Markets: Greek bail-out plan and Bank of England buoy FTSE 100 on Thursday
17:11 - The FTSE 100 (UKX) held onto gains throughout Thursday, buoyed by action from the Bank of England and the light at the end of the tunnel on the Greek bail-out as the government there agreed cuts of €300 million (£252 million).
London's blue-chip index closed 19.54 points ahead at 5895.47. Oil giant AMEC (AMEC) was top of the pops, up 3%, while Tate and Lyle (TATE) faced a bitter drop of 3%.
On the AIM index it was a good day for financial minnow Brainspark (BSP) after the company reduced its debt by 40% and moved to petition to reverse a winding-up order imposed on 30 January. Its shares climbed 67%.
At the bottom of pile, Active Energy Group (AEG) moved 30% lower.
Interactive Investors users traded Lloyds Banking Group (LLOY), Royal Bank of Scotland (RBS) and Gulf Keystone Petroleum (GKP) heavily in both directions.
On the broader economic horizon, the European Central Bank held rates at 1%, although David Jones, chief market strategist at IG Index, noted that its boss, Mario Draghi, "was not exactly upbeat about the situation, saying that any economic recovery would be gradual at best".
“Overall however, markets continue to hold around their recent highs, so investors will be hoping that everything is now in place to permit a new burst of risk appetite that will lift markets once again," Jones commented.
At a glance...
Commodities
Gold: $1,745.69 
WTI crude oil: $99.84
Currencies
GBP/USD: 1.5838
GBP/EUR: 1.1916 
EUR/USD: 1.3296
All changes from 09:00 GMT.
16:45 - US markets paused for breath as investors seemed unclear on the details of the Greek bail-out.
"Greece still has to cut €300 million (£252 million) from its budget, and has shown reluctance to cut pensions to find this money. This raises the question of where the cuts will actually come from, and we'll have to wait a bit longer to find this out," pointed out David Jones, chief market strategist at IG Index.
The Dow climbed up 12 points to 12896. The S&P 500 trudged up a point to 1351, while the Nasdaq rose six points to 2922.
For every three stocks that rose, four fell on the New York Stock Exchange.
16:31 - Customer volumes, revenue and profit grew at leisure group Rank (RNK) in the six and 12 months to the end of December.
Results for the second half of last year show revenues at £295.9 million, up 3.2% compared to the second six months of 2010. Operating profit over the period rose to £34.6 million, an increase over 2010 of 3.6%.
A second interim dividend per share of 1.1p will be paid.
Analysts at Panmure Gordon said the figures were below consensus but added: "We expect weakness in the shares today but view this as a buying opportunity given the group's underlying growth prospects, potential for cash returns and/or earnings-enhancing acquisitions (e.g. Gala Casinos)." They kept their 'buy' stance on the stock.
16:18 - Design and engineering consultancy group WS Atkins (ATK) updated investors on Thursday, confirming that it continues to trade in line with company expectations and its outlook for the year remains unchanged despite market headwinds.
The company said its UK business performed well in the period, notwithstanding the interruption in a rail signalling contract awards previously highlighted. The period started slowly for its North American arm during the seasonally weaker half of the year.
Analyst Andy Brown at Panmure Gordon described the third quarter statement as 'solid' and kept his 'buy' recommendation, adding: "A sound balance sheet and attractive valuation, we reiterate our positive stance."
16:05 - Insurance underwriter Catlin (CGL) - the operator of the biggest syndicate on Lloyd's of London - managed to make a profit in 2011 despite a $961 million (c£607 million) bill in gross losses from natural disasters.
Net pre-tax income slumped to $71 million in 2011 from $406 million the year before. The company stayed in the red by bumping up its premium rates. These rose to $4.51 billion from $4.07 billion the year before, while net premiums written advanced $0.52 billion to $3.84 billion.
Earnings per share plummeted 11 cents from 98 cents in 2010, but the company still raised its dividend; the US full year payout rose to 44.8 cents from 42.5 cents while the sterling pay-out improved to 28.0p from 26.5p.
15:52 - SVG Capital (SVI), the private equity investor which owns Birds Eye and Hugo Boss enjoyed a 10.9% rise in its net asset value (NAV).
The unaudited NAV per share at the end of 2011 was 350.2p.
The company said the boost came from a significant increase in the valuation of Hugo Boss, which rose £96.1 million between 2010 and 2011 on improved earnings. Another business, Iglo, jumped £18.1 million.
