London close: ENRC leads FTSE 100 slide

10th Jun 2011 16:26

The top share index slid below the 5,800 point mark heading into the weekend.ENRC, the Kazakh resources giant, was nursing heavy losses by the close of play. The company is set to lose a third independent board director according to reports in the Financial Times. The loss of Mehmet Dalman would follow the removal from the board of fellow independents Ken Olisa and Sir Richard Sykes. Retailers were also under the cosh, suffering losses for the second day in a row after Argos owner Home Retail's gloomy trading update. Home furnishings group Dunelm and trendy sportswear group JD Sports Fashion were among the heaviest fallers.On the plus side, shares in recruitment group Hays jumped amid rumours that the recruitment firm is in the sights of larger rival Adecco. The Daily Mail's Market Report said that traders were speculating that Switzerland's Adecco could be lining up a £2.2bn or 160p-a-share bid. Housebuilder Bellway was in demand after it said it is well positioned to deliver operating margin and volume growth if market conditions remain unchanged following a return to a more normal reservation pattern and a healthy spring selling season. The Newcastle upon Tyne based property developer said it achieved a sales rate of 111 units per week in the period from 1 February to 31 May 2011, up 9% on the same period last year, from an average of 195 sites.Economic resilience in the southeast of England helped brewer and pub operator Fuller, Smith and Turner, another riser today, post a strong rise in profits in the year to 2 April. The company, whose pubs only stretch as far north as the Midlands, saw adjusted pre-tax profits rise by 10% from the previous year to £29.3m on revenues up 6% to £241.9m.Care home operator Southern Cross Healthcare responded to reports that it is planning to return 132 homes to landlords, saying no decisions have been taken about the closure of any homes. "The company remains in discussions with its landlords and banks to ensure the continuity of care for all residents," the company said. The shares fell.Daily Mail publisher DMGT said it is reviewing alternatives for its US retail trade show operation, after reports said the media company is considering selling the business for £122m. DMGT said the strategic review of George Little Management, which organises events in retail sectors such as clothing and jewellery, comes after it concluded that it should focus on more exciting areas such as energy and the Middle East. Oil and gas facilities provider Petrofac has acquired an additional 11.9% stake in Nigerian production and development firm Seven Energy International for $75m.Shares of building materials supplier Ensor surged after it posted a sharp rise in profit for the year, upped its dividend and said it is well positioned to make further progress in this new financial year. Profit before tax rose to £813,000 in the year ended 31 March 2011 compared to £256,000 a year earlier. Revenue increased to £21.4m from £19.4m previously. Uprisings in the Arab world helped Red24, which helps companies deal with security threats such as piracy and kidnap, post a rise in sales and profits in the year to 31 March. Revenue was up to £5.26m from £4.29m the previous year, lifting pre-tax profits to £742,000 from £628,000. The shares moved higher.South American gold miner Orosur is lower after it raised $13.5m (£8.3m) through a placing of shares to fund its acquisition of the Talca mine in Chile and other potential purchases. Just over 12.5m shares were placed at 66p a share, a 9% discount to the company's closing price yesterday. Orosur said yesterday that it was seeking to raise up to $15m.FTSE 100 - RisersEssar Energy (ESSR) 433.80p +1.83%Associated British Foods (ABF) 1,061.00p +1.43%Johnson Matthey (JMAT) 1,998.00p +0.71%Pearson (PSON) 1,169.00p +0.69%Capita Group (CPI) 740.00p +0.68%ARM Holdings (ARM) 567.50p +0.18%Aggreko (AGK) 1,935.00p +0.05%Reckitt Benckiser Group (RB.) 3,482.00p -0.11%Resolution Ltd. (RSL) 315.60p -0.16%Standard Life (SL.) 205.00p -0.49%FTSE 100 - FallersEurasian Natural Resources Corp. (ENRC) 742.00p -7.48%Lonmin (LMI) 1,460.00p -5.44%GKN (GKN) 207.20p -3.36%Wolseley (WOS) 1,906.00p -3.30%Vedanta Resources (VED) 1,977.00p -3.28%Anglo American (AAL) 2,891.00p -3.26%Smiths Group (SMIN) 1,126.00p -3.01%Scottish & Southern Energy (SSE) 1,370.00p -2.84%Fresnillo (FRES) 1,377.00p -2.82%Cairn Energy (CNE) 412.30p -2.78%FTSE 250 - RisersRedrow (RDW) 117.60p +3.16%Bellway (BWY) 717.50p +2.94%Hays (HAS) 109.20p +2.92%Ashmore Group (ASHM) 384.40p +1.88%Bovis Homes Group (BVS) 426.70p +1.64%RPC Group (RPC) 336.50p +1.54%Barratt Developments (BDEV) 107.40p +1.51%Shanks Group (SKS) 130.90p +1.39%Big Yellow Group (BYG) 326.00p +1.27%Chemring Group (CHG) 659.50p +1.07%FTSE 250 - FallersJD Sports Fashion (JD.) 865.00p -7.88%Dunelm Group (DNLM) 425.00p -7.57%Supergroup (SGP) 922.00p -7.34%Ferrexpo (FXPO) 456.10p -5.96%Home Retail Group (HOME) 165.00p -5.44%Halfords Group (HFD) 384.50p -5.27%Sports Direct International (SPD) 216.40p -4.63%Kesa Electricals (KESA) 138.10p -3.70%Fidelity China Special Situations (FCSS) 97.25p -3.33%Mondi (MNDI) 609.00p -3.33%