RECKITT BENCKISER edged higher on the view that shares in the Anglo-Dutch household goods group should trade at a premium to their sector. Ahead of first-quarter figures from the £15 billion company later this month, ING has taken a look at earnings forecasts for the current year. The Dutch broker is confident that the Cilit Bang maker will be able to achieve its target of 22 per cent earnings margin target in 2008, and cites any weakness in first-quarter revenue numbers should be used as a buying opportunity.

The broker expects Reckitt to participate in consolidation in the over-the-counter market after last year’s purchase of Boots Healthcare. With ING setting a £23.50 target, the shares added 6p at £20.30.

A strengthening of the dollar on the revelation of a narrowing of the US trade deficit in February exacerbated profit taking in miners, which, now accounting for more than 7 per cent of the FTSE 100, proved a drag on the benchmark index. The selling was led by Antofagasta, off 60p at £23.04, and tracked by Xstrata, 49p lighter at £19.56, Kazakhmys, 28p behind at £11.77 and BHP Billiton, 21½p cheaper at £11.34. After breaking into positive territory shortly after Wall Street’s opening, the FTSE 100 came to rest 15.7 points in deficit at 6,000.8.

The session’s speculative activity was focused on Vodafone Group, which touched 128¾p at its best on reports that Verizon Communications of the US is to start new proceedings to take control of Verizon Wireless, where the British mobile telecoms operator holds a 45 per cent stake. According to the reports, Verizon is set to offer Vodafone $50 billion for its holding.

However, with analysts reminding clients that Arun Sarin, Vodafone’s chief executive, only last month affirming that the disposal of Verizon Wireless was not on the cards in the near future, the shares closed a modest ¾p better at 124¼p.

AstraZeneca perked up 15p to £29.25 as Deutsche Bank raised its price target from £32 to £33. The German broker has increased its earnings forecasts, citing a recent pick-up in sales at Nexium, its ulcer treatment — where volume growth was up 17.6 per cent in the first quarter, against 13 per cent last year — and Crestor, its cholesterol-lowering drug. Further, Deutsche says the Anglo-Swedish group will benefit from the delay in the expected launch of a generic version of Toprol XR, its blood pressure treatment, which is now expected on May 1, against March 1 previously.

British Energy advanced 12p to 693p as European carbon dioxide emission quota prices touched new highs. The nuclear power generator’s lower exposure to rising emission costs than its fossil fuel-based rivals means it is seen as a geared play on EU quota prices, which typically translate into higher electricity bills.

3i Group slipped 8½p to 900p, despite the sale of its interest in Refresco, the Dutch private-label soft drink manufacturer, for $461 million. The buying consortium was led by Iceland’s FL Group, which last week booked a €140 million profit on the disposal of its 16.9 per cent stake in easyJet.

• NEW YORK: Shares were boosted by optimism over first-quarter profits and a large aircraft order from China won by Boeing. The Dow Jones industrial average finished 40.40 points up at 11,130.00.

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