Good Morning all.

Midday Market Wrap

LONDON (AFX) - Shares in Centrica PLC remained higher in midafternoon trade, but are below their session peaks as brokers downplayed bid rumours, dealers said.
By 2.20 pm, Centrica shares were up 11 pence at 254-1/2 after jumping 19-1/2 pence to 263 in late morning trade amid talk of a possible bid from either Gaz de France, Royal Dutch Shell or Norsk Hydro.
Dresdner Kleinwort Wasserstein repeated its 'sell' advice and 205 pence target on Centrica however, advising clients that although a 300 pence per share bid is not impossible, it sees a 20 pct downside if a bid fails to materialise.
The German broker cautioned that it expects further customer losses over the next 12 months, relating to a residential price increase of around 15 pct in the next few months and also highlighted concerns over the rollout of the group's new billing system.

Afternoon all

End of day market wrap