UK Market News

LONDON (ShareCast) - Footsie (news) closed the day nursing triple-digit losses as investors took fright following poor US monthly jobs figures.

WPP (LSE: WPP.L - news) was the day's worst performer as Citigroup (NYSE: C - news) downgraded the UK advertising firm to sell from hold, saying a continuation of the trends in the second quarter would suggest a 7.5% organic sales decline in fiscal 2009 and limited growth in fiscal 2010.

Rio Tinto (LSE: RIO.L - news) also fell despite a strong response to its $15.2bn rights issue. Shareholders have taken up 96.97% of the shares offered to them, with major shareholder Chinalco has taken up its entitlement in full.

London Stock Exchange (LSE: LSE.L - news) fell after it announced a new pricing scheme yesterday. The stock market operator says the new tariff would have resulted in £3m worth of trading fee reductions between January and March.

Diageo (LSE: DGE.L - news) , which announced yesterday it is cutting 900 jobs in Scotland as part of a major restructuring, topped the risers.

Carphone Warehouse (LSE: CPW.L - news) and Vodafone (LSE: VOD.L - news) have ended their three year row over monthly contract sales. Vodafone stopped using the retailer for deals involving monthly contracts in October 2006, after it tied itself to an exclusive deal with Phones4U, Carphone's main high street rival.

Argos owner Home Retail (LSE: HOME.L - news) suffered a major revolt over a new director remuneration package at its AGM today, with 35.6% of shareholders voting against the deal.

Nick Prettejohn is quitting his job as chief executive of Prudential's UK and Europe business after three and a half years in the role, having missed out on the top job earlier this year.

Pub groups are one of the strong sectors. Brewing and pub group Greene King (LSE: GNK.L - news) reported profits ahead of forecasts made at the time of its rights issue in April that raised over £200m for the group. Enterprise Inns (LSE: ETI.L - news) , Marston's and Punch are all up in sympathy.

Specialist computer and video games retailer Game Group (LSE: GMG.L - news) reported a 15.4% drop in like for like sales in the 21 weeks to 27 June, but said it remains confident in the outlook for the full year. The shares have taken a bashing, even so.

Oilfield support services firm Petrofac (LSE: PFC.L - news) has landed a gas compression project worth over $350m. Petroleum Development Oman (PDO) has awarded Petrofac a contract for the Kauther gas-field depletion-compression project.

Intermediate Capital Group (LSE: ICP.L - news) (ICG), a leading investor in and manager of buyout debt, today announced a fully underwritten 7 for 2 rights issue to raise £351m.

Shares in Elan (Dublin: DRX.IR - news) rallied on news that Johnson & Johnson will acquire substantially all of the assets and rights of the Irish drug firm related to its Alzheimer's Immunotherapy Program.

Johnson & Johnson, through its affiliate, will invest $1bn in Elan in exchange for newly issued American Depositary Receipts of Elan which will represent 18.4% of its outstanding ordinary shares.

Flexible pipeline supplier Wellstream Holdings has secured 90% of 2009's anticipated revenues at the halfway point.

Serge Crasnianski is to take over as interim boss at photo booth operator Photo-Me International until the company finds a permanent replacement for Thierry Barel. Crasnianski is the company's major shareholder and was made deputy chairman yesterday.

Speciality pharmaceutical company ProStrakan has avoided a legal battle with Aventis Pharma by settling a tax issue out of court.

Tikit said trading in the second quarter proved to be disappointing and warned that it expects its market in the second half of the year to remain difficult.

Sierra Leone-focused miner African Minerals has raised £63.8m ($105m) from a cash placing with institutional investors in North America and the UK.

The share price of turnaround investment company Volvere (LSE: VLE.L - news) continued its good run as the chairman said all of the company's businesses have performed extremely well in 2009.

FTSE 100 - Risers Diageo (DGE) 905.00p +0.89% Petrofac Ltd (PFC) 683.00p +0.52% Friends Provident Group (FP.) 68.09p +0.18% Admiral Group (LSE: ADM.L - news) (ADM) 877.50p +0.11%

FTSE 100 - Fallers WPP Group (WPP) 384.50p -7.01% Anglo American (LSE: AAL.L - news) (AAL) 1,726.00p -5.81% Rio Tinto (RIO) 2,035.00p -5.70% London Stock Exchange Group (LSE) 663.50p -5.48% Lonmin (LSE: LMI.L - news) (LMI) 1,157.00p -5.01%

FTSE 250 (news) - Risers Carpetright (LSE: CPR.L - news) (CPR) 579.00p +3.67% Intermediate Capital Group (ICP) 505.50p +3.16% Greene King (GNK) 422.25p +2.99% Enterprise Inns (ETI (A024810.KQ - news) ) 133.50p +2.89% Britvic (LSE: BVIC.L - news) (BVIC) 293.00p +2.63%

FTSE 250 - Fallers Game Group (GMG) 142.00p -13.41% Dunelm (DNLM) 212.75p -7.50% Aquarius Platinum Ltd. (AQP) 210.00p -7.18% Regus (LSE: RGU.L - news) (RGU) 61.50p -6.82% Aegis Group (LSE: AGS.L - news) (AGS) 86.50p -6.23%