Markets: FTSE 100 buoyed by eurozone hopes on Tuesday
17:10 - The picture was rosy for shares around the globe on Tuesday as hopes stay pinned on an action plan from eurozone leaders and the International Monetary Fund, with the FTSE 100 (UKX) enjoying triple-digit gains.
London's leading bourse soared 204 points higher, closing at 5294 as it chased its highest point-gain of the year.
The biggest risers remained unchanged, with Vedanta (VED) and Antofagasta (ANTO) both climbing more than 10%, while Autonomy (AU.) was one of the few stocks to slide, nudging slightly into the red.
"The 3.5% bounce today provides some breathing space for the FTSE 100, moving it away from the psychological 5000 level. Investors are piling into risk-on stocks, with crude oil in the US up 3.5%. This serves to underline the positive attitude over improved European and global economic sentiment," commented Will Hedden, sales trader at IG Index.
"But," he asks, "has the game really changed? The recent range may be fairly wide, with 5400 to 4950 being the rough edges of a very jagged two month picture, but whilst these remain intact, we aren’t any closer to a concrete longer term outlook."
At a glance...
Commodities
Gold: $1,659.27 
WTI crude oil: $83.86
Currencies
GBP/USD: 1.5687
GBP/EUR: 1.1524
EUR/USD: 1.3606
All changes from 08:55 BST
16:49 - Ongoing optimism that European leaders are one step closer to devising a plan to contain the eurozone debt crisis kept the Wall Street rally alive and kicking on Tuesday afternoon.
A rise in oil, copper and gold prices helped the energy and mining stocks along, with Exxon Mobile (XOM) up nearly 3% and Freeport McMoRan Copper and Gold (FCX) up almost 6%.
As a result, the Dow Jones shot 251 points higher to 11295, while the tech-heavy Nasdaq gained 53 points to 2570. The broader S&P 500 followed suit, with a 26-point gain to 1189.
16:31 - Life sciences group ValiRx (VAL) confirmed today that Singapore Volition has proposed a reverse takeover of Standard Capital.
The deal is expected to reach completion on 6 October. Following the deal, ValiRx will be entitled to $1.1 million (c£707,8206) worth of shares in the combined group.
16:16 - Shares in soft drink producer AG Barr (BAG) were given a lift today, after it reported a 4% rise in interim revenue to £124 million, with pre-tax profits marginally ahead at £16.2 million for the period.
"This is a particularly positive result given the challenging comparatives we faced in the first half of the year, the relatively poor summer weather, which has impacted the soft drinks market and a competitive market backdrop," said CEO Roger White, adding that the group remains "cautious" yet "confident" about the second half.
Panmure Gordon analysts Damian McNeela and Graham Jones said the numbers were "respectable" in the current market, and maintained a "hold" rating and a 1,200p target price for AG Barr.
16:00 - Close Brothers (CBG) reported a 13% rise in adjusted operating profit to £131 million for the full year.
The FTSE 250-listed firm's banking division saw a 34% rise, while the securities division gained 8%. The asset management division lost £9 million but made "significant progress" with its transformation.
CEO Preben Prebensen said: "During the year we have exited a number of non-core businesses which leaves us with a more streamlined group and allows us to focus on growing and developing our core businesses in Banking, Securities and Asset Management."
15:46 - Albermarle and Bond (ABM) saw a 5% rise in pre-tax profit to £21 million in the 12 months to end-June.
Pledge book growth was strong, up 21%, as profits from pawnbroking grew by 15% to £31.5 million and gold buying volumes rose by 83%, resulting in a profit of £14.6 million.
CEO Barry Stevenson said the group has experienced an encouraging start to the new financial year: "It is particularly pleasing to have achieved a 5% increase in profitability, as we have yet to see the benefit of profit maturity from investments in the expanding store portfolio."
15:33 - Increased revenue at Augean (AUG) helped the AIM-listed waste and resource management firm narrow its afjusted post-tax loss in the six months end-June.
Augean reported a 19% increase in revenue including landfill tax to £19.4 million, helping it trim its adjusted post-tax loss from £0.3 million to £0.1 million.
