Markets: Financials push FTSE 100 higher on Friday
17:15 - The FTSE 100 (UKX) managed to hold onto gains on Friday after investors were buoyed by economic data and kept cool ahead of the decision on the next tranche of bail-out cash for Greece.
London's leading index closed 19.69 points in the black at 5905.07 with construction giant CRH (CRH) leading winning stocks, up 5%, while Ashmore (ASHM) remained in the red.
On AIM, takeover rumours kept Bowleven (BLVN) red hot and its shares ended the session 62% higher. PetroNeft (PTR) was struggling, down 38% after its gloomy update.
Trading volumes on Interactive Investor went through the roof, with users buzzing over Xcite Energy (XEL), Gulf Keystone Petroleum (GKP) and Bowleven (BLVN).
Yusuf Heusen, sales trader at IG Index noted the broad risk appetite is driving markets higher, although there is a degree of caution given that the New York Stock Exchange will be shut for Presidents' Day on Monday.
"It seems remarkable, but markets still seem willing to believe in the possibility of a reasonable outcome to the Greek tragedy, even when all the missed deadlines and failed reforms are taken into account," he said.
"The overall story remains very much the same as this time last week; markets refuse to go much lower from their current position, and seem to be slowly girding their loins for another lurch higher. Only worries over Greece have really delayed this next move, so for now we wait until Monday evening to see whether the eurozone has discovered yet another reserve of patience with which to deal with its turbulent southern neighbour," Heusen concluded.
At a glance....
Commodities
Gold: $1,719.86 
WTI crude oil: $102.94 
Currencies
GBP/USD: 1.5821
GBP/EUR: 1.2028
EUR/USD: 1.3155
All changes from 09:00.
16:50 - US stocks saw a mixed performance as trading continued on Friday ahead of the Greek bail-out decision.
The Dow Jones was 29 points up at 12933, while the S&P 500 climbed a fraction of a point to 1358 and the Nasdaq was 11 points behind at 2948.
16:39 - Umeco (UMC), which provides advanced composite materials, said it delivered a robust performance overall in the four months to end-January.
Revenue from continuing operations was 8.7% higher year-on-year.
The company said its successful development continues to be underpinned by demand for lighter-weight, higher-strength materials driven by structural factors that include environmental regulation, fuel costs and safety considerations. It remains on track to deliver a full-year result in line with the board's expectations.
Analysts are clearly fans of Umeco, with both Investec and Liberum Capital rating the stock a 'buy', while Arden took an 'add' stance.
16:28 - Minera IRL (MIRL) and Solomon Gold (SOLG) both updated investors on Friday.
For all the news, read: Gold companies update investors.
16:17 - Oxford Catalysts Group (OCG) was boosted by favourable underlying market conditions and demand for its distributed scale synthetic fuels.
The group said on Friday it is enjoying record levels of interest and enquiries in its technology and continues to actively evaluate partnership and sales opportunities with major corporations.
Chief executive Roy Lipski said: "The group's had another successful year and continues to make good progress towards commercialisation with existing, new and potential partners."
16:06 - Shares in Botswana Diamonds (BOD) slipped after it said it has conditionally raised £1.51 million gross through a placing and direct subscriptions of 37,750,000 new ordinary shares at 4p apiece.
This represented a discount of 11% to the closing price of 4.5p yesterday (16 February).
It said the majority of the net proceeds will be deployed on the company's exploration projects in Botswana, Cameroon and Zimbabwe.
15:55 - Clean energy products company Acta SpA (ACTA) has agreed terms for the sale of its 50% stake in Solgen to joint venture partner Fedi Impianti.
The joint venture company was formed in 2010 to undertake EPC photovoltaic installation contracts. The sale is expected to be completed within the next four weeks, subject to certain completion conditions including the transfer of the joint venture participation to Fedi Impianti by notary act.
The disposal when completed will generate a non-cash profit for Acta and cash payment of approximately €150,000 (c£125,000) in outstanding receivables at completion.
