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Market Movers, including Shell, BSkyB, Diageo, AstraZeneca, Mariana Resources, Agriterra, ENEGI Oil

Last updated: 02:55 31 Jan 2013 EST, First published: 03:55 31 Jan 2013 EST

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On a big day for the UK heavyweights, it was Shell (LON:RDSB) that stole the headlines.

The Anglo-Dutch oil giant’s profits fell short of the City’s best guesses in the fourth quarter.

Profits were US$5.6bn in the last quarter of its financial year, up from US$4.8bn a year ago. Analysts, though, had been pointing to a figure around US$6.2bn.

The company also set an ambitious target for its interim dividend this quarter, pledging to boost it by 4.7% from last year.

Shares lost 1.4% early on.

Satellite broadcaster BSkyB (LON:BSY) fared much better, opening 2.4% higher on Thursday.

In its half-year review, the pay-TV group hailed a sterling performance from Sky Sports, which saw record audiences tune in to catch the Europe win the Ryder Cup and Scotland's Andy Murray triumph at the US Open.

Its catch-up TV service On Demand helped boost viewing figures, with downloads up 150% in the second quarter and 46% more people using Sky Go.

Shares in Diageo (LON:DGE) sank 1% after sales of its alcoholic drinks missed analyst estimates as European drinkers reined in their spending.

The Smirnoff-to-Johnnie Walker maker reported steady sales growth in the second half of 2012, with like-for-likes up 5%.

The City’s greybeards, however, reckoned it would grow sales by 5.6%.

AstraZeneca (LON:AZN) was in need of a shot in the arm after the drug maker’s CEO warned investors it faces a tough year ahead.

Full-year revenues fell to US$28bn, down 15%, as patent expiries continue to blight the business.

Shares dropped 4% when the company warned that earnings this year will “decline significantly more than revenue”.

A number of small caps made good starts to Thursday’s trading. Mariana Resources (LON:MARL) climbed in early play after it was granted a 90-day extension to assess the full potential of the Condor de Oro porphyry gold-silver-copper project in Peru.

The extra time allows it to take a closer look at the Yuracyacu area.

The round of due diligence is a precursor to an earn-in deal with Canada’s Condor Resources (CVE:CN) that could see Mariana eventually take up to 51% of the project.

The news was part of a comprehensive update of Mariana’s progress to date, which revealed it has started a strategic review of its projects in the Santa Cruz gold region of Argentina.

The group said the “outcomes” of the review are likely to include joint-ventures “and/or asset sales”.

Shares are up 6%.

Agriterra (LON:AGTA) moved 3% higher just after London’s markets opened. The African agricultural company got its hands on US$28mln from Marathon Oil after handing over its 20% stake in the South Omo Block in Ethiopia to the US oil giant.

Another US$12mln will be on the way when the Ethiopian government gives it the green light, while a further US$10mln will change hands on a commercial oil discovery.

Agriterra will use the cash to fund a strategy of becoming a leading sub-Saharan food provider.

Enegi Oil (LON:ENEG) lifted 7% this morning on the news it has struck a deal with Azimuth Ltd to farm-out a 50% stake in a portion of the recently acquired Block 3/23 in the UK North Sea.

Azimuth will pay the costs and carry out a work programme, including geological, geophysical and reservoir analysis utilising existing seismic and well data – to earn its stake in the ‘exploration area’ within Block 2/23.

Enegi and its ABT subsidiary, which is developing unmanned production technologies that could transform marginal oil projects, gained the acreage through Britain’s most recent licensing round towards the end of last year.

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