LONDON (ShareCast) - The Footsie is set to recover after six consecutive days of selling, despite US and Asian markets falling lower last night and this morning, respectively. City sources expect the FTSE 100 to open up 35-40 points from yesterday's close of 5,223.

In company news, the specialist investment firm, asset manager and mezzanine finance provider Intermediate Capital saw pre-tax profits rise to £108.8m in the first half, up from £81.2m in the second half of last year, and higher than the £105.1m in the first half of last year. However, the group warned that the volatility in capital markets and the uncertainty in the economic outlook will likely result in a lower level of realisation in the second half.

AIM-listed gold miner Ariana Resources says it has found high surface silver grades from the Karakaya Vein at its Kepez prospect which complement existing high gold grades. As such, the group says that high gold equivalent grades could potentially lead to a doubling to the resources estimate for Kepez and lead to earlier-than-planned drilling at the Red Rabbit Project.

Kyrgyz Republic-focused gold explorer Chaarat Gold Holdings has announced positive gold grades from its ongoing drilling programme in the Tulkubash Project. Furthermore, mineralisation extended from a previous strike of 360m to 920m.

"The prospect of extended strike, as well as improved predictability and continuity, which is effectively confirmed by this drilling, will potentially enable Chaarat to increase production from this low cost ore body and further improve its profit potential for the early years of operation," said chief executive officer Dekel Golan.

BC

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE