(MENAFN- ProactiveInvestors)CLOSER FTSE100 closed positively but just 15 points ahead as traders considered Greece and were buoyed by news on a nuclear breakthrough from Iran. The UK benchmark closed out around 16 points to the good at 6753 with Sky (LON:SKY) the biggest gainer - up 4.08% to 1122p. It came as heavy weight broker Deutsche lifted the price target on the stock to 1500p from 1000p previously. Iran and six major world powers have reached a nuclear deal on Tuesday curbing the country's programme. Alastair McCaig at IG index said: "We were never likely to see everyone welcoming the Iranians back with open arms but the progress made in the nuclear discussions in Vienna has been broadly seen as the pick-me-up that global markets were desperately needing." In Greece Alexis Tsipras is trying to get the harsh austerity measures he came back with from Brussels approved by Parliament to secure the next bailout package. "How much fight is left in the Greeks will be demonstrated by how easily these newer harsher terms are approved by its parliament" said McCaig. "As the queues grow at supermarkets struggling with supplies and more empty shelves appear in both hospitals and pharmacies it looks more likely that humanitarian aid will reach the streets long before the European Central Bank's ELA funds are allowed to flow back into the banks again." There has been talk that Tsipras may resign if he fails to garner enough support to push the package through although it is thought it would pass thanks to opposition backing. Back to Blighty and Bank of England chief Mark Carney weighed into the Greek debate by saying there were 'big execution risks' involved in the rescue deal. Upbeat UK retail sales figures failed to lift the mood. The spectre of deflation also raised its head with UK inflation slipping back to zero in June. Back in UK equities FirstGroup (LON:FGP) chugged 0.5% lower to 118.5p as it forecast lower rail earnings following the end of UK franchise contracts. Dairy Crest (LON:DCG) melted 0.8% to 561.5p as it said results from its cheese and spread businesses would be weighted towards the second half. Elsewhere support service group Carillion (LON:CLLN) advanced 0.71% to 354.2p after first-half revenue rose and it won an £80mln contract from BP (LON:BP.). Drugs giant AstraZeneca (LON:AZN) added 0.32% to 4354.2p after getting US regulatory approval for a lung cancer treatment. Elsewhere iodine manufacturer Iofina (LON:IOF) lifted 9.41% to 23.25p on news of a strong first-half performance and a record second quarter for crystalline iodine production. Summit Therapeutics (LON:SUMM) which is working on muscular dystrophy treatments was unchanged at 154p as it reported encouraging test data yesterday and held its AGM today. Regional newspaper publisher Johnston Press (LON:JPR) backtracked around 20% to 113.5p as it reported an advertising slowdown in the run-up to the UK general election. A notable riser was Cloudtag (LON:CTAG) which gained 20% to stand at 2.35p. US OPEN US markets were on the front foot in early trading though yesterday's heady enthusiasm following the Greek settlement was less in evidence. 'The concern that the deal may not pass Greek parliament and that its harsh terms will just bring Greece to the brink again at a later date is weighing on market sentiment' reckons Jasper Lawler at spread betting firm CMC Markets. Nevertheless indices were in the blue with the Dow Jones and the Nasdaq Composite both up 19 points; the former at 17998 and the latter at 5091. The benchmark S&P 500 index was four points firmer at 2104. Banks were in focus with JP Morgan rising after second quarter earnings per share of 154 cents came in 10 cents ahead of expectations and Wells Fargo a tad higher after its earnings came in with a par score. Ubiquitous coffee bar owner Starbucks was flat after announcing a deal to become even more ubiquitous this time in sub-Saharan Africa. Elsewhere in the food & drinks retail sector Yum Brands was wanted ahead of results expected later today. Healthcare firm Johnson & Johnson was given the elbow despite better than expected second quarter profits and raising its full-year outlook. Talk was swirling through dealing rooms about a widely-expected revised bid for US generic drug group Mylan from Israeli rival Teva. Traders have speculated that Teva would offer $88 per share as soon as this week. Teva reportedly offered $82 a share in April for Mylan which