Shares closed higher this Wednesday 26th April 2006.
The FTSE100 was 17.7 points higher at 6,104.3 with the FTSE250 ahead 30.7 points at 9,997.6 and the AIM100 up 43.7 points at 6,507.4.
Volume was fair with 2.8 billion shares changing hands in 296,159 deals.
Today’s look at individual Stocks:
Amvescap surged to the top of the blue chip leader board today after the fund management group reported a much better set of first-quarter results.
Citigroup said Amvescap's first-quarter EPS of 13 cents, was up 44% from a year earlier and 23% above its estimates. The broker also reiterated its buy advice, as did UBS, but the latter argued although the figures were 'very good' they were ‘not that good’. After all that the shares still gained 50p, to close at 624p.
Centrica was higher closing up 5p at 307.25p after the Financial Times reported that the British PM Tony Blair has ruled out attempting to block any potential takeover of the group by Russia's Gazprom. This added to confirmation yesterday from the Russian gas giant that it is considering a bid for the UK utility.
Legal & General gave us better than expected first quarter numbers to close up 0.75p at 142.25p. Legal & General said
total new business sales for the first three months of 2006 came in at £390m on an annual premium equivalent basis, up 27% on the same period last year, and ahead of the consensus forecasts of £337m 
Other insurers such as Friends Provident gained 4.5p at 199.75p, Aviva added 9.5p to 812.5p, ahead of results tomorrow, and Royal & Sun Alliance was also up 2p at 139.5p.
Certain mining stocks also lent support to the FTSE today as a 7% jump in silver and copper prices hit new highs, this helped to offset a disappointing update from BHP Billiton. In response Merrill Lynch said the figures were lower than forecast, but the broker argued the shortfalls were primarily due to one-off items. UBS also said it sees 39% upside potential to BHP's EPS based on commodity spot price assumptions. BHP Billiton still closed up 2.5p higher at 1,172p in volatile trade and Antofagasta also gained to the tune of 18p at 2,468p.
On the downside this Wednesday, British Energy fell 33p to 682p following a bearish note on the carbon emissions trading market from UBS. The Swiss broker said the price of carbon allowances in Europe fell by more than 10% yesterday as three countries reported surprising surpluses. It added the falling carbon prices would have a negative impact on power prices and the profits for generators. Drax shares also fell closing down 13p at 793p.
Ex-dividend factors also weighed on Northern Rock, down 26p at 1,078p.
Cadbury Schweppes was down 11.5p at 553p.
William Morrison was also down 4.25p at 188.25p and Hanson closed down 14.5p at 748.5p. Not a good day for those particular stocks, was it?
Meanwhile we had more good news from JD Wetherspoon which gained 12.75p at 395.75p following strong third-quarter like-for-like sales figures, prompting Bridgewell to upgrade its rating to neutral from underweight.
One of the portfolio stocks Tullow Oil also gained, up 11.25p at 423.25p after Morgan Stanley initiated the oil explorer at overweight with a 475p price target.
The broker said Tullow Oil is its top pick in the sector. The Footsieblog still rates this stock a buy with a price target of 500p
The Portfolio:
The star of the portfolio today has to belong to The Carphone Warehouse (CPW) gaining 5.04% to close up at 338.75. One other stock from the portfolio Victoria Oil and Gas, gained 4.31% to close higher at 254.00p. Not a bad day on the whole.
