A round-up of today's other stories in brief.

Lundin Mining shows €45.8m profit

Lundin Mining, the owner of the Galmoy lead and zinc mine, had profits of $58.6 million (€45.8 million) in the first six months of the year, the company said yesterday, writes Barry O'Halloran.

The Canadian-based exploration group said sales were $204.6 million for the six-month period, compared with $80 million during the first half of 2005.

Net income for the period was $58.6 million, almost 10 times the $6.1 million it recorded for the first six months of last year.

Basic earnings per share were $1.44, compared with 17 cent in 2005.

Operating activities generated $77.1 million in cash, compared with $24.3 million last year.

Sales in the three months to the end of June rose to $112.9 million from $43.5 million during the same period. Net income rose to $37.2 million from $3.2 million. Earnings per share were 91 cent this year as against 8 cent in 2005.

During the first half, Lundin said it had discovered significant extensions to the ore body at Galmoy which it acquired through the takeover of Arcon last year. The southwest zone is already being mined and is producing high grade zinc and lead.

It also found lead-zinc-silver ore in two other areas to the south and southeast. The group also has interests in Spain and Russia.

Cider to boost C&C earnings

Goodbody Stockbrokers yesterday upgraded its earnings forecasts for drinks and snacks maker C&C by 23 per cent for the current financial year, citing the strong take-up of the group's Magners cider in Scotland.

As a result Goodbody, which said it now expected the Scottish performance to be replicated throughout the UK, is forecasting EPS of 42.1 cent for the current financial year, up from 34.3 cent. It also increased its share price target to €11 from €8. Yesterday the shares closed at €8.63.

However, the broker also warned that the positive fundamentals behind C&C's business could also make it a takeover target for one of the larger international brewers.

Oil slumps after aircraft terror plot

Oil fell $2 to below $75 a barrel yesterday after Britain said it had thwarted a plot to blow up aircraft in trans-Atlantic flight and investors recalled the slump in fuel demand that followed 9/11.

Oil consumption would again be hard hit if travellers turn away from flights and consumer confidence takes a knock. Jet fuel prices in particular moved down sharply in the weeks after September 11, 2001, and after the SARS outbreak in 2003.

At 1740 GMT US oil was down $1.85 at $74.50, off a low of $74.20. London Brent crude was down $1.56 at $75.72.

The news reined in oil prices that had risen to record highs this week on BP Plc's decision to throttle back output from its Prudhoe Bay oilfield in Alaska, the biggest in North America, because of pipeline corrosion. - (Reuters service)

Network sites a hit with young

More than half of the UK's 16- to 24-year-olds are using social networking sites such as MySpace and Bebo at least once a week, as the "networked generation" turns its back on TV, radio and newspapers in favour of online communities.

More than 70 per cent of 16- to 24-year-olds polled by Ofcomtold the UK communications regulator they visited such sites, and 54 per cent used them at least weekly. Only about 12 per cent of internet users aged 35 or over used such sites weekly.

The findings underscore a rapid divergence between young consumers' media habits and those of older generations, which has worrying implications for traditional media companies. -(Financial Times service)