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Kingfisher's wings clipped

...Profit-taking after Thursday's spurt on Russian takeover speculation left British Gas owner Centrica 63/4p lower at 2931/4p.

The group touched 337p amid intense speculation that Russian state gas group Gazprom might launch a bid.

Citigroup advised clients to buy because other interested parties may be flushed out even if Gazprom does not bid.

Should Gazprom decide to make a move, it is unlikely it would receive UK regulatory approval.

Rupert Murdoch's BSkyB firmed 81/2p to 505p.

Value investor Brandes Investment Partners has acquired a 3.1pc stake via a mixture of ordinary shares and American depositary receipts.

Franklin Resources has increased its stake to 10.1pc from 9pc.

GTL Resources, which is building an ethanol plant in Illinois, added 0.37p to 2.43p on turnover of 48m.

Still reeling from Monday's shock profit warning which saw its valuation collapse 45pc, iSoft fell 101/4p further to 181p.

The health software firm said it expects a GBP55m shortfall in full-year revenues after delays to the NHS's computer upgrade.

AIM-listed e-retail, the online retail consultant, jumped 21/2p to 51/2p following its reverse takeover of online specialist music and fashion retailer EBTM (Everything But The Music) for GBP1.5m.

US institutional buying following a recent upbeat roadshow lifted Ceres Power 15p to 240p.

Funeral parlour group Dignity gained 153/4p to 4791/4p after revealing plans to return GBP80m, or GBP1 a shar...

European Filings Of SPD476 (Mesalazine) For Treatment Of ...

...If approved, SPD476 would offer a once-daily mesalazine treatment for active mild to moderate "The European submissions for SPD476 represent the achievement of another important milestone for Shire," said Shire Chief Executive Matthew Emmens.

"Currently there is no once-daily oral treatment for As previously announced, Shire submitted a New Drug Application for SPD476 to the U.S.

Food & Drug Administration in December 2005.

Shire also recently filed a New Drug Submission for SPD476 with Health Canada.

SPD476 is the only Shire has licensed from Giuliani S.p.A.

the exclusive rights to develop and commercialize SPD476 in the US, Canada, Europe (excluding Italy) and the Pacific Rim.

Giuliani S.p.A.

retains the development and commercialization rights to SPD476 in Italy.

MMX was developed by Cosmo S.p.A.

SPD476 SPD476 is a novel, high-dose 5-aminosalicylic acid (5-ASA; mesalazine) in a delayed and extended release formulation (MMX) being studied for the induction and maintenance of remission of active, mild-to-moderate ulcerative colitis....

Drugs Formerly Contraindicated For IBD Prove Beneficial For Pain ...

...Study findings show that NSAIDs were well-tolerated, with COX-2 inhibitors offering the most effective pain relief in this group.

"In the past, physicians have considered These studies represent an important advance for patients with inflammatory bowel disease and their gastroenterologists searching for safe medications to help with pain relief," said Joshua R.

Korzenik, MD, author of an accompanying editorial from Massachusetts General Hospital in Boston.

"Patients with However, some researchers have argued that these painkillers have negative effects on IBD patients in remission.

According to a study in this month's issue of Clinical Gastroenterology and Hepatology, patients with IBD who use NSAIDs tolerate the drugs well and less than one in three patients experiences a flare-up in symptoms.

Furthermore, the study shows COX-2 inhibitors, previously thought ...

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