The results were in line with expectations, but CEO Paul Blackler warned there had been a softening of the recovery it had seen in the second half of 2010.
He concluded that Augean was well placed to achieve "profit growth and cash generation into 2012 and beyond".
15:21 - The FTSE 100 (UKX) maintained its upward trajectory on Tuesday afternoon, as investor confidence over a solution for Greece held.
London's top share index was 168 points to the good at 5257, with miners maintaining their hegemony on the winners' board. Still leading the way was Vedanta (VED), edging out sector stablemates Fresnillo (FRES) and Antofagasta (ANTO).
Every single constituent was in positive territory, but Autonomy (AU.) found its gains dwarfed by the rest of its top-table rivals.
At a glance...
Commodities
Gold: $1,660.56
WTI crude oil: $82.80
Currencies
GBP/USD: 1.5681
GBP/EUR: 1.1494 
EUR/USD: 1.3631
All changes from 08:55 BST
14:49 - Wall Street joined in the global stockmarket jamboree on Tuesday, thanks to optimism over a solution for the sovereign debt crisis in the eurozone.
Alongside the focus on this side of the Pond, investors digested a fourth successive rise in domestic house prices according to the S&P/Case-Shiller index.
On the indices, the Dow Jones was up 207 points at 11251, the Nasdaq leapt 47 to 2564 and the S&P 500 climbed 26 to 1189.
14:27 - Gold Oil (GOO) gave a lift to investors on Tuesday, as it revealed progress at its Colombian and Peruvian operations.
The AIM-listed firm said that in Peru, the marine 3D seismic survey over block Z34 southern and northern areas had now been completed and the 'BGP Pioneer' returned to port and demobilised.
For more on what helped its shares move marginally higher, read: Progress for Gold Oil in Colombia and Peru.
14:09 - HaiKe Chemical (HAIK) saw its shares drop on Tuesday, as the petrochemicals unit reported half-year results with an uncertain outlook due to the weakness in the global economy and volatility in the international oil market.
HaiKe saw a 71% increase in external sales, to RMB5.4 million, with a profit for the period of RMB46.2 million, up from a loss of RMB144.7 million in the corresponding period.
While the first-half's performance was good, the company said the third quarter had been disappointing and full year numbers now hinge on the final quarter.
13:46 - Half-year results from Obtala Resources (OBT) showed a 36% increase in net assets, to £59.9 million, for the miner.
Group losses for the six months reached £4.6 million.
The cash holding improved by £4.5 million, to £13.3 million, in a trading period that included the acquisition of the outstanding stake of International Diamond Consultants.
13:23 - Half-year results at Game Group (GMG) showed a 9.9% drop in like-for-like sales across the group, to £558.8 million, as market conditions remained tough.
Its pre-tax loss widened from £21.5 million to £51.5 million, but despite CEO Ian Shepherd saying the company has increased its market share in the period, shares in the firm were on the back foot.
"We believe that trading conditions will remain tough for the remainder of the year, and have set our plans accordingly. We are determined to again outperform a difficult market this Christmas," added Shepherd.
13:11 - M Winkworth's (WINK) half-year results today showed a 6.5% rise in sales, to £1.79 million, and flat pre-tax profits at £565,000.
CEO Dominic Agace said: "UK residential transactions fell in the first half of 2011 on mixed sentiment towards the housing market but are still set to match 2010 levels for the year as a whole, with the prime central London market outperforming national trends.
"The market share gains that Winkworth has made in prime areas have offset a reduction in overall transaction numbers and supported commission income."
13:03 - Shares in Journey (JNY) were flying high on Tuesday, following its interim announcement, where the airline caterer confirmed a return to profitability.
Adjusted pre-tax profits reached £74,000, up from a £492,000 loss in the corresponding period.
Chairman Stephen Yapp said: "With the turnaround complete the group is focussed on growth. It is well placed, with significant funds as well as material borrowing facilities."
12:46 - Cash balance and net assets soared at Paragon Diamonds (PRG), according to its unaudited interim results for the six months to 30 June 2011.
