UK Indexes Near 22-month High, Experian Falls

Mayank Mehta
15 Apr, 2010
New York City

UK stocks closed reached to the levels last seen in two years as commodities advance and consumer sentiment decline. Experian Plc declined after it reported lower revenue growth in the second half. Dana Petroleum finds more gas.

[R]4:00 PM London, 11:00 AM New York – UK stocks closed reached to the levels last seen in two years as commodities advance and consumer sentiment decline. Experian Plc declined after it reported lower revenue growth in the second half. Dana Petroleum finds more gas.[/R]

UK stocks traded higher tracking gains in commodities and crude oil after China reported 11.9% economic growth in the latest quarter. Banks led the gainers and consumer sentiment declined.

In London FTSE 100 Index closed higher 28.95 or 0.50% to 5,825.20 and the pound edged lower to close at $1.546 and edged higher to close at €1.140.

The index of consumer confidence declined 9 points in March from February to 72 according to the latest survey conducted by Nationwide Building Society.

Gainers & Losers

Concurrent Technologies Plc dropped 5.1% to 37.00 pence after the manufacturer of high-end embedded computer products said 2009 revenues rose 2.4% to £12.9 million to £12.6 million a year ago. Net profit for the year rose 9% to £2.5 million or 3.53 pence per diluted share compared to net profit of £2.3 million or 3.24 pence per share a year ago.

Dana Petroleum plc rose 0.9% to 1,281.00 pence after the oil & gas group announce that it has made a commercially viable gas discovery at the Platypus prospect in the UK southern North Sea.

Eaga plc decreased 1.2% to 136.40 pence after the energy efficiency company trading during the period was in line with company’s expectations. Revenues in company’s heating and renewable business segment were a little lower than expected.

Experian PLC declined 2.0% to 622.00 pence after the credit bureau said revenue from continuing activities increased 3% at constant exchange rates. Group organic revenue growth was 2% year-on-year.

McBride plc fell 0.3% to 221.50 pence and personal care products for supermarkets to sell under their own label announce the appointment of Chris Bull as Chief Executive Officer with effect from May 4.

Moneysupermarket.com Group PLC rose 0.7% to 76.30 pence after the price comparison website said internet revenues for the first quarter improved throughout the period and were approximately 6% ahead of the same period last year.

PZ Cussons plc rose 0.9% to 272.60 pence after the soap maker said revenue and profits have continued to grow despite challenging trading conditions in the supermarkets which continue to operate with high levels of promotional activity.

Rio Tinto plc fell 1.0% to 3,917.00 pence.

Sportingbet Plc rose 2.0% to 75.50 pence after the online betting firm confirms its intention to apply for admission to listing of its ordinary shares on the premium segment of the official list of the UK listing authority and admission to trading on the London Stock Exchange’s main market for listed securities.

Uniq plc slipped 7.6% to 24.00 pence after the chilled and frozen convenience food producer said 2009 revenues rose 0.2% to £287.2 million to £286.7 million a year ago. Net loss for the year was £20.9 million or 18.4 pence per diluted share compared to net loss of £56.2 million or 49.4 pence per share a year ago.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 62 increased, 39 declined and 1 were unchanged.

Experian Plc decliners in the FTSE 100 index with a loss of 2.76% followed by losses in Home Retail Group Plc of 2.41%, in British American Tobacco Plc of 1.55%, in G4S Plc of 1.12%, and in Admiral Group Plc of 1.04%.

HSBC Holdings Plc led gainers in the FTSE 100 index with a rise of 2.98% followed by increase in Barclays Plc of 2.92%, in Petrofac Limited of 2.86%, in The Royal Bank of Scotland Group Plc of 2.45%, and in BT Group Plc of 2.25%.