SVG also banked £247 million in distributions including the sale of its stake in the Chinese gaming firm Galaxy Entertainment for £70.5 million.
It will return £170 million to shareholders in the form of tender offers and share buybacks during 2012.
15:39 - African Minerals (AMI) has closed the $417.7 million (£263.5 million) financing package provided by the Standard Bank of South Africa.
The facility agreement has been completely drawn down to redeem the previous secured loan facility in full, at par, said the company.
15:26 - The number of buy-to-let properties soared by 84,000 in 2011, according to the Council of Mortgage Lenders.
Over the last three months of 2011, a total of 34,800 buy-to-let mortgages, with a total value of £4 billion, were advanced, according to figures from the trade body.
Read: Buy-to-let market spikes in 2011, for the full story.
15:13 - Greek leaders have agreed a much-anticipated deal on the austerity measures required for a bail-out.
European Central Bank President Mario Draghi confirmed the decision on Thursday afternoon, following several days of talks between Prime Minister Lucas Papademos and three party leaders from within his coalition cabinet.
For the full story, read: Greece strikes bail-out agreement.
15:00 - Reports that US jobless claims dropped in the week ending 4 February further boosted the FTSE 100 (UKX) on Thursday.
London's leading share index climbed 26 points to 5901.
AMEC (AMEC) jumped up more than 3%, while Evraz (EVZ) fell almost 4%.
At a glance...
Commodities
Gold: $1,746.22
WTI crude oil: $99.44
Currencies
GBP/USD: 1.5849
GBP/EUR: 1.1931
EUR/USD: 1.3300
All changes from 09:00 GMT.
14:47 - Markets across the Pond were cautiously positive at the open on Thursday as Greek leaders agreed a much-anticipated deal on the austerity measures required for a bail-out and as US jobless claims fell.
The claims dropped by 15,000 to 358,000 in the week ended 4 February, the Labour Department said.
The Dow Jones climbed 22 points to 12906. The Nasdaq and the S&P 500 were up two points each at 2918 and 1352 respectively.
14:25 - Shares in Brainspark (BSP) surged over 38% as chief executive Alfredo Villa asked if the £160,700 owed to him could be given to him as 1,004,375 new Brainspark ordinary shares at a price of 16p per share.
If the board agrees to this proposal, Villa will have personally injected £500,000 in return for 3,125,000 new Brainspark shares.
Additionally, ahead of a court hearing on 13 February, the company has filed a witness declaration stating that all the creditors which had requested settlement have now been paid and that the company reduced its debt by 40% in 2011 from £10,781,000 to £6,488,000. The debt position now represents less than 25% of the company's assets.
The company will update shareholders on 13 February following the court hearing.
14:00 - Visa (V) is working in collaboration with Monitise (MONI) to offer mobile services that are fully managed by Visa and can be accessed with any mobile device, any mobile channel, and with any eligible debit, credit or pre-paid account.
"Mobile money innovation is transforming how consumers manage accounts, providing them with real-time account access and information on the go, while also enhancing the overall experience with their account," said general manager Lisa Stanton. "The launch of mobile services offered by Visa DPS is a great win for financial institutions in North America eager to utilise the mobile channel to serve their customers."
13:46 - Asalus Medical Instruments, in which Fusion IP (FIP) has a 46% shareholding, confirmed that it had completed a first closing of its £0.7 million funding round following a successful pre-clinical study of Asalus' lead product, Innervision, a smoke clearance device.
"The funds will be used to commence Innervision's 'first-in-man' clinical study, subject to regulatory approval, and begin the process of scaling up the technology, prior to its expected launch in 2013," the company said.
The £292,000 first closing includes investments from existing investors Fusion, Finance Wales and IP Group (IPO). Investors have an option to invest a further £392,000, subject to investor approval and the achievement of milestones. If the further option to invest is taken up, Fusion will have a 44% shareholding in Asalus.
13:32 - Aquarius Platinum (AQP)'s chief executive Stuart Murray stated that he "could not have been more wrong" when he thought the worst was behind the company when he published results through to December 2010.
For the six months to December 2011, production and revenues decreased by 14% and 25% respectively, with South Africa being affected by Section 54 safety stoppages and permitting delays, while increased royalties and mineral lease/ground rent charges damaged Mimosa in Zimbabwe.
Mine operating net cash flow decreased by 53% to $25 million (c£16 million) as "acquisitions and growth capex had to be funded from cash resources".
13:18 - Diageo (DGE) published a strong set of first half results, with organic sales and organic earnings before interest and tax (EBIT) rising 6.8% and 8.9% respectively.
