London open: More losses as Europe worries continue

15th Jul 2011 08:46

Stocks have fallen back in early dealings with nerves on edge over Europe again, this time as traders await banking stress test results.In stocks news, BHP Billiton is the heaviest faller in the FTSE 100. The company, best known as a miner, is increasing its oil and gas activities with the $12.1bn (£7.5bn) purchase of Texas and Louisiana-focused firm Petrohawk. Credit checking firm Experian saw organic revenue growth of 6% in the second quarter of 2011, and continues to anticipate organic revenue growth in the mid-high single digit range over the full-year. Total revenue growth from continuing activities was 10%.Spectris, which develops precision instrumentation and controls to help firms improve their productivity, expects sales for the first half of 2011 to be more than a fifth higher than the same period last year.You can't win them all, as Tullow Oil has discovered with the Makore-1 exploration well on the West Cape Three Points Block, off the Republic of Ghana. The operator of the well found plenty of water but precious little oil in its test drilling.Similarly, shares in Salamander Energy fall back after the Southeast Asia-focused oil and gas group Salamander said it is abandoning its Dao Ruang-3 well off Thailand after analysis of data from drilling showed it "would have limited potential as a producer."Electrocomponents, the FTSE 250 firm which supplies electronic products and provides maintenance services, is higher after it saw revenue rise 14% in its first reporting quarter. Publishing, events and electronic information group Euromoney has been trading in line with management expectations since its interim results were announced on 19 May. Total revenues for the quarter to June 30, 2011 - the third quarter of the group's financial year - increased by 4% to £102.0m, driven by another strong performance from the group's event businesses. Also in publishing, Future, which is behind hobby magazines such as Classic Rock and Guitar World, slumps after saying it expects its earnings before interest and taxation for the full year to be £2m less than expected after disappointing sales in the US. The poor performance has prompted the company to accelerate its transformation into a mainly digital business. FTSE 100 - RisersBritish Sky Broadcasting Group (BSY) 699.00p +0.43%Imperial Tobacco Group (IMT) 2,149.00p +0.37%Sainsbury (J) (SBRY) 318.00p +0.32%GlaxoSmithKline (GSK) 1,332.50p +0.19%International Power (IPR) 302.20p +0.10%Morrison (Wm) Supermarkets (MRW) 293.80p +0.07%International Consolidated Airlines Group SA (IAG) 230.60p +0.04%Tesco (TSCO) 402.15p +0.04%Kingfisher (KGF) 258.30p 0.00%Scottish & Southern Energy (SSE) 1,399.00p 0.00%FTSE 100 - FallersBHP Billiton (BLT) 2,339.50p -1.95%ARM Holdings (ARM) 564.00p -1.83%Intertek Group (ITRK) 1,882.00p -1.57%Tullow Oil (TLW) 1,251.00p -1.42%Experian (EXPN) 800.00p -1.36%GKN (GKN) 233.20p -1.35%Kazakhmys (KAZ) 1,333.00p -1.26%Resolution Ltd. (RSL) 278.20p -1.17%Anglo American (AAL) 2,971.00p -1.16%IMI (IMI) 1,080.00p -1.10%FTSE 250 - RisersGem Diamonds Ltd. (DI) (GEMD) 292.05p +20.19%Keller Group (KLR) 493.35p +8.17%Savills (SVS) 398.75p +6.67%Electrocomponents (ECM) 257.60p +5.40%PZ Cussons (PZC) 368.70p +5.04%AG Barr (BAG) 1,360.50p +4.57%Phoenix Group Holdings (DI) (PHNX) 577.50p +3.31%Anglo Pacific Group (APF) 318.85p +3.02%JPMorgan European Smaller Companies Trust (JESC) 951.50p +2.59%Murray International Trust (MYI) 972.50p +2.58%FTSE 250 - FallersYule Catto & Co (YULC) 217.05p -6.85%Misys (MSY) 368.70p -4.83%Salamander Energy (SMDR) 269.80p -4.02%Laird (LRD) 184.70p -3.75%Sports Direct International (SPD) 247.80p -3.39%Victrex (VCT) 1,485.00p -2.69%Kenmare Resources (KMR) 55.50p -2.63%Edinburgh Inv Trust (EDIN) 456.00p -2.48%Hansteen Holdings (HSTN) 85.45p -2.34%Supergroup (SGP) 1,056.00p -2.22%