Acta also confirmed that the conditional sale of two photovoltaic project consents announced on 9 January has been completed and it is in advanced negotiations to dispose of its remaining EPC installation contract.
15:44 - There was good news for Apple (AAPL) on Friday as it won its patent dispute against Motorola Mobility over the "slide-to-unlock" smartphone feature.
A spokeswoman for the Motorola said: "Today's ruling in the patent litigation brought by Apple in Munich, Germany, concerns a software feature related to phone unlocking in select Motorola devices sold in Germany.
The company added it had already introduced a new design for the feature and so the ruling would not impact sales.
Apple said it would not be commenting on the decision.
15:33 - Shares in real estate and hotel firm Orchid Developments (OCH) plunged nearly 15% as it confirmed that takeover talks had ended.
It comes after the company revealed last month that it had received a preliminary takeover approach. On 27 January, the company denied speculation that it had found a buyer for its key asset - the Grand Mall in Varna, but said that it had received an approach.
Earlier this month, Orchid cautioned investors that the economic environment in Europe was likely to remain challenging in 2012, which it said could have an adverse impact on its cash flow and complicate its efforts to sell assets.
15:22 - Altona Energy (ANR) has conditionally acquired a 95% interest in two advanced coal exploration licences in China.
The licences, located in the Xinjiang Uygur Autonomous Region, are estimated to hold 1.17 billion tonnes of total coal resources under Chinese standards and are well connected to good road infrastructure and growing local and regional coal markets.
For the full story, read: Altona Energy unveils Chinese licences.
15:11 - Shares in real estate and hotel firm Orchid Developments (OCH) plunged 25% as it confirmed that takeover talks had ended.
The news came after the company revealed last month that it had received a preliminary takeover approach. On 27 January Orchid denied speculation that it had found a buyer for its key asset, the Grand Mall in Varna, but said it had received an approach.
Earlier this month, Orchid cautioned investors that the economic environment in Europe was likely to remain challenging in 2012, which it said could have an adverse impact on its cash flow and complicate its efforts to sell assets.
15:00 - The FTSE 100 (UKX) shook off some of its caution to hold on to positive territory as trading wore on during Friday ahead of the crucial decision on Greece.
London's blue-chip index was 34 points ahead at 5919 as Vedanta Resources (VED) took the top spot on the winners' list, up 5%, while Ashmore (ASHM) languished.
On AIM, Bowleven (BLVN) soared 68% as it became a takeover target for Dragon Oil (DGO). Meanwhile, Alexander David Securities (ADS) slumped 46%.
At a glance...
Commodities
Gold: $1,722.12
WTI crude oil: $103.25
Currencies
GBP/USD: 1.5808
GBP/EUR: 1.2008
EUR/USD: 1.3157
All changes from 09:00 GMT.
14:50 - Wall Street opened with marginal gains on Friday with investors feeling optimistic over Greece and buoyed by domestic economic data which supported the Federal Reserve's view that inflation remains in check.
The Dow Jones added 32 points to 12936, while the S&P 500 rose four points to 1362 and the Nasdaq was off just under one point at 2959.
14:33 - Empire Energy Corporation International, in which TXO (TXO) has a $1.5 million (c£0.9 million) convertible loan note, has applied for exploration licences with the intent to develop identified Tasmania Basin black coal potential.
The convertible loan note gives TXO a call option to acquire a 19.9% equity interest in Empire. Additionally, TXO will be awarded a 10% carried interest in the ordinary share capital in the special purpose vehicle by Empire, "in recognition of previous support and introductions".
"We are excited that TXO shareholders will be able to directly benefit from any upside from Empire's proposed drilling and further seismic surveys to prove up possible resources and reserves to a Joint Ore Reserves Committee (JORC) code reporting standard on the licence areas," commented chairman Tim Baldwin.
14:11 - InterQuest Group (ITQ) has appointed Gary Goldsmith as chief operating officer with immediate effect.
