London close: Shares limp higher

24th May 2010 10:50

On an largely directionless day for Footsie, the leading share index was just a few points higher at trading's close. Shares in BP were under pressure again. The oil giant followed what has become a daily update on the oil leak situation in the Gulf of Mexico with an announcement that it will pay $500m to conduct research into the oil spill in the Gulf of Mexico.Lonmin closed lower. The South African platinum miner's plans to get its Number One furnace back fully on line have hit a snag. The company said that the recommissioning process has suffered a setback in the form of a leak around a slag tap hole.On the positive side, Prudential was wanted on reports that US firm AIG has drawn up plans to float its Asian arm again if the Pru's attempts to buy it collapse.British Airways advanced even as cabin crew started their strike today despite last ditch attempts to get it averted.Travellers face massive disruption despite BA's attempt to fly as many planes as possible, although it had looked like industrial action could be avoided following a last-minute overture from the Unite union.Imperial Tobacco was in demand. Nomura Securities has upgraded tobacco giant to "buy" in the belief that now the stock has dipped below 1800p there is little downside risk left. Invensys grew full-year profit, though not by as much as analysts would have liked, but the firm still remains positive about the outlook based on its large order book and view of economic conditions. Profits fell by 25% at bid target Chloride last year, as recession hit its markets in Europe and the US. The power supplies group saw profits fall to £29.9m from £39.8m in the year to March, after a £5.9m one-of charge. Adjusted operating profits fell 4% to £44.7m. Sales rose by 3% to £336m.Pork products supplier Cranswick brought home the bacon last year, delivering a 26% surge in annual pre-tax profit. Revenues were up 22% to £740m. Net debt reduced by £11.9m to £54.7m. The company said it is encouraged by the positive start made in the current financial year. AG Barr, the Scottish soft drinks maker best known for its iconic Irn Bru concoction, said sales have continued frothing over in the new financial year.Recession has kept Albemarle & Bond's pawnbroker business performing strongly and it expects results for the 12 months to June 2010 to meet market expectations.Oil companies Europa and Aurelian are wanted after good progress on the Voitinel-1 well in the Brodina Block in Romania, in which they both have sizeable stakes.ValiRx, the biotech firm, has added Biovei's over the counter Chlamydia self-testing kit to its range of health screening products. Biomaterials and medical devices group Aortech has announced a non-exclusive technology licence and material supply agreement with a multi-billion dollar NYSE listed company to use the group's proprietary biostable co-polymer Elast-Eo as an integral part of a drug delivery platform for urological catheters.FTSE 100 - RisersPrudential (PRU) 530.00p +2.51%SABMiller (SAB) 1,908.00p +2.47%Reckitt Benckiser Group (RB.) 3,254.00p +2.20%ARM Holdings (ARM) 242.20p +2.11%Imperial Tobacco Group (IMT) 1,799.00p +2.10%Anglo American (AAL) 2,528.00p +1.98%Marks & Spencer Group (MKS) 333.50p +1.96%Rio Tinto (RIO) 2,959.50p +1.74%Aggreko (AGK) 1,192.00p +1.62%Randgold Resources (RRS) 5,750.00p +1.59%FTSE 100 - FallersBP (BP.) 493.00p -2.70%Capita Group (CPI) 780.00p -2.38%Cairn Energy (CNE) 376.90p -2.33%Invensys (ISYS) 279.90p -2.24%Royal Dutch Shell 'B' (RDSB) 1,713.50p -1.78%Royal Dutch Shell 'A' (RDSA) 1,788.50p -1.49%Schroders (SDR) 1,292.00p -1.45%Lonmin (LMI) 1,616.00p -1.28%Tullow Oil (TLW) 1,038.00p -1.24%Burberry Group (BRBY) 629.50p -1.18%FTSE 250 - RisersDunelm Group (DNLM) 371.50p +5.51%St. Modwen Properties (SMP) 173.10p +5.16%Sports Direct International (SPD) 99.00p +5.04%Hargreaves Lansdown (HL.) 334.50p +4.08%Cranswick (CWK) 827.00p +4.03%COLT Group S.A. (COLT) 125.70p +3.88%Senior (SNR) 112.90p +3.86%Taylor Wimpey (TW.) 33.86p +3.42%Genesis Emerging Markets Fund Ltd. (GSS) 445.00p +3.25%Hansteen Holdings (HSTN) 66.30p +3.19%FTSE 250 - FallersTrinity Mirror (TNI) 102.20p -7.43%Soco International (SIA) 1,559.00p -3.05%Inchcape (INCH) 290.90p -3.03%Afren (AFR) 84.75p -2.70%Debenhams (DEB) 60.95p -2.56%BBA Aviation (BBA) 186.30p -2.46%Paragon Group Of Companies (PAG) 140.10p -2.44%Helical Bar (HLCL) 300.00p -2.09%Yell Group (YELL) 34.66p -1.81%Hikma Pharmaceuticals (HIK) 662.00p -1.78%