Footsie is back in the red

Mining companies were the biggest winners on the FTSE 100 Index today, escaping a disappointing finish for blue chip shares as a whole.

The top flight index lost sight of an earlier 22 point gain to finish the day back in the red after a negative opening on Wall Street despite strong US GDP figures.

With the Dow Jones Industrial Average down 25 points as trading in London closed, the Footsie slipped back below the 4200 support level to close at 4198 - an 8.4 point loss for the day.

Results from the likes of Rentokil Initial, Hilton and Tomkins were given a mixed reception, but the biggest gains were for mining stocks after a solid set of results from Anglo-Australian group BHP Billiton.

Billiton climbed 9.5p to 413p after announcing a 9% rise in full-year earnings and making bullish comments about prospects for Asia.

While the scale of Billiton’s rise today was eclipsed by others, including rival Xstrata, the gain came on top of a recent strong run and took the stock to its highest point for more than four years.

Meanwhile Xstrata topped the FTSE 100 risers board – up 14.5p at 485p – while RioTinto closed 22p higher at 1370p and Anglo American ended the day ahead 12p at 1177p.

Another solid top flight move came from services company Rentokil Initial, which climbed 5p to 204.5p after announcing a 7.4% rise in half-year pre-tax profits to £200.5 million.

Investors were also cheered by chief executive James Wilde’s pledge to increase the full-year dividend by 10% and expand further into Europe.

Hotels-to-betting group Hilton’s 15% fall in interim underlying profits was also in line with expectations, although concern over prospects sent the company’s shares heading in an opposite direction to Rentokil’s.

Following a good run of late, Hilton eased 4p to 198p, while rival hotels group InterContinental lost 13.5p at 500.5p. On the betting side, FTSE 250-listed rival William Hill was also 9.25p lower at 315p.

Meanwhile engineering group Tomkins clawed back most of the ground it lost earlier in the session after it posted a 14% fall in half-year operating profits - at the lower end of forecasts. The stock ended the day off just 0.75p at 261.25p

One of the biggest moves was seen outside the top flight after retailer WH Smith said the recent heatwave would leave its mark on full-year figures.

The FTSE 250 stock tumbled almost 7% – off 25.75p to 351.25p – as it added that the competitive trading environment and pricing pressure on CDs had also impacted on its UK business.

The news did little for other high street companies with Woolworths off 0.5p at 38.75p, Marks & Spencer down 6.25p at 304.25p and Boots 8p lower at 665.5p.

The biggest FTSE 100 risers were Xstrata up 14.5p at 485p, Rolls-Royce ahead 4.5p at 167p, Smith & Nephew up 10p at 403p and Rentokil Initial ahead 5p at 204.5p.

The biggest fallers were United Utilities down 5.5p at 105p, Cable & Wireless off 3.75p at 119.5p, Imperial Tobacco down 28p at 996p and InterContinental Hotels 13.5p lower at 500.5p.