London open: FTSE 100 gains as Antofagasta and G4S impress

23rd Aug 2011 08:24

The top share index has continued its rally with the recent gloom seemingly giving way to cautious optimism.Miners are in demand amid a perception that recent falls on worries over global economic growth may be overdone. Among the risers is South America-focused copper group Antofagasta which posted a sharp rise in profits for the six months to 30 June as prices for the red metal soared and said its ability to keep costs down leaves it well placed to come with recent commodity price volatility. Security services provider G4S is another high riser today. It said it is seeing organic revenue growth accelerating in most regions and business sectors, as the global economy continues its recovery from the recession. Group turnover rose 5% on a constant exchange rates basis to £3.76bn in the first six months of 2011 from £3.58bn in the first half of last year. Profit before tax climbed to £149m from £142m in the first half of 2010.Segro is wanted despite the real estate group posting a 56.6% drop in half year pre-tax profit while rental income fell 6.1% as occupier markets recover slowly. Pre-tax profit fell to £64.6m in the six months ended 30 June 2011 from £148.9m the same a year earlier. Net rental income fell to £135.5m during the period from £144.3m before. Also in property, Persimmon, the house builder, saw underlying profits surge in the first half of 2011 on the back of gross margin gains and a more efficient capital structure. Underlying profit before tax rose 52% to £59.7m in the first half of 2011 from £39.4m last year. Pre-tax profits after goodwill impairment and exceptional items were £60.3m, compared with £101.4m for the first half of 2010, which included a net exceptional credit of £63.6m. Reinforced polymer products manufacturer Fenner has acquired Transeals, a privately owned company based in Perth, Australia. The unaudited value of the gross assets acquired was A$5.586m. as at 30 June 2011. FTSE 100 - RisersG4S (GFS) 255.30p +4.80%ARM Holdings (ARM) 515.00p +4.67%Kazakhmys (KAZ) 961.00p +3.84%Glencore International (GLEN) 368.30p +3.75%Xstrata (XTA) 968.00p +3.71%IMI (IMI) 777.00p +3.60%Rio Tinto (RIO) 3,538.50p +3.43%Antofagasta (ANTO) 1,252.00p +3.30%Lonmin (LMI) 1,171.00p +3.26%Anglo American (AAL) 2,320.00p +3.13%FTSE 100 - FallersGlaxoSmithKline (GSK) 1,277.50p 0.00%Autonomy Corporation (AU.) 2,489.00p +0.12%Severn Trent (SVT) 1,438.00p +0.21%Pearson (PSON) 1,076.00p +0.28%British Sky Broadcasting Group (BSY) 625.00p +0.40%National Grid (NG.) 603.00p +0.42%Rexam (REX) 343.00p +0.56%Scottish & Southern Energy (SSE) 1,240.00p +0.57%Schroders (Non-Voting) (SDRC) 1,157.00p +0.61%AstraZeneca (AZN) 2,840.00p +0.64%FTSE 250 - RisersCharter International (CHTR) 673.00p +8.20%Spectris (SXS) 1,360.00p +6.25%Perform Group (PER) 165.00p +4.76%New World Resources A Shares (NWR) 560.00p +4.58%Persimmon (PSN) 400.60p +4.57%Petropavlovsk (POG) 812.00p +4.24%Kenmare Resources (KMR) 42.06p +4.11%Barratt Developments (BDEV) 71.35p +4.01%Bunzl (BNZL) 731.00p +3.98%Taylor Wimpey (TW.) 30.00p +3.81%FTSE 250 - FallersSpirit Pub Company (SPRT) 41.01p -2.43%TR Property Inv Trust (TRY) 160.90p -1.83%Phoenix Group Holdings (DI) (PHNX) 524.00p -1.78%BH Global Ltd. USD Shares (BHGU) 11.2 -1.23%BH Global Ltd. GBP Shares (BHGG) 1,116.00p -1.06%Fidelity China Special Situations (FCSS) 83.00p -0.95%UK Commercial Property Trust (UKCM) 78.25p -0.95%British Empire Securities & General Trust (BTEM) 470.00p -0.89%Ocado Group (OCDO) 116.50p -0.68%Moneysupermarket.com Group (MONY) 105.80p -0.66%