[R]4:00PM London, 11:00 AM New York – EcoSecurities surged 11% after JP Morgan & Chase subsidiary offers 10% higher than the current bid from Guanabara. Marks & Spencer gains after Morgan Stanley lifts its price target ahead of earnings. The energy metering company Bglobal after it signs a contract with UK subsidiary of Russia based Gazprom.[/R]

In London FTSE 100 Index closed lower 6.48 or 0.1% to 5,004.99 and the pound closed at $1.65 and 1.13 euros.

The rating agency Moody’s Investor Services said that UK banks may have to declare additional £130 billion of loan losses if the current economic conditions prevail. The banks have declared £110 billion of losses since the credit crisis began in 2007.

Gainers & Losers

Antisoma plc added 3.7% to 28.00 pence after the biopharmaceutical company said full-year revenues fell 36% to £25.2 million from £39.5 million a year ago. Net loss for the full-year was £16.4 million or 2.7 pence per diluted share compared to net profit of £12.3 million or 2.6 pence per share a year ago.

Asia Digital Holdings PLC surged 19.3% to 1.94 pence an online marketing group said first-half revenues rose 28% to £8.6 million from £6.7 million a year ago. Net loss for the first-half was £1.08 million or 0.24 pence per diluted share compared to net loss of £819,000 or 0.18 pence per share a year ago.

Avocet Mining plc fell 7.8% to 64.50 pence after the company expected a delay in first gold pour from the Inata gold project in Burkina Faso after material changes to the plant design increased project cost.

Bglobal plc surged 15.1% to 34.25 pence after the energy meter provider said it has signed an agreement to deliver smart metering services to Gazprom Marketing & Trading Retail Ltd, the UK retail arm of the Russian energy company Gazprom.

Cadbury plc added 0.5% to 780.00 pence.

City of London Investment Group PLC rose 2.0% to 260.15 pence after the emerging markets asset management group said its full-year pre-tax profit decreased to £5.38 million from £10.69 million in the year-ago period. Profit for the year dipped to £3.84 million from £7.13 million in the prior year period. Earnings per share for the year decreased to 15 pence from 26 pence a year ago.

Revenue for the year declined to £20.15 million from £24.87 million in the comparable period.

DM plc surged 21.0% to 11.50 pence after the scratch card and direct marketing firm said half-year pre-tax profit declined to £2.28 million from £2.67 million from a year ago. Profits decreased to £1.74 million from £1.98 million last year.

EcoSecurities Group plc surged 10.9% to 101.00 pence after the Irish carbon credit specialist announced an agreement with Carbon Acquisition Company Ltd to be acquired valuing the company at £122.9 million.

The offer is 120% higher than the last business day price of 45.5 pence when the offer commenced and 11% higher than the revised offer from Guanabara Holdings BV set up by Pedro Moura Costa, former president of the company.

Carbon Acquisitions Company is a subsidiary of JP Morgan Chase & Company.

Helphire Group plc the supplier of replacement vehicles to no fault accident drivers surged 12.1% to 37.00 pence.

International Ferro Metals Limited dropped 4.2% to 57.00 pence after it swung to a full-year loss on lower ferrochrome output and prices but said it was confident a recent recovery in the stainless steel ingredient market is sustainable.

Just Car Clinics Group plc decreased 0.3% to 54.33 pence after the vehicle repair firm said first-half revenues rose 1.9% to £21.6 million from £21.2 million a year ago. Net profit for the first-half fell 7.7% to £394,000 or 2.7 pence per diluted share compared to net profit of £427,000 or 2.9 pence per share a year ago.

J Sainsbury plc closed unchanged at 332.00 pence after the supermarket giant has chosen David Tyler as its new Chairman, according to The Sunday Times and The Sunday Telegraph.

Kentz Corporation Limited fell 3.9% to 194.50 pence an engineering group said first-half revenues rose 0.06% to $328.8 million from $328.6 million a year ago. Net profit for the first-half rose 63% to $12.9 million or 11.09 cents per diluted share compared to net profit of $7.9 million or 10.99 cents per share a year ago.

Lees Foods Plc closed unchanged at 110.50 pence after the Scottish cake and sweet supplier said that chairman and chief executive Raymond Miquel, has resigned from both posts.