valued the latter at about $40.1bn. The latest offer would value Mylan at about $43bn. Mylan is registered in the Netherlands with operational headquarters in Hatfield Hertfordshire in the UK. Nasdaq-listed Mylan's shares were trading up $0.63 at $71.69 on Tuesday. The agreement with Iran over its nuclear programme that will see sanctions on its oil exports lifted was expected to hit global energy shares but integrated oil giants Exxon Mobil and ConocoPhilips clearly had not read the script; the sector has received a bit of a lift from OECD oil inventories which only rose by 200000 barrels a day more than normal in the second quarter which is normally the period of peak demand. 'The Iran nuclear deal will lead to more oil from Iran but not before 2016. OPEC will however manage total volume of oil into the global oil market as there is no reason to drive the oil price substantially below US$60/b' reckons Bjarne Schiedrop chief commodities analyst at Nordic bank SEB. Elsewhere in the oil sector Valero Energy was on the up after its board approved a US$2.5bn share buyback programme. Back on this side of the pond the FTSE 100 was barely changed at 3.40pm at 6735 with house builders Taylor Wimpey (LON:TW.) and Persimmon (LON:PSN) bottom of the tree and Meggitt (LON:MGGT) and Sky (LON:SKY) atop the greasy pole. MID-SESSION MARKET UPDATE London shares extended their losses on Tuesday as traders pondered the scale of the task ahead to get Greece back on track. The FTSE 100 Index was 13 points adrift at 6725 around lunchtime while the Dax dropped 35 points and the CAC-40 fell three points. Dealers watched nervously as Greek premier Alexis Tsipras headed back to Athens to try to persuade rebellious law-makers in his own party to back his reforms. There was talk that Tsipras may resign if he fails to garner enough support to push the package through parliament although it is thought it would pass thanks to opposition backing. Jasper Lawler at CMC Markets said: "Headlines of in-fighting or hard-line stances in Athens will be a downside risk throughout the day." Bank of England chief Mark Carney weighed into the Greek debate by saying there were 'big execution risks' involved in the rescue deal. Upbeat UK retail sales figures failed to lift the mood. The spectre of deflation also raised its head with UK inflation slipping back to zero in June. Connor Campbell at Spreadex said: "None of this helped the FTSE shake its current lifelessness something no doubt exacerbated by the drag of Brent Crude following the confirmation of an Iran nuclear deal." Traders were set to seek inspiration from the US with numbers from the likes of JP Morgan and Wells Fargo kicking off the second quarter earnings season. Back in UK equities FirstGroup (LON:FGP) chugged 1.8p lower to 117.3p as it forecast lower rail earnings following the end of UK franchise contracts. Dairy Crest (LON:DCG) melted 1.5p to 564.5p as it said results from its cheese and spread businesses would be weighted towards the second half. Support service group Carillion (LON:CLLN) advanced 3p to 354.7p after first-half revenue rose and it won an £80mln contract from BP. AstraZeneca (LON:AZN) was 20p healthier at 4351p after getting US regulatory approval for a lung cancer treatment. Elsewhere iodine manufacturer Iofina (LON:IOF) lifted 2.75p to 24p on news of a strong first-half performance and a record second quarter for crystalline iodine production. Summit Therapeutics (LON:SUMM) which is working on muscular dystrophy treatments climbed 2.5p to 156.5p as it reported encouraging test data yesterday and held its AGM today. Regional newspaper publisher Johnston Press (LON:JPR) backtracked 28p to 114p as it reported an advertising slowdown in the run-up to the UK general election. Regenersis tumbled 37p to 163.5p after the supplier of electronic repair diagnostic and data removal software firm reported a loss of business from a major customer. MOST FOLLOWED Greece UK inflation and Carillion (LON:CLLN) were among financial topics piquing interest in web-world. It's not just Eurozone big wigs who looked tired from those marathon talks that ended on Monday morning sealing a provisional rescue deal for Greece. The world's media and perhaps public is also stretched to the wire "cream crackered" and wondering if the saga will ever reach a conclusion. We may now however be only a taverna's length away from some kind of end. But PM Alexis Tsipras still has to