- The FTSE 100 was just about keeping its head above water as lunchtime approached, ticking up 0.1% to 7,035.37.

Investors seem split on China's disappointing growth figures as they could prompt financial stimulus from the Chinese government.


Shopping centre owner Intu Properties rallied 11% to 197.3p as it mulled a proposed £2.91bn takeover bid from Peel Group, Saudi Arabia's Olayan and Brookfield Asset Management.

Bourse operator London Stock Exchange gained 1.1% to £43.32, as it booked a 5% rise in third-quarter revenue and upped its stake in clearing house group LCH.

InterContinental Hotels shed 5.2% to £39.96 after disappointing investors with 1% revenue-per-room growth in the third quarter, and despite pledging to pay a $500m special dividend.

Auto dealer Pendragon hit the skids, falling 9.8% to 23.8p, as it warned annual profits would be hurt by new global engine-testing regulations that are causing vehicle supply disruptions.

Fund manager Man Group, meanwhile, announced a second consecutive $100m share buy back to distribute proceeds of an investment gain. Its shares firmed 0.7% to 143.15p.

Sub-prime lender Provident Financial said the performance at its home credit unit had been hurt in the third quarter by a restructure plan. Investors weren't entirely surprised and its shares fell just 2.4% to 540.6p.

Veterinary drugs supplier Dechra Pharmaceuticals fattened 8.2% to £23.38 on news it had acquired Brazil-based Venco for R$185m, or about £37.8m. Dechra also said it was confident of delivering on its full-year guidance.


Safestyle (SFE:AIM) gained 14.1% to 57.3p after the company responded to market speculation over talks with rival SafeGlaze. According to the statement the Safetstyle Board is considering arrangements with key stakeholders that 'could benefit Safestyle's business and accelerate its recovery'.

At the smaller-company end of the market, Rockfire Resources tumbled 28% to 1.14p after test drilling at its Marengo prospect in Australia's Queensland state failed to find significant gold or copper deposits.

At 11:58am:

[LON:EMG] Man Group PLC share price was +0.63p at 142.73p

[LON:IHG] InterContinental Hotels Group PLC share price was -205.5p at 4011.5p

[LON:INTU] Intu Properties share price was +19.73p at 197.43p

[LON:LSE] London Stock Exchange Group PLC share price was +38p at 4324p

[LON:PDG] Pendragon PLC share price was -2.57p at 23.78p

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