Positive corporate newsflow spurs Footsie2007-08-02 17:01:33

Unilever put on 61.50 to 1565.50 - the Anglo-Dutch conglomerate - and maker of Dove soap and Knorr soups - reporting that net income in Q2 came in at 1.56 billion 2006: 986 million.

Underlying sales were up 5.8% - analysts had been looking for around 4.8%. Meanwhile, the company said it now expects full-year growth at the upper end of its 3-5% target range

Barclays added 12.50 to 690 - the banking giant reporting that H1 profit rose to £2.63 billion H1 2006: £2.3 billion.

It also confirmed that its investment banking unit, Barclays Capital, will boost profits by at least 15% a year through 2008 and has limited risk exposure in the sub-prime mortgage lending market.

Centrica eased 0.75 to 354.25 - the energy producer posting stronger-than-expected operating profit of £1.248 billion. The City had pencilled in £1.17 billion.

Principal reason for the strong numbers was robust performance in its core British Gas retail energy unit.

The firm cautioned however that the strong gains made in H1 won't be repeated in H2.

It also said it plans to invest about £2 billion during the next 3 years on infrastructure in order to secure new UK supplies.

Mitchells & Butlers fell 1.50 to 746.50 - the restaurants and bars operator announcing it has delayed plans to spin off £4.5 billion of property until the current volatility in the debt markets has stabilised.

The owner of the O'Neill's pubs chain was to team up with the R20 vehicle run by property tycoon and activist shareholder, Robert Tchenguiz. Back in May the company announced it was selling 50% of the freeholds on 1,300 pubs into a joint venture with Tchenguiz.

Homeserve firmed 9 to 1723 - the home emergency insurance and services provider announcing that it's purchasing Homeserve Iberica S.L.U. of Reparalia Reparalia from FCC Construccion S.A., part of FCC, the diversified Spanish construction group. Financial terms of the deal weren't disclosed.

Reparalia is one of Spain's leading providers of property repair services and emergency claims handling for some of Spain's fastest growing home insurers.

For the year ended December 31st 2005 and 2006, the audited accounts for Reparalia reported turnover of 23.2 million euros and 32.9 million euros respectively.

Reparalia's gross assets at December 31st 2006 were 9.1 million euros.

Civica

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2007-08-02 17:01:33 © Moneyextra.com