London midday: Miners push FTSE 100 past 6,000

7th Feb 2011 12:04

Strength in the miner sector has helped lift the FTSE 100 well above 6,000 points.Gold miner Randgold Resources as among the best performers after it shrugged off operational and political setbacks in 2010 to post a sharp increase in profit, helped by the increase in the price of gold. Profit before income tax and financing activities for 2010 rose to $136.14m from $113.76m in 2009. Randgold Resources' group production for 2011 is forecast to be between 750,000 and 790,000 ounces, which represents an increase of more than 70% on the preceding year. Peers Xstrata and Rio Tinto are also in demand. Oil producer Cairn Energy is wanted as talks concerning its proposed sale of a majority stake in Cairn India to miner Vedanta Resources are in progress. Vedanta is also higher.AstraZeneca's run of disappointing drug development results has continued with the early end to a trial of prostate cancer treatment zibotentan. Banks are going well after weekend reports suggested big bonuses won't spark a crackdown from the government. RBS and Lloyds are the best of the sector so far. Property developer St Modwen Properties is confident about the future after making an annual profit for the first time since 2007. The company posted a profit before tax of £37.5m for the 12 months to 30 November compared with a £119.4m loss in 2009 and £73.1m deficit the year before that. On the rise is international engineering and project management company AMEC, which has made its second acquisition of the month, purchasing the Australian engineering consultancy Zektingroup for AU$48m.Housebuilder Bellway has been encouraged by the pick up in site visits and reservations in 2011 following the cold snap in December. The group said it sold 2,332 homes in the six months to end-January, an increase of 85 on the corresponding period a year earlier. The average sales price over the period rose to £168,000 from £155,871 a year earlier, largely as a result of selling more traditional two storey homes and fewer flats. Shares in Exillon Energy started the week on the front foot after test well results in the West Siberia basin kept up the oil producer's 100% drilling success rate since 2006. Bid target 888 ended the year strongly as talks continue with bookmaker Ladbrokes over a possible takeover of the online gamer. Operating Income rose 18% to $71m in the three months to December, up 18% on the previous three months. Scanning software specialist Kofax delivered record first half results after a bumper performance at its software business and expects 14% revenue growth for the full year. The group, which is proceeding with the disposal of its hardware business, said adjusted EBITA for the six months ended 31 December rose to $23.5m from $8m in 2009. Revenues increased 20% to $121.7m. Mobile messaging services provider Synchronica said full year revenue surged 86% from the year before after an, 'extremely strong end to the year'. The group, which last week announced the purchase of US firm Neustar for $0.25m, said it produced around $11m in revenue during 2010, up 86% from the 2009.FTSE 100 - RisersARM Holdings (ARM) 608.50p +3.49%Xstrata (XTA) 1,464.00p +3.32%Rexam (REX) 365.80p +2.55%Essar Energy (ESSR) 533.50p +2.50%Rio Tinto (RIO) 4,608.00p +2.47%Randgold Resources Ltd. (RRS) 5,100.00p +2.41%Burberry Group (BRBY) 1,163.00p +2.38%IMI (IMI) 891.50p +2.00%Fresnillo (FRES) 1,446.00p +1.97%International Consolidated Airlines Group SA (IAG) 263.60p +1.93%FTSE 100 - FallersInvestec (INVP) 477.40p -2.05%Old Mutual (OML) 130.70p -1.73%Standard Life (SL.) 238.10p -0.71%Vodafone Group (VOD) 178.25p -0.70%Resolution Ltd. (RSL) 272.70p -0.66%BT Group (BT.A) 186.50p -0.64%Standard Chartered (STAN) 1,681.50p -0.62%Whitbread (WTB) 1,750.00p -0.51%Associated British Foods (ABF) 1,064.00p -0.47%Kingfisher (KGF) 253.70p -0.47%FTSE 250 - RisersLogica (LOG) 143.40p +3.99%Meggitt (MGGT) 362.40p +3.93%Supergroup (SGP) 1,775.00p +3.80%Hikma Pharmaceuticals (HIK) 851.00p +3.47%Exillon Energy (EXI) 385.00p +3.27%Bodycote (BOY) 296.00p +2.88%Dixons Retail (DXNS) 21.60p +2.81%Cobham (COB) 214.50p +2.78%Daily Mail and General Trust (DMGT) 595.00p +2.76%Rightmove (RMV) 874.50p +2.70%FTSE 250 - FallersEnQuest (ENQ) 144.10p -3.93%Daejan Holdings (DJAN) 2,711.00p -2.52%CPP Group (CPP) 297.20p -2.43%Hiscox Ltd. (HSX) 373.80p -2.15%ITV (ITV) 82.50p -1.84%Carillion (CLLN) 381.00p -1.63%Mcbride (MCB) 146.70p -1.41%RPS Group (RPS) 213.70p -1.38%Carpetright (CPR) 677.00p -1.31%Soco International (SIA) 361.90p -1.26%