Resource Stocks Rally in London; Sage Group Up

Mayank Mehta
02 Dec, 2009
New York City

A rally in commodities lifted trading sentiment in London stocks. Brewin Dolphin Holdings full-year net profit declines 29%. Numis Corp slips to a full-year net loss. Carillion secures

[R]4:00 PM London, 11:00 AM New York – A rally in commodities lifted trading sentiment in London stocks. Brewin Dolphin Holdings full-year net profit declines 29%. Numis Corp slips to a full-year net loss. Carillion secures £360 million construction management contract to revitalize Union Station in Toronto, Canada.[/R]

UK stocks edged higher as commodities rallied and world markets regained their footings and closed up for the third day in a row. Dubai World loan crisis which roiled markets last week is still hovering but the fears of wider contagion spreading to emerging markets for now are ebbing.

In London FTSE 100 Index closed higher 28.16 or 0.5% to 5,340.33 and the pound edged higher to close at $1.665 and at €1.105.

Gainers & Losers

Accuma Group Plc the debt consultants surged 81.8% to 15.00 pence.

Brewin Dolphin Holdings PLC added 2.6% to 170.10 pence after the stockbroker and fund manager said full-year revenues were flat at £187 million from a year ago. Net profit for the full-year fell 29.5% to £15.5 million or 7.2 pence per diluted share compared to net profit of £22.0 million or 10.3 pence per share a year ago.

Carillion plc added 0.9% to 296.20 pence after the company said the City of Toronto has appointed Carillion Canada as construction manager for the revitalization of the Union Station, a 5-year project valued at some £360 million.

Galliford Try plc rose 1.4% to 293.25 pence after the construction group said the acquisition of Rosemullion homes will add 9 sites to the company’s existing business in the south west of England, comprising 24 units under development and a landbank of 132 units.

In its last financial year to December 2008, Rosemullion homes turnover was £7.5 million.

Hexagon Human Capital plc plunged 44.6% to 13.00 pence after the executive search firm said operating earnings for the full year will be below market expectations.

Huntsworth Plc increased 6.4% to 66.00 pence after the public relations firm today announces that it is acquiring Dutko Worldwide Holdings, Inc, a US-based public policy management company, for an initial consideration of $33.6 million (or £20.4 million).

Numis Corporation PLC advanced 7.4% to 174.00 pence, the independent investment banking and stock broking group said full-year revenues fell 6.3% to £47.5 million from £50.7 million a year ago. Net loss for the full-year was £8.6 million or 8.4 pence per diluted share compared to net profit of £14.8 million or 14.6 pence per share a year ago.

Optos Plc dropped 1.0% to 94.00 pence after the retinal imaging technology company said full-year revenues fell 3.6% to $97.2 million from $100.8 million a year ago. Net loss for the full-year was $4.3 million or 6.1 cents per diluted share compared to net profit of $4.6 million or 6.6 cents per share a year ago.

Porvair plc closed unchanged at 51.00 pence after the filtration and environmental technologies group said that the difficult economic climate will continue throughout 2010, however the near term order book is encouraging.

The Sage Group PLC rose 1.7% to 218.50 pence after the software firm said full-year revenues rose 11% to £1.44 billion from £1.30 billion a year ago. Net profit for the full-year rose 14% to £189.5 million or 14.42 pence per diluted share compared to net profit of £166.3 million or 12.69 pence per share a year ago.

Telford Homes Plc dropped 5.7% to 97.10 pence after the residential developer in East London said first-half revenues increased £85.9 million from £35.6 million a year ago.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 64 increased, 35 declined and 3 were unchanged.

Cairn Energy Plc decliners in the FTSE 100 index with a loss of 2.61% followed by losses in London Stock Exchange Group Plc of 2.55%, in National Grid Plc of 2.32%, in Legal & General Group Plc of 2.13%, and in The Royal Bank of Scotland Group Plc of 2.09%.

Lonmin Plc led gainers in the FTSE 100 index with a rise of 3.24% followed by increase in The Sage Group Plc of 2.98%, in Autonomy Corporation Plc of 2.64%, in Rio Tinto Plc of 2.55%, in Vedanta Resources Plc of 2.47%.