London open: Small gains seen on FTSE

24th Dec 2012 08:24

Market MoverstechMARK 2,127.39 +0.03%FTSE 100 5,948.57 +0.14%FTSE 250 12,359.99 -0.02%The FTSE opened little changed on Monday - a half day for markets - up just six points ahead of the Christmas holiday period, as the majority of investors take time off and trading volumes fall. With no UK announcements out this week, limited company news and markets closed for half the time, this week is expected to be a quiet one. Tough time for Retailers Things are looking tough for retailers, with business recovery group Begbies Traynor warning that an increasing number of both national and regional retail chains are heading for insolvency following a difficult year of trading. The group's research shows that 13,700 retailers suffered significant financial distress between the start of October and mid-December.Company News ITV has agreed to acquire a controlling stake in Gurney Productions, an independent producer of US cable television networks. The UK TV network is purchasing a 61.5% stake in Gurney Productions for $40m, with a put and call option to buy the remaining 38.5% interest in the company. The put and call could be made from three years after the initial deal. Global medical technology company Smith & Nephew announced Monday it has completed the acquisition of a substantial stake in Healthpoint Biotherapeutics. The FTSE 100 company paid $782m in cash for the assets, financed from the existing cash resources and bank facilities. The transaction increases Smith & Nephew's position in bioactives, the fastest growing area of advanced wound management.Electric Word, which provides training services for the education, healthcare and sport sectors, said following its fundraising in August, trading is in line with company expectations.London Stock Exchange Group announced on Monday that it has shaken hands on a deal which will see it purchase a majority stake in LCH.Clearnet, but at a reduced price to that agreed back in April. The company will now purchase the stake at €15 a share, around four euros lower than previously agreed price. FTSE 100 - RisersVedanta Resources (VED) 1,167.00p +1.30%Compass Group (CPG) 730.50p +1.04%Pearson (PSON) 1,206.00p +0.92%National Grid (NG.) 711.00p +0.92%Weir Group (WEIR) 1,882.00p +0.86%ARM Holdings (ARM) 782.50p +0.84%Xstrata (XTA) 1,059.00p +0.76%HSBC Holdings (HSBA) 654.60p +0.75%ITV (ITV) 107.40p +0.75%Whitbread (WTB) 2,489.00p +0.65%FTSE 100 - FallersBT Group (BT.A) 236.70p -1.29%Carnival (CCL) 2,412.00p -1.23%Aggreko (AGK) 1,742.00p -1.02%Serco Group (SRP) 539.50p -1.01%Fresnillo (FRES) 1,855.00p -0.91%British American Tobacco (BATS) 3,116.00p -0.83%Bunzl (BNZL) 1,006.00p -0.79%Anglo American (AAL) 1,864.00p -0.72%Eurasian Natural Resources Corp. (ENRC) 274.90p -0.72%BAE Systems (BA.) 343.60p -0.72%FTSE 250 - RisersHochschild Mining (HOC) 503.00p +4.14%Stobart Group Ltd. (STOB) 103.07p +3.75%JD Sports Fashion (JD.) 709.40p +3.11%SIG (SHI) 121.95p +2.82%ITE Group (ITE) 243.90p +2.52%Taylor Wimpey (TW.) 66.75p +2.38%Moneysupermarket.com Group (MONY) 163.50p +2.32%Ocado Group (OCDO) 82.25p +2.17%Oxford Instruments (OXIG) 1,458.76p +2.08%Personal Assets Trust (PNL) 34,490.00p +2.04%FTSE 250 - FallersCentamin (DI) (CEY) 37.10p -9.25%St James's Place (STJ) 398.60p -4.46%Galliford Try (GFRD) 714.74p -3.67%Kenmare Resources (KMR) 31.01p -3.52%Bodycote (BOY) 433.12p -3.36%Heritage Oil (HOIL) 173.03p -2.90%Senior (SNR) 197.06p -2.69%Euromoney Institutional Investor (ERM) 867.50p -2.47%Salamander Energy (SMDR) 178.80p -2.46%Laird (LRD) 206.00p -2.32%NR