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FTSE remains positive midday but well off earlier highs

MIDDAY REPORT: Headline shares pared early gains by midday, but heavyweight mining issues continued to support the main index and oil producer Shell progressed after announcing a new profit strategy.

G4S reports annual turnover exceeded £7bn in 2009

Security firm G4S this morning reported organic turnover growth of 3.7% for the year to end-December 2009, compared to 9.5% the prior year. Group turnover was up 7.4% to £ 7.008bn, up from £6.524bn in 2008.

Broker News & Views

Filtrona was started with a buy rating and 260p price target at RBS, while Rolls-Royce was upgraded to buy from add at Natixis, target rising to 705p from 565p.

Close Bros holds divi

Close Brothers announced adjusted operating profit from continuing operations of £62.5m for the half-year to end-January, down from £64.9m the prior year.

Bioquell exports soar

Specialist pharma group Bioquell said this morning that revenues were up 14% at £39.2m in the year to end-December 2009 million (2008: £34.4m).
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