StockMarketWire.com - FTSE indices reversed their slender early gains to be down a wafer midday as jawboning over Greece's 'No' vote to an international bailout ramped up. In a so far tepid session it was house builders, supermarkets and resources providing mild ballast.

To noon, FTSE 100 was down 8.02 points, or 0.12%, to 6527.66. FTSE 250 shed 34.33, or 0.2%, to 17,408.9. EU's Presiden, Jean-Claude Juncker, chided Greece's referendum, but said a basis for a deal existed. European stock markets were mildly lower. At 11.52am, crude was up 1.12%-1.45%

House builders fell behind Taylor Wimpey (TW.), off 1.73% to 187.9p, with Barratt Developments (BDEV) a jot behind and Persimmon (PSN) following. Also down were several financials behind Standard Life (SL.), off 1.51% to 433.35p, with RBS (RBS) surrendering 1.02% to 342.95p.

Marks & Spencer (MKS), down 1.33% to 539.75p, said all its FY guidance remains unhanged. Its food and online performances were strong, but UK General Merchandise booked a 0.4% like-for-like dip in sales. The read across dented Sainsbury (SBRY), Morrisons (MRW) and Tesco (TSCO). Several retail specialists also lost traction.

Multiple resources outfits felt the pinch behind oily BP (BP.), down 1.18% to 424.45p, and miner Antofagasta (ANTO), 1.08% lower to 661.75p. Roughly 36 blue chips made gains. ARM (ARM) led with a 2.27% rise to 1059.5p on a broker upgrade, with several utilities, pharmas and commercial property stocks behind.

BIGGER MOVERS

Omega Diagnostics (ODX) fell 18.03% to 18.75p on delays to launching a new HIV-testing product. Further development is needed to improve the device's stability.

iEnergizer (IBPO), down 14.55% to 23.5p, has raised £2.12m via a placing of 15.12m new shares with EICR Cyprus Ltd at 14p each.

PeerTV (PTV) was up 12% to 0.14p after it said the meeting of secured loan-note holders of subsidiary Digitek SMT Assemblies approved a resolution to restructure the loan notes.

ECONOMIC NEWS

UK industrial output rose 0.4% in May, ahead of forecasts for a fall of 0.2%, data from Office for National Statistics showed. Meantime, UK manufacturing production fell 0.6% in May, the data showed, ahead of forecasts for a 0.1% rise.

LONDON HIGHLIGHTS

Eagle Eye (EYE) rose 8.56% to 215.5p as it won a multi-year contract with Sainsbury’s (SBRY) and talked confidently about its future prospects and strategic progress. Solid State (SOLI), down 6.13% to 842.5p on profit taking, after hiking its FY pretax profit 40%, and lifting its payout to 12p, from 8.5p.

SerVision (SEV) jumped 6.25% to 4.25p as it bagged a CCTV contract at Gatwick Airport. The deal is worth and initial £20,000. Robert Walters (RWA) gained 5.39% to 435p after a Q2 trading update showed net fee income grew 11% on the year and 15% at constant currencies. UK NFI was up 19% driven by financial services.

Cyan Holdings (CYAN), up 2.7% to 0.2p, said H1 trading was in line with management views. ASOS (ASC) lost 1.61% to 3789p despite a strong trading statement for the four months to June. Retail sales were up 20% to £386m, with a better-than-expected recovery in gross margins.

Avacta (AVCT) rose 2.86% to 1.26p on synthetic antibodies sales in the year to end-July would be at least in line with market views. Wilmington (WIL), up 2.94% to 262.5p, has agreed a $20.6m deal for US healthcare and finance events company Financial Research Associates. Vast Resources (VAST) was up 1.49% to 1.7p as it closed an agreement to nab a 50.1% stake in Sinarom Mining, which owns the Manaila polymetallic mine, Romania, for 1 euro plus debt.

Stagecoach (SGC), down 0.94% to 399.6p, has been told by the Department for Transport that it is ending the discussions with Stagecoach South Western Trains Ltd about the direct award of a new rail franchise. DfT will be inviting tenders for a new long-term franchise.

Other stocks in the news included Howden Joinery Group (HWDN), McBride (MCB), Interserve (IRV), Gama Aviation (GMAA), Young & Co.'s Brewery (YNGA), Servelec (SERV), Renewable Energy Generation (WIND), DekelOil Public (DKL), Connect Group (CNCT), Cineworld (CINE), Ultra Electronics (ULE) and Somero Enterprises (SOM).



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