London open: Shares in partial recovery

19th Apr 2011 08:22

The top share index has won back some of yesterday's heavy losses, with company updates tempting buyers.However, Tesco is lower even after new chief executive Philip Clarke delivered profits and sales that were in line with expectations as he unveiled the supermarket giant's results for the year to 26 February. Pre-tax profits climbed by 11.3% from the same period a year ago to £3.53bn, on sales that climbed by 8.1% to £67.57bn. Brewing giant SABMiller has frothed higher after it said organic year on year growth in lager sales in the 12 months to 31 March 2011 was 2%, with the fourth quarter seeing a 3% growth rate. The group's overall financial performance is in line with the board's expectations.Burberry is in fashion after saying it expects profits for the financial year to March 31 to be at the top end of expectations after a strong performance in the final few months. Total revenues rose by 30% from the previous year on an underlying basis to £860m.Business and academic publisher Reed Elsevier saw underlying revenue growth in each of its business groups once the effects of biennial events in its exhibitions group are taken out of the equation. The group is sticking by its earlier forecast of a gradual recovery in 2011.Housebuilder Redrow said it expects full year completions to be marginally ahead of last year as it announced plans to sell loss making Scottish operations. "The board has concluded that although we have had a presence in Scotland for a number of years, the operation there is not of sufficient scale to generate acceptable returns and its preferred option is to sell that business," it said. Redrow said it would instead focus on London and the South East. FTSE 100 - RisersBurberry Group (BRBY) 1,181.00p +3.05%Fresnillo (FRES) 1,542.00p +1.85%Xstrata (XTA) 1,463.00p +1.84%Lonmin (LMI) 1,603.00p +1.78%Vedanta Resources (VED) 2,273.00p +1.75%Eurasian Natural Resources Corp. (ENRC) 906.50p +1.63%Marks & Spencer Group (MKS) 376.80p +1.62%Anglo American (AAL) 3,031.00p +1.61%Intertek Group (ITRK) 2,043.00p +1.54%GKN (GKN) 198.50p +1.53%FTSE 100 - FallersTesco (TSCO) 395.85p -1.04%Autonomy Corporation (AU.) 1,538.00p -0.39%Sage Group (SGE) 273.80p -0.29%Sainsbury (J) (SBRY) 338.40p -0.15%Petrofac Ltd. (PFC) 1,483.00p -0.13%Carnival (CCL) 2,400.00p -0.12%Imperial Tobacco Group (IMT) 2,012.00p -0.10%Reckitt Benckiser Group (RB.) 3,199.00p -0.03%Johnson Matthey (JMAT) 1,833.00p +0.05%GlaxoSmithKline (GSK) 1,242.00p +0.08%FTSE 250 - RisersBwin.party Digital Entertainment (BPTY) 177.70p +4.53%AZ Electronic Materials SA (WI) (AZEM) 257.70p +3.70%Stobart Group Ltd. (STOB) 149.90p +3.38%Gem Diamonds Ltd. (DI) (GEMD) 269.40p +2.82%Marston's (MARS) 102.30p +2.61%Paragon Group Of Companies (PAG) 169.90p +2.53%Salamander Energy (SMDR) 305.10p +2.52%Keller Group (KLR) 620.00p +2.39%United Business Media Ltd. (UBM) 585.50p +2.27%Petropavlovsk (POG) 871.50p +2.11%FTSE 250 - FallersRestaurant Group (RTN) 305.20p -2.12%Centamin Egypt Ltd. (CEY) 143.00p -0.97%Dixons Retail (DXNS) 13.58p -0.88%Domino Printing Sciences (DNO) 605.00p -0.66%Moneysupermarket.com Group (MONY) 88.15p -0.62%Home Retail Group (HOME) 214.90p -0.60%Kesa Electricals (KESA) 116.20p -0.60%Scottish Inv Trust (SCIN) 490.10p -0.57%Dignity (DTY) 724.50p -0.55%Shanks Group (SKS) 115.10p -0.52%