London open: Winning streak ends

16th Jul 2009 08:12

London's top stocks have fallen back in early dealings on Thursday, ending a three day winning streak.Data search software firm Autonomy is leading the fallers despite reporting record revenues and profits for the second quarter. Adjusted profit before tax rose to $89.6m from $50.8m the year before. Revenues rose to $195.2m from $125.7m. Pubs group Enterprise Inns said its underlying trading performance appears to be stabilising, with the rate of decline in beer sales reducing. Currently 6100 pubs, 81% of the group's estate, are let on substantive agreements and are delivering net income down by less than 3% year on year. The cash strapped operator said its debt reduction programme continues in line with expectations.Sports retailer Sports Direct said its 'back to basics' approach was yielding results as it posted a rise in revenues though profits fell. In the year to April 26, revenue climbed by 8.6% to £1.37bn, while underlying pre-tax profits fell by 20.2% to £68.2m. Like-for-like sales in the UK climbed by 2.5%. International sales were up by 32.3% to £102m.Mothercare posted a healthy rise in sales over the first quarter as shoppers flocked to the baby products retailer's summer sale. Total sales climbed by 9.4%, with UK like-for-like sales up by 5.1%. The firm said it was helped by strong performances from Early Learning Centre franchises in Mothercare stores and strong sales from Direct, the online division. International sales rose by 32.7%.Engineer and construction contractor Balfour Beatty has reached financial close on a £176m public/private partnership (PPP) contract with Cumbria County Council.Mexico-based silver miner Fresnillo reported a record quarterly attributable silver production of 9.6 million ounces, up 6.7% from last year, and said it remains confident of achieving its full year 2009 production target levels.Butter cheese and milk supplier Dairy Crest saw strong sales of core brands as it focused on advertising its cheese and spread products and reduced milk production.Fund manager Henderson said it expects half-year pre-tax profit to be half of levels seen the same time a year earlier despite one quarter's contribution from New Star. Assets under management at Ashmore Group increased by 6% to $24.9bn in the final quarter ended 30 June.Advertising firm Aegis has named Nick Priday as chief financial officer with effect from 1 September.FTSE 100 - RisersPetrofac Ltd (PFC) 718.00p +3.46%Schroders (SDR) 848.50p +1.74%Home Retail Group (HOME) 283.00p +1.07%Schroders NV (SDRC) 719.00p +0.91%Fresnillo (FRES) 566.00p +0.89%Amec (AMEC) 648.50p +0.86%Pennon Group (PNN) 483.25p +0.83%Lloyds Banking Group (LLOY) 69.30p +0.83%Prudential (PRU) 389.75p +0.78%London Stock Exchange Group (LSE) 681.00p +0.74%FTSE 100 - FallersAutonomy Corporation (AU.) 1,240.00p -5.92%Legal & General Group (LGEN) 56.37p -1.67%Anglo American (AAL) 1,774.00p -1.44%Diageo (DGE) 885.00p -1.39%TUI Travel (TT.) 231.75p -1.28%Sage Group (SGE) 179.20p -1.16%Eurasian Natural Resources (ENRC) 735.50p -1.14%Xstrata (XTA) 658.50p -1.13%Vedanta Resources (VED) 1,430.00p -1.11%BHP Billiton (BLT) 1,420.00p -1.08%