Goldsmith spent 14 years at SThree (STHR), advising various recruitment companies on a consultancy basis and has recently worked with InterQuest Group's chief executive Mark Braund
"Gary has an outstanding track record in building profitable IT staffing businesses and has provided valuable consultancy services to us in recent months," said executive chairman Gary Ashworth.
13:49 - Capital and Counties Properties (CAPC) announced that Hammersmith & Fulham Council has agreed to the plans to redevelop the Seagrave Road car park into a residential quarter.
The permission further cements the relationship between Capital and Counties Properties and certain members of the Kwok family (Kwok Family Interests). The company has a conditional agreement with Kwok Family Interests to form a 50:50 joint venture regarding assets in and around Seagrave Road.
Completion of the joint venture is expected upon expiry of the three-month statutory period which follows finalisation of the section 106 Agreement and sign-off from the Mayor of London, said the company.
13:29 - Spectris (SXS) announced "record" sales and operating profit in all segments as its published its 2011 full-year interim management statement.
Operating margins stood at 18.2%, with the company increasing dividends by 20%.
Spectris admitted that the current macroeconomic outlook remained "uncertain", but stressed that its continued investment in new products and applications, together with growth opportunities, made Spectris "well positioned" for the year ahead.
13:15 - MTI Wireless Edge (MWE) was the top-performing stock on the AIM, with shares up more than 21%, as the company announced that it had made a profit in 2011.
Pre-tax profit came in at $0.25 million, achieved through continued initiatives to improve operating margins, contain or reduce overheads and reduce working capital usage relative to sales. It made an operating loss of $0.65 million in 2010.
Additionally, the company said that it was entering 2012 with confidence. "The underlying drivers of our business, such as continued growth in data usage and increasing subscriber numbers, are part of long-term trends which we expect to continue for the foreseeable future," said chief executive Zvi Borovitz.
12:53 - Shares in Russian-focused oil firm PetroNeft Resources (PTR) tumbled 30% as it revealed that production at Lineynoye was below expectations at 2,300 barrels of oil per day (bopd).
At the end of last year, the company guided towards a production target of between 4,000 and 5,000 bopd by the end of the first quarter of 2012.
For more, read: Disappointing production sends PetroNeft tumbling.
12:26 - Dragon Oil (DGO) said on Friday that it may make an offer for Bowleven (BLVN).
Caspian Sea-focused Dragon Oil said [it] "notes the recent movement in Bowleven's share price and confirms that it is in the preliminary stages of exploring a possible offer for all of the issued and to-be-issued share capital of Bowleven".
Read: Dragon Oil weighs up offer for Bowleven, for the full story.
12:00 - The FTSE 100 (UKX) continued to flirt with the 5900 level, continuing Thursday's momentum from the positive US data and helped by renewed hopes regarding Greece.
The blue-chip index climbed 19 points to 5904, with Royal Bank of Scotland (RBS) climbing 4%.
"The more sceptical traders are somewhat tired of the seemingly regular news of the ever-imminent bail-out agreements, but regardless it does take some off the pressure off markets and allows other aspects to be focused on," stated Rupert Osborne, futures dealer at IG Index.
On the AIM front, shares in PetroNeft Resources (PTR) lost a third of their value, while MTI Wireless Edge (MWE) soared 25%.
Xcite Energy (XEL) continued to be the top-traded stock on Interactive Investor.
Looking ahead, Osborne was predicting the Dow to start at around the 12,900 level. "With the US shut on Monday for the Presidents' Day holiday it could end up being a quiet session on Wall Street," he said.
At a glance...
Commodities
Gold: $1,730.59
WTI crude oil: $102.75
Currencies
GBP/USD: 1.5831
GBP/EUR: 1.2053
EUR/USD: 1.3137
All changes from 09:00 GMT.
11:39 - Anglo American (AAL) enjoyed record operating profits during 2011 as it was boosted by higher commodity prices in the first half of the year.
"Despite short-term uncertainty persisting in the global economy, particularly in Europe, the longer-term outlook for Anglo American's diversified mix of commodities remains strong," commented chief executive Cynthia Carroll.
Read: Anglo American announces record operating profits, for more.