"We are cautious as to the consumer and economic trends we will face in 2012 but these first half results have positioned us well and they have demonstrated that Diageo has the brands, the routes to market and the people to deliver our medium term guidance," said chief executive Paul Walsh. The mid-term guidance includes 6% organic sales compounded average growth rate (CAGR) and 200 basis points of margin improvement over three years.
Sam Hart, analyst at Charles Stanley, believes that Diageo’s "unrivalled" portfolio of premium spirits brands and distribution network, along with 40% exposure to the emerging markets, leaves it uniquely well placed to benefit from ongoing premiumisation trends in the global spirits industry. However, he noted that Diageos’ current valuation of 15 times earnings reflected good future prospects.
"We expect a period of share price consolidation in the near term, but would continue to add to holdings on any signs of sustained profit-taking. Our recommendation stays at Accumulate," he stated.
13:04 - Investors in Rolls-Royce (RR.) took gains as the company reported a record order book up 5% to £62.2 billion last year.
Underlying revenues at the engine-maker also increased, rising 4% to £11 billion to deliver record underlying pre-tax profit of £1.16 billion, up 21% on the previous year.
The company confirmed a full-year dividend of 17.5p, up 9%.
A note from brokers Killik & Co said: "We would use any weakness in the shares as an opportunity to gain exposure to a global leader exposed to the long-term theme of increased air travel."
12:50 - As expected, Tate and Lyle (TATE) confirmed that it had "performed well" during the first nine months of the financial year, and reiterated that it was "on track" to deliver a good performance for the full year.
On the negative side, the company stated that it was seeing some softness in demand for industrial starch in Europe and that ethanol margins were coming under pressure in US. On the positive side, management confirmed a satisfactory outcome from the 2012 US sweetener negotiations, achieving price increases of just above the 10% required to cover cost inflation.
"This interim management statement means fiscal year 2012 is, in our view, essentially in the bag and we have much better visibility regarding 2013 following the conclusion of the pricing round," commented Graham Jones, analyst at Panmure Gordon.
As a result, he raised his pre-tax profit forecast from £325 million to £334 million for 2013, but maintained his 'hold’ recommendation.
12:32 - YouGov (YOU) confirmed that "double-digit organic revenue growth" had been achieved in the six months to 31 January, but reminded investors that investments in developing new markets and products had reduced profit margins.
Additionally, the group's balance sheet held net cash of approximately £10 million as at 31 January 2012.
The company is due to publish its interim results in April 2012.
12:13 - The Bank of England will inject £50 billion in additional quantitative easing into the economy to continue to shore it up against the risk of another recession.
The announcement came as the Bank kept the UK base rate on hold at a record-low 0.5%.
For more, read: Bank announces £50bn quantitative easing package
11:58 - The FTSE 100 (UKX) trudged up a nervous 18 points to 5894, ahead of the interest rate decision expected at noon.
"Today is widely-expected to be 'more quantitative easing day' from the Bank of England, with Sir Mervyn King and his happy band forecast to chuck another £50 billion at the recalcitrant British economy. As a result, traders are opting to hold fire before the announcement at midday, lest the Old Lady of Threadneedle Street springs any surprises on us," stated Ben Critchley, sales trader at IG Index.
On the corporate front, Admiral Group (ADM) rose almost 3%, while British Land (BLND) fell almost 4%.
Looking ahead, Critchley was calling the Dow to open up 25 points higher ahead of the US weekly jobless claims data.
At a glance...
Commodities
Gold: $1,731.64
WTI crude oil: $99.29
Currencies
GBP/USD: 1.5831
GBP/EUR: 1.1938
EUR/USD: 1.3251
All changes from 09:00 GMT.
11:41 - Expectations for the future were mixed as BG Group (BG.) upgraded its guidance, while Rio Tinto (RIO) took a more cautionary stance. Anglo American (AAL) also updated its investors ahead of its full-year results on 17 February.
For a round-up of the stories, read: Mixed outlook for trio of mining giants.
11:19 - SABMiller (SAB) is to double its capacity in Uganda with construction of new $80 million (c£50 million) brewery.
The development of the new brewery follows a $29 million investment to expand capacity at the existing Jinja site in 2009 and a cumulative $25.6 million investment to develop maltings and effluent-treatment plants in 2011. Total capital expenditure in the country over the past three years had totalled $130 million.
The company also took the opportunity to highlight the 28% growth in the Ugandan beer market over the year to December 2011. "Average per-capita beer consumption is still relatively low at around eight litres per year, compared to an average of around 60 litres in South Africa," the company stated.
10:57 - Performance in the last quarter was weaker than expected at Vodafone (VOD).
The world's largest mobile phone operator said group service revenues grew by 0.9% on the year in the final three months of 2011.
For the full story, read: Vodafone reveals weaker-than-expected performance.
10:34 - UK manufacturing output rebounded by a better-than-expected 1% month-on-month in December.
"December's appreciable bounce in manufacturing output is very good news; and together with the improved January survey evidence, boosts hopes that the sector is past the worst and is on course to return to growth in the first quarter, thereby helping the overall economy to also return to growth," said Howard Archer, chief UK and European economist at IHS Global Insight.
However, Archers reminded investors that December's rise in manufacturing output followed six successive months of falling production and that the sector still faced a very challenging environment.
10:12 - Nighthawk Energy (HAWK) moved to reassure investors as it announced that it would commence a comprehensive work-over programme focused on 15 wells on the Jolly Ranch Project in the US.
The project, of which Nighthawk is the operator and in which it holds a 75% working interest, had been plagued by under-investment over the past year as both Nighthawk and its partner were restricted by cash shortage.
Read: Nighthawk announces new Jolly Ranch investment, for the full story.
09:48 - The spending spree continued apace at WPP (WPP) as it announced a double acquisition on Thursday.
XM Asia, a subsidiary of the advertising giant's operating company JWT, has bought a stake in Magnivate, a leading digital agency in Indonesia whose clients include Danone, Samsung and Unilever (ULVR).
Another of WPP's operating companies, tenthavenue, in partnership with GroupM, has snapped up Wisereach, a leading mobile marketing agency in China.
WPP's businesses in the Asia Pacific region now generate annual revenues of over $4 billion (£2.5 billion), while Greater China is currently WPP's fourth-largest market with revenues of $1.1 billion.
09:22 - Gulf Keystone (GKP) has appointed Strand Hanson and Perella Weinberg Partners as joint corporate advisers with immediate effect.
The pair will be responsible for the coordination of and advice on the sale of the company's 20% working interest in the Akri-Bijeel block in the Kurdistan region of Iraq.
Operator Kalegran's P50 resource estimate for the Bijell discovery is 2.4 billion barrels of oil in place, while the ongoing 2012/13 exploration and appraisal programme is targeting existing and identified hydrocarbon prospects in the Akri-Bijeel block.
09:00 - Optimism that Greece was finally getting its debts under control pushed the FTSE 100 (UKX) higher on Thursday.
Greek Prime Minister Lucas Papademos said he hoped that all problems would be ironed out before a meeting of eurozone finance ministers at 17:00 GMT, where finance minister Evangelos Venizelos is expected to present a commitment to make budget savings worth €3.3 billion (c£2.8 billion) this year.
London's leading share index rose 12 points to 5888, with BG Group (BG.) the top performer. Shares in the gas company climbed almost 3% as chief executive Sir Frank Chapman said the outlook for global gas and liquefied natural gas demand was strong.
"The prospect of further quantitative easing from the Bank of England later today is doubtless helping here, as is rising optimism that the Greek government will manage to pass the next round of austerity measures," commented Mike McCudden, head of derivatives at Interactive Investor.
In terms of economic data, UK December industrial output figures are due at 09:30 GMT.
The Bank of England February rate decision is due at 12:00 GMT. While interest rates are expected to stay at 0.5%, £50 billion worth of quantitative easing has been priced into the markets. The European Central Bank will also announce its latest interest rate decision at 12:45 GMT.
US markets
Markets across the Pond ended with mild gains on Wednesday after news that Greece had drafted a new financing deal with the European Union and International Monetary Fund.
The Dow Jones trudged up six points to 12884. The Nasdaq climbed 12 points to 2916, while the S&P 500 saw a three-point ascent to 1350.
Looking ahead, US weekly jobless claims are scheduled for release at 13:30 GMT, with US December wholesale inventories out at 15:00 GMT.
At a glance...
Asian markets
Nikkei 225: 9002 ( 13)
Hang Seng: 21010 ( eight)
Shanghai Composite: 2349 ( two)
Commodities
Gold: $1,731.35
WTI crude oil: $99.16
Currencies
GBP/USD: 1.5834
GBP/EUR: 1.1919
EUR/USD: 1.3305
08:00 - The FTSE 100 (UKX) opens at 5875.93.