The AIM-listed, African-focused diamond production and development company said its cash balance grew £1.6 million to £3.6 million, while net assets were up £8.9 million to £37.8 million on the back of acquisition of International Diamond Consultants and fundraising.
In a statement, chairman Luc Huyghebaert said: "The acquisition of a further 54.2% of International Diamond Consultants has strengthened the groups' asset base considerably and transformed it into a hard rock diamond exploration and development company."
12:23 - British retail sales weakened at their fastest pace for 16 months in September, according to figures from the Confederation of British Industry (CBI). The retail sales balance fell to -15, compared to -14 in August. This is in line with expectations, but the figure is the lowest since May 2010.
The survey showed that retailers expect further stagnation, noted Samuel Tombs, UK economist at Capital Economics, "but with inflation set to rise further, house prices falling and the economy now starting to shed jobs again, even that expectation may prove to be too optimistic in the months ahead."
Howard Archer, chief European & UK economist at IHS Global Insight, said: "The further deterioration fuels concern that already reluctant shoppers will hold back further on their spending as very low confidence takes a further hit from heightened concerns over the economy, jobs and the financial market turmoil."
The CBI data adds pressure on the Bank of England to act on quantitative easing (QE), noted Archer, who believes we will see action on QE by November at the latest.
12:09 - A bullish mood returned to the FTSE 100 (UKX) on Tuesday as a speech by the Greek Prime Minister George Papandreou during his visit to Germany boosted investor confidence.
He said German funding would not be an investment in past failures, but in future successes and spoke of Greece's "superhuman" efforts to cut its debt levels. "Your contribution can be crucial," he told delegates.
London's leading share index was 129 points up at 5218, with miners dominating the winners' board. Vedanta Resources (VED), over 9% to the good, was top of the tree, while Associated British Foods (ABF) was the only faller.
"Miners have felt the pressure in recent weeks with a double whammy of a market collapse and worries about falling global demand. Today's rally is an impressive one, but it is hard to see today's mining sector strength as anything but a dead cat bounce while economies continue to struggle," commented David Jones, chief market strategist at IG Index.
"Looking across the Atlantic, another strong start is expected with the Dow forecast around 130 points higher," he added.
At a glance...
Commodities
Gold: $1,669.60
WTI crude oil: $82.37
Currencies
GBP/USD: 1.5570
GBP/EUR: 1.1507
EUR/USD: 1.3533
All changes from 08:55 BST
11:40 - Tech tiddler Ubisense (UBI) reported that it has acquired US-based geospatial solutions business, InMaps, for $700,000 cash.
InMaps caters to electric and gas utilities, providing products such as GPS to improve reliability and aid regulatory compliance.
CEO Richard Green said: "The products that InMaps has developed for the gas industry are a perfect fit with our own offering and the direction we are taking our Geospatial business."
11:19 - Shares in Central Rand Gold (CRND) lost more than half their value on Tuesday, after the company said its Mining Right licence had been suspended.
The company received notice from the South African Department of Mineral Resources (DMR) and as such operations have ceased with immediate effect.
For more on what sent the shares tumbling, read: Central Rand plunges following licence suspension.
10:55 - Media group Daily Mail and General Trust (DMGT) has warned investors that weak advertising revenues will hit profits this year.
The company said revenue for the 11 months to the end of August was up 1% on last year, up 2% on an underlying basis, with 9% underlying growth from the B2B businesses.
Read: Daily Mail issues profit warning, for more.
10:33 - Quadrise Fuels International (QFI) was celebrating the closure of contracts to commence sea trials of its Marine MSAR fuel.
The AIM-listed firm said it was key step towards commercialisation, as A.P.Møller-Mærsk, AB Orlen Lietuva and AkzoNobel Surface Chemistry AB all entered into contracts with QFI.
"The trial commences with the installation of an MSAR manufacturing unit at the 200,000-barrel-per-day Orlen Lietuva refinery in Mazeikiai Lithuania, followed by the production of an initial volume of Marine MSAR fuel," said QFI, with results expected in the first half of next year.