11:15 - UK retail sales volumes unexpectedly surged 0.9% in January, after spiking up 0.6% in December.
"Given the key role of consumer spending, the unexpected and impressive 0.9% jump in retail sales volumes in January is a massive boost to hopes that the economy has returned to growth following the fourth quarter contraction of 0.2% quarter-on-quarter, especially as it follows on from improved news on manufacturing and services activity in January," commented Archer Howard, chief UK and European economist at IHS Global Insight.
However, Archer questioned whether consumers would continue to keep spending. He believes that consumers' willingness to spend was limited due to high and rising unemployment, elevated debt levels, low consumer confidence and consumer price inflation running at double the rate of earnings growth.
10:48 - IMI (IMI) has acquired Grupo InterAtiva, a Brazilian isolation valve business.
InterAtiva will join IMI's severe service division. InterAtiva has existing strong customer relationships and approvals in Brazil with both the major engineering, procurement and construction firms and also with the major oil and gas companies, said the company.
IMI will pay an initial cash consideration of £22 million and a deferred consideration up to a maximum of £21 million payable based on delivery of stretching financial targets over the next three years.
"The consideration is being funded out of IMI's existing resources and banking facilities," the engineering group confirmed.
10:20 - Shares in Sirius Minerals (SXX) were given a shot in the arm as it stated progress at its third hole, SM3, at the York Potash Project had been "good".
"Current work to date at SM3 has been free from the fluid-loss zones and the resultant delays experienced at SM2," the company confirmed.
Read: Sirius hails York Potash Project progress, for more.
09:54 - Following the mandatory tender offer made on 23 November 2011, PMTL Holding now owns 99.48% of Polymetal International's (POLY) ordinary shares.
Polymetal now intends to exercise its right to proceed with a statutory squeeze-out of the remaining Polymetal shareholders on terms and within the period, as provided under applicable Russian law.
09:27 - Severn Trent (SVT) confirmed that trading across the group was in line with its expectations as it published its interim management statement to 16 February.
Consumption levels in the water division are expected to "lower" year-on-year, with the level of bad debts expected to remain "broadly stable" compared with the first six months.
However the company warned that operating costs were expected to rise year-on-year due to the impact of inflation, prudent investment in its networks and quasi taxes, partially offset by efficiency savings.
The services division is expected to deliver an improved second half performance compared to the first half. "However, markets remain challenging, with no significant upturn expected before the start of the next financial year," said the company.
09:00 - The FTSE 100 (UKX) advanced on Friday, supported by investor optimism on a Greek bail-out.
London's leading share index rose 18 points to 5904.
"Strong economic numbers from the US and optimism [over] a final resolution to the current Greek crisis has brought a surge of confidence back into the markets," commented Mike McCudden, head of retail derivatives at Interactive Investor. "Risk appetite for equities is clearly improving but as we head into the weekend we should expect the rally to pause for breath."
Financial stocks drove the gains, with Royal Bank of Scotland (RBS) climbing more than 3%.
On the AIM front, Petroneft Resources (PTR) lost more than 30%, while MTI Wireless Edge (MWE) soared 20%.
Looking ahead, the UK retail sales data for January will be released at 09:30 GMT.
US markets
US markets ended the day in the black as weekly jobless claims fell to a near four-year low last week.
The Dow Jones climbed 123 points to 12904. The S&P 500 rose 15 points to 1358.
The Nasdaq closed 44 points up at 1296, just 40 points shy of the all-important 6000 level.
Looking ahead, January's consumer prices data will be released at 13:30 GMT, along with real weekly earnings.
At a glance...
Asian markets
Nikkei 225: 9384 ( 146)
Hang Seng: 21491 ( 214)
Shanghai Composite: 2357 ( one)
Commodities
Gold: $1,731.74
WTI crude oil: $102.61
Currencies
GBP/USD: 1.5807
GBP/EUR: 1.2035
EUR/USD: 1.3117
08:00 - The FTSE 100 (UKX) opens at 5885.38.
