Share Dealing
Market update (PM): Kazakhmys results raise sector hopes
Rob Langston, 26 August 2010
Kazakhmys was the biggest riser at the end of play, as the miner's share price increased by 5.2 per cent to 1,129p.
The mining group had earlier led a rally for mining stocks after its first half results impressed investor, reporting an 87 per cent rise in earnings before interest, tax, depreciation and amortisation rise by 87 per cent to approximately £837 million ($1.3 billion).
Amec saw share price rise strongly, finishing 5.1 per cent up to 891.5p, after it too reported first half results.
The engineering and project management group reported a 20 percent rise in earnings before interest, tax, depreciation and amortisation of £113.5 million.The firm also said its order book had strengthened further to £3.5 billion during the six month period.
Samir Brikho, chief executive at Amec, said it expected strong performance to continue during the second half of the year.
Brikho said, 'New contract wins and improvements in the order book signal a further strengthening in our strategic position across core sectors.
'Our balance sheet remains strong and we continue to invest in carefully targeted acquisitions.'
Silver miner Fresnillo saw share price rise by 4.8 per cent to 1,045p.
Commercial real estate investment trust (REIT) Segro slid by 3.8 per cent to 264.6p after reporting an uninspiring set of results this morning.
Software manufacturer Invensys saw share price drop by 1.8 percent to 230.6p. BT Group saw share price slip by 1.5 per cent to 130.6p, while Guiness owner Diageo dropped by 1.5 per cent to 1,050p.
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