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Markets

LSE Volume: 4,881 M
Avg Vol: 4,341 M +12%
Fallers
2,119
Unchanged 597
Risers
2,152

FTSE 100 reverses lower as CNA, ISAT flop on news

London equities were mixed to midday as value-driven early gains among now-falling blue chips were undermined by worse-than-expected UK services-sector data. Centrica (CNA), Inmarsat (ISAT), Rolls-Royce (RR.) Sage (SGE) and Smith & Nephew (SN.) sank on disappointing updates.

RR. steady amid challenging year

Rolls-Royce confirms that overall trading in the first few months of the year has been in line with expectations and that the outlook for the year, which has its challenges, is unchanged.

Centrica's hike

Centrica's (CNA) shares flopped as it detailed plans to raise about GBP750m via a placing to fund acquisitions and cut debt. It intended to issue about 350m shares, or 7% of its issued share capital.

BT earnings up

BT Group posts adjusted pre-tax profits of GBP3,473m for the year to the end of March - up 9% on last time - and plans to invest billions on fibre, 4G and customer service.

Inmarsat profits fall

Inmarsat posts after-tax profits of $45.6m for the first quarter - 41.1% down on last time.