StockMarketWire.com - CLOSING REPORT: Headline shares finished the day higher as investors sought bargains with renewed confidence after positive moves on Wall Street and a decision in Europe to ban short selling in 4 countries.





At close, the FTSE100 was up a creditable 157.2 points at 5320.





US MARKETS

At the time of writing, the Dow Jones Industrial Average was trading up 68.3 points at 11,211.6.

U.S. business inventories rose 0.3% in June, compared to a fall in May now revised to 0.9%.

However, the rise announced by the Commerce Department was slightly less than expected, which indicated that companies were remaining cautious about future demand. Economists had expected a rise of 0.5%.

Inventories are a key factor determining GDP and these figures indicate that the growth in the second quarter will be lower than has been currently forecast. LONDON MARKETS Shares enjoying a positive end to the week included Inmarsat, putting on 9.7%, Weir Group, up 6.54% and Essar Energy up 6.36%.

Kazakhmys saw a rise of 6.34% with Aggreko up 6.28%. Rolls Royce was roaring upwards to finish 6.16% higher, with BT Group seeing a rise of 6%.

Kingfisher was higher by just under 6% with GKN seeing a rise of 5.84%.

The only loser on the UK’s main market (if you can call it a loser at all) was Randgold Resources which dropped off by a mere quarter of a percent to finish at 6170p. Everything else in the FTSE 100 was higher on the day.

International Public Partnerships (INPP) has acquired the UK Government's investment interest in the Building Schools for the Future (BSF) programme.

INPP has acquired 100% of the interests in Building Schools for the Future Investments (BSFI) from the Department for Education and Partnerships UK.

BSFI will be acquired for approximately £60m. which will be funded by INPP partly through available cash and partly through use of its corporate debt facility.

Torchmark Corporation, a holding company specialising in life and supplemental health insurance for "middle income" Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies, has raised its quarterly dividend to $0.12 per share.

The dividend will be paid at the beginning of November. Caledonia Mining released sparkling second quarter/first half results and received a strong recommendation from Edison.

The strong performance was largely due to the achievements at its flagship Blanket gold mine in Zimbabwe where production was up 12%.

The company said it planned to increase production even further and was upbeat on its future prospects.

BHP Billiton is to undertake a major deal in Australia. It has signed a heads of agreement with Leighton Holdings for the $735m. purchase of its HWE Mining subsidiaries, which provide contracted mining for the Western Australia Iron Ore (WAIO) operations.

The heads of agreement covers equipment, taking on 2,500 employees and related services on the Area C, Yandi and Orebody 23/25 operations.

BHP Billiton's President Iron Ore, Ian Ashby commented: “While this move to an owner-operator model will remove a layer of complexity and costs from our business, the real focus of this proposed transaction is the workforce.”



At market close:

[LON:IAT] INVESCO Asia Trust share price was -0.5p at 148.5p

[LON:WEIR] Weir Group share price was +117p at 1907p



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