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- Greek talks now underway in Athens.
- Investors await policy decision by BoE tomorrow.
- Reckitt leads risers after full-year results.
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Stock markets rarely have mercy on a growth stock that trips up and so it proved with SuperGroup, owner of the Superdry brand, which issued a profit warning on Wednesday.
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Moving into the afternoon trading session, Cillit Bang maker Reckitt Benckiser maintained its position as the leading riser among blue-chips. The consumer products group said it exceeded its full year targets in 2011, as it announced a strategy for 'continued out-performance'. Net revenue in 2011 rose to £9.49bn from £8.45bn the year before and just a tad higher than market expectations of £9.45bn.
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Reckitt, miners and banks provide a lift on the FTSE 100.
Big movers on the FTSE 250 drag index into the red.
Markets await news from Greek meetings.
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Greek leaders scheduled to discuss draft deal.
Reckitt rises strongly after beating full-year targets.
Miners, financials provide a lift.
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City sources predict the FTSE 100 will open up 13 points from yesterday's close of 5,890, taking its cue from the Dow Jones industrial average, which last night closed at its highest level since May 2008, as hopes rose that Greece is close to agreeing austerity measures.
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Greek talks enter critical stage.
Shareholders raise questions with terms of Glencore/Xstrata merger.
Defensives in demand as investors flee from risk.
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Internet and telephone service provider TalkTalk Telecom took first place on the risers list, having raised its full year earnings guidance as projected cost savings come in ahead of schedule. With just under two months of its financial year left to run, the company has raised full year earnings per share (EPS) guidance by 6% to a range running from 17.0p to 17.5p.
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Both Xstrata and Glencore both fell today as battle lines were drawn over the Glenstrata merger. The opening salvos have been fired in the battle for value over the proposed $90bn merger between the two commodity giants. On one side are the shareholders of Glencore and the managements of both companies (who hold large stakes in their firms). The other faction is made up of unhappy institutional shareholders in Xstrata who believe they are being sold a pup.
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Shareholders raise questions with terms of Glencore/Xstrata merger.
BP predicts flat underlying production in 2012.
Greek talks enter critical stage.