London open: Stocks move both ways after updates

27th Apr 2011 08:32

Shares have edged slightly lower in early dealings with some big name company updates getting a poor reception, though there are some significant risers.Banking giant Barclays is lower after saw adjusted profit before tax rise 10% in the first quarter of 2011, despite a 15% slide in top-line income at Barclays Capital, its high profile investment banking arm. Adjusted profit before tax grew to £2,004m from £1,822m in the first quarter of 2010. Net operating income dipped 1% to £6,478m from £6,557m a year earlier.British Sugar and Primark owner Associated British Foods turned a little sour after saw adjusted earnings per share grow by 7.9% year on year at the interim stage, ahead of some brokers' expectations, but warned full year results will only be roughly on a par to last year. Group revenue rose 9% to £5,207m in the 24 weeks to 5 March, up from £4,976m in the corresponding period a year earlier and ahead of the £5.16bn predicted by broker Charles Stanley.On the plus side, temporary power supplier Aggreko expects its full year profits to be slightly ahead of 2010 after a strong start to the year. The prediction comes in spite of Aggreko's expectation that movements in the US dollar will reduce full year profits by about £7.5m. Group revenues excluding the impact from major events such as the football World Cup were up by 9% from the same period a year ago.Controversial oil colossus BP saw its first quarter profit advance to $7,124m from $6,079m the year before. Replacement cost profit dipped to $5,481m from $5,598m, however. Including the impact of the Gulf of Mexico oil spill, net cash provided by operating activities for the first quarter was $2.4bn, compared with $7.7bn in the same period of last year.In the FTSE 250, engineering firm Bodycote motors ahead after saying it expects headline operating profit for the year to 31 December 2011 to be towards the top end of analysts' forecasts after strong demand for heavy trucks. The metals engineer said revenues for the three months to 31 March 2011 were 19.2% higher than in the same period last year.Carpet and floor coverings retailer Carpetright is slightly trampled after it warned underlying pre-tax profit for the year is expected to be slightly below the level of profits achieved in the 2009 as tough trading conditions continued in the fourth quarter. Group sales for the 11 weeks ended 16 April 2011 fell by 6.5%. UK and Republic of Ireland sales declined 6.5% during the quarter, with like-for-like sales down 6.3%.FTSE 100 - RisersAggreko (AGK) 1,755.00p +2.63%Sage Group (SGE) 291.30p +1.39%International Consolidated Airlines Group SA (IAG) 232.50p +1.26%Rexam (REX) 389.00p +1.17%Reckitt Benckiser Group (RB.) 3,296.00p +1.07%BP (BP.) 467.95p +0.81%Intertek Group (ITRK) 2,134.00p +0.76%Compass Group (CPG) 579.50p +0.70%Petrofac Ltd. (PFC) 1,520.00p +0.66%Serco Group (SRP) 568.50p +0.62%FTSE 100 - FallersAssociated British Foods (ABF) 983.50p -5.89%ARM Holdings (ARM) 601.00p -3.92%Barclays (BARC) 291.40p -3.46%Centrica (CNA) 322.00p -3.30%Smith & Nephew (SN.) 648.50p -3.21%Tesco (TSCO) 397.60p -2.24%Royal Bank of Scotland Group (RBS) 41.19p -1.55%Lloyds Banking Group (LLOY) 59.53p -1.42%Fresnillo (FRES) 1,629.00p -1.21%BHP Billiton (BLT) 2,529.50p -1.19%FTSE 250 - RisersBodycote (BOY) 368.00p +9.39%Domino's Pizza UK & IRL (DOM) 401.70p +1.98%Greene King (GNK) 480.00p +1.57%JPMorgan Russian Securities (JRS) 682.00p +1.26%Mothercare (MTC) 414.90p +1.24%Mondi (MNDI) 595.00p +1.19%Logica (LOG) 136.00p +1.19%Laird (LRD) 134.50p +1.13%Lamprell (LAM) 374.40p +1.05%Charter International (CHTR) 815.00p +0.99%FTSE 250 - FallersAvis Europe (AVE) 185.00p -4.64%Drax Group (DRX) 432.90p -3.82%Kenmare Resources (KMR) 45.35p -3.51%TR Property Inv Trust Sigma Shares (TRYS) 85.45p -2.34%Rathbone Brothers (RAT) 1,176.00p -2.33%Premier Oil (PMO) 1,956.00p -2.25%Carpetright (CPR) 674.50p -1.96%Fenner (FENR) 364.70p -1.96%Yule Catto & Co (YULC) 213.80p -1.93%Aquarius Platinum Ltd. (AQP) 341.60p -1.81%---RG