persuade parliament to back the rescue package by tomorrow or Greece could still crash out. Who'd be in his shoes Markets seem uneasy and Footsie is seeing red at the time of writing after being tipped to start a tad higher. Carillion shares nudged higher as the construction and support services group shrugged off uncertainty from the UK general election to report a strong rise in first half revenue. Carillion said the figure in the first six months of the year had increased significantly putting it on track to hit annual profit and earnings targets. Steady improvements in market conditions in 2014 continued in 2015 and its order book stood at about £17bn at the half-year while potential deals totalled more than £40bn. Elsewhere the rate of UK CPI inflation fell to 0% last month according to figures from the ONS which is good news for Britain's spenders. The fall in in clothing and food prices were the main contributors. Gatwick airport flew onto the news radard today after it attacked the findings of a report that recommended Heathrow for London's new runway. The Prime Minister has said he will make a decision on where the controversial location should be by the end of the year. The big news of the day however concerned Iran which stuck a historic accord with six major powers to curb its nuclear programme. LONDON OPEN The London market opened slightly lower as reality set in after the euphoria surrounding a deal between Greece and its creditors. The FTSE 100 Index dipped 2.59 points to 6735.36 after an hour of trading while the Dax dropped 29 points and the CAC-40 lifted four points. Traders largely sat on the sidelines ahead of an EU finance ministers' meeting to discuss next steps after the rescue deal for Greece. Uncertainty remained in markets as Tsipras headed back to Athens to try to persuade rebellious law-makers in his own party to back his reforms. Jasper Lawler at CMC Markets said: "Tsipras faces possible mutiny within his own coalition government over the harsh terms of the country's bailout. "Headlines of in-fighting or hard-line stances in Athens will be a downside risk throughout the day." Upbeat UK retail sales figures failed to lift the mood ahead of June inflation data later in the morning. The British Retail Consortium and KPMG said good weather helped retailers rack up the strongest sales growth in 18 months in June. Inflation readings were likely to remain subdued with overall inflation unlikely to change while core inflation was expected to stay at 0.9% on the year. On the corporate front FirstGroup (LON:FGP) chugged 0.4p lower to 118.7p as rail earnings were set to fall following the end of UK franchise contracts. Dairy Crest (LON:DCG) melted 4.5p to 561.5p as it said the combined performance of its cheese and spread businesses would be weighted towards the second half. Support service group Carillion (LON:CLLN) advanced 8.2p to 359.9p after first-half revenue rose and it won an £80mln contract from BP. MARKET PREVIEW The FTSE100 is called to open a tad higher on Tuesday after yesterday's momentous third provisional bailout deal for debt-ridden Greece was struck. The UK benchmark is tipped to open around two points higher having closed at 6738 up 65 points on Monday. Footsie rallied along with other global indices as investors hailed the agreement which aims to keep the country in the Eurozone followed lengthy talks finishing up on Monday morning. But the story is very far from over. A bleary-eyed PM Alexis Tsipras must now get the agreement signed off by the Greek parliament which may not be that straightforward not least since the concessions made to Euro creditors appear to be worse than those previously rejected according to commentators. There will then no doubt be a host of markers as the rescue package is potentially delivered.. Asian stocks were also buoyed by the news in the main. Japan's Nikkei 225 soared 330 points to 20420; however China's Shanghai Composite Index eased around 12 points. On Wall Street the Dow Jones closed 218 points ahead at 17978 while the German Dax gained a whopping 168 points. On the corporate front Carillion (LON:CLLN) will announce second quarter sales and revenue in a trading statement. After last week's profit warning from sector peer Balfour Beatty (LON:BBY) investors will be thanking their lucky stars that the £2bn bid Carillion made for the company was beaten away last year.
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