London midday: Shares stuck lower after Bank holds rates

10th Feb 2011 12:29

Shares remain firmly in the red following the Bank of England's decision to leave interest rates and quantitative easing unchanged.The Bank has kept interest rates on hold at a record low of 0.5%Mixed results have added to the unsettled mood. Drinks giant Diageo raised revenues in the six months to December, but weakness in Europe resulted in profits missing expectations. Miner Rio Tinto had plenty to please shareholders Thursday, with record full-year profits, a $5bn share buyback and 20% increase in the dividend. The Anglo-Australian group made a net profit of US$14.3bn in 2010, up from $4.9bn the year before, as prices improved for almost all Rio's major commodities. Price hikes added $9.5bn to underlying earnings. Elsewhere in mining, Profits soared at Aquarius Platinum in the six months to 31 December as prices for the precious metal used to make catalytic converters for cars soared in line with the global recovery. Aquarius, which operates in South Africa, saw pre-tax profits rise to $130m (£80.9m) from $21.3m over the same period the previous year on revenues that climbed to $336.2m from $206.1m.Paper and packaging firm Mondi said underlying operating profit for the year ended 31 December 2010 is expected to be considerably higher than the same time a year earlier. David Illingworth, chief executive of Smith & Nephew is to leave, sparking renewed speculation that some takeover activity is afoot. He'll be replaced by Olivier Bohuon, previously CEO of Pierre Fabre and executive vice-president at Abbott Laboratories. Engine maker Rolls-Royce made slightly more money than expected in 2010 and predicts good profit growth this year despite government spending squeezing customers in the defence business. The Qantas engine problems cost it £56m.Oil firm Tullow Oil has discovered oil and gas in its Teak-1 exploration well in the West Cape Three Points licence offshore Ghana. Wealth management and stockbroking firm Hargreaves Lansdown is going well after a record breaking second half to 2010. Profits fell sharply at Catlin in the year to December as natural disasters such as the earthquakes in Chile and New Zealand forced the property insurer to pay out for claims. Pre-tax profits fell to $406m (£252m) from $603m the previous year.FTSE 100 - RisersAutonomy Corporation (AU.) 1,600.00p +1.78%Fresnillo (FRES) 1,447.00p +1.54%Smith & Nephew (SN.) 723.00p +1.54%WPP (WPP) 820.50p +1.05%Essar Energy (ESSR) 506.00p +1.00%Sage Group (SGE) 289.00p +0.80%National Grid (NG.) 564.50p +0.62%Capita Group (CPI) 671.00p +0.45%Scottish & Southern Energy (SSE) 1,172.00p +0.43%Reed Elsevier (REL) 585.00p +0.34%FTSE 100 - FallersInternational Consolidated Airlines Group SA (IAG) 245.00p -5.62%Diageo (DGE) 1,196.00p -4.55%Xstrata (XTA) 1,422.00p -3.10%GKN (GKN) 209.40p -3.06%Randgold Resources Ltd. (RRS) 4,906.00p -2.66%ARM Holdings (ARM) 586.00p -2.66%Legal & General Group (LGEN) 118.70p -2.47%Prudential (PRU) 713.50p -2.46%Rio Tinto (RIO) 4,544.50p -2.46%Antofagasta (ANTO) 1,422.00p -2.34%FTSE 250 - RisersHargreaves Lansdown (HL.) 573.00p +4.85%Beazley (BEZ) 135.20p +3.44%Catlin Group Ltd. (CGL) 397.00p +2.98%Daejan Holdings (DJAN) 2,849.00p +2.85%Mondi (MNDI) 525.00p +2.54%Dairy Crest Group (DCG) 383.30p +2.27%Dixons Retail (DXNS) 22.14p +1.28%Aegis Group (AGS) 146.90p +1.24%JD Sports Fashion (JD.) 862.50p +1.11%Henderson Group (HGG) 166.50p +1.09%FTSE 250 - FallersAberdeen Asset Management (ADN) 213.90p -6.27%Centamin Egypt Ltd. (CEY) 130.50p -5.43%Exillon Energy (EXI) 351.00p -5.14%Lamprell (LAM) 284.00p -4.89%Ashmore Group (ASHM) 357.00p -4.70%International Personal Finance (IPF) 334.60p -4.40%Kenmare Resources (KMR) 38.78p -3.89%Avis Europe (AVE) 223.00p -3.42%Intermediate Capital Group (ICP) 340.00p -3.35%easyJet (EZJ) 376.40p -3.26%FTSE TechMARK - RisersPhytopharm (PYM) 9.25p +10.78%Kofax (KFX) 474.25p +4.23%Antisoma (ASM) 2.45p +2.51%Timeweave (TMW) 22.00p +2.33%KCOM Group (KCOM) 59.00p +2.16%Promethean World (PRW) 63.00p +2.02%BATM Advanced Communications Ltd. (BVC) 26.25p +1.94%Axis-Shield (ASD) 302.25p +0.67%Corin Group (CRG) 50.00p +0.50%Vectura Group (VEC) 80.00p +0.31%FTSE TechMARK - FallersParity Group (PTY) 30.00p -4.76%Vislink (VLK) 20.75p -3.49%Filtronic (FTC) 34.00p -2.16%Skyepharma (SKP) 36.25p -2.03%Sinclair Pharma (SPH) 37.75p -1.95%Anite (AIE) 67.50p -1.82%Oxford Instruments (OXIG) 610.00p -1.77%Dialight (DIA) 547.50p -1.53%Innovation Group (TIG) 16.75p -1.47%Renovo Group (RNVO) 69.00p -1.43%