10:18 - Shares in Topps Tiles (TPT) soared more than 17% in morning trading after the company announced that sales were in line with its lower expectations.
"We expect to report that overall UK revenues for the 52 week period will be in the region of £175.7 million (2010: £182.4 million),” it said, adding: "When restated on a same reporting week basis the total revenues will be approximately 1.7% below the prior year. Like-for-like revenues are expected to show a decrease of 1.9% (2010: increase of 1.7%)."
Analyst Philip Dorgan at Panmure Gordon has a ‘buy’ rating on the stock while Freddie George at Seymour Pierce has a ‘sell’ recommendation with his target price revised down to 22p.
10:05 - Losses widened at AIM-listed coking coal producer Beacon Hill Resources (BHR), but its shares rose despite the news as the company outlined its operational milestones in the six months to the end of June.
Although revenue at the company was more than five times higher - climbing to £292,039, compared with £58,022 in the same period last year - losses spiralled to £1.8 million, up £0.63 million on last time.
For the full story, read: Mozambique plans lift Beacon Hill Resources.
09:45 - Shares in defence giant BAE Systems (BA.) were higher on Tuesday amid rumours that it would announce up to 3,000 job cuts in the UK.
Media reports suggest that the company will confirm the loss of 900 jobs in Brough, East Yorkshire with a further 822 losses in Warton, and 565 in Samlesbury, both in Lancashire.
An additional 655 jobs are expected to be cut in smaller plants.
09:19 - AIM-listed Xtract Energy (XTR) revealed today that it has been informed by Chevron (CVX) that it expects to spud the first well at the P2 block in the Dutch North Sea in November of this year.
Xtract, which has an overriding royalty interst in the prospect, said the Noble Welliver jack-up rig will be on site next month, with the P2-10 appraisal well set for drilling.
"The P2-10 appraisal well will target an existing gas discovery on the P2 block (P2-7, with low levels of CO2) and one of the main objectives is to evaluate commercial hydrocarbon flow rates from an extended reach horizontal well within the Rotliegendes sandstone reservoir," Xtract added.
08:55 - Strong overnight gains in the US and Asia were tracked by the FTSE 100 (UKX) at the open on Tuesday, as investors become increasingly hopeful that eurozone officials will find a way to stem the Greek debt crisis.
The blue chip index climbed 93 points to 5182, as Kazakhstan-focused copper miner Kazakhmys (KAZ) and Mexican silver producer Fresnillo (FRES) recovered from yesterday's spell at the foot of the table to head the winners' board.
Elsewhere in the index, mining giant Rio Tinto (RIO) announced that it has increased its stake in Canadian firm Ivanhoe Mines to 49% of Ivanhoe's issued stock.
Rio spent £73,075,000 buying 0.5% of Ivanhoe's issued share capital on the 22 September, lifting its stake to the maximum under current agreements. Its shares were higher in early trading.
Vancouver-based Ivanhoe is developing a project in Oyu Tolgoi, Mongolia, thought to be the world's largest undeveloped deposit of copper-gold.
US markets...
Despite an uncertain start, US stocks soared to finish near the session's highs on Monday, as optimism that European leaders will reach an agreement to contain the region's debt crisis led investors to snap up beaten-down equities before the end of the September quarter.
The Dow Jones rose 272 points to end at 11043 and reclaim the 11000-point level for the first time in three days, with all 30 constituents ending the day higher.
The S&P 500 jumped 26 points 1162, while the Nasdaq overcame volatility that pulled the index into the red for a substantial part of the day to finish up 33 points at 2516.
At a glance...
Asian markets
Nikkei 225: 8609 ( 235)
Hang Seng: 17951 ( 543)
Shanghai Composite: 2415 ( 21)
Commodities
Gold: $1,654.18
WTI crude oil: $82.35
Currencies
GBP/USD: 1.5567
GBP/EUR: 1.1509
EUR/USD: 1.3528
08:00 - The FTSE 100 (UKX) opens at 5089.
