Ceres Power shares drop on uncertain future There was still no decisive news on whether Spain would seek a bailout and tensions in the Middle East added to the cautious atmosphere. The FTSE 100 added just 1.97 points to 5,827.78 but the FTSE 250 gained 81.69 to 11,954.42. "You would have thought that with two central bank decisions today the markets might have moved in a slightly wider range than the few points that they have, but since neither the ECB nor BOE took any action to surprise us we have suffered from yet another very slow-paced session," said Angus Campbell, head of market analysis at Capital Spreads. The FTSE is stuck between a rock and a hard place at the moment, with support coming from the stronger-than-expected US economic data but gains being capped by the uncertainty being thrown up by the eurozone crisis. Tate & Lyle, which makes the sweetener Splenda, was one of the strongest blue-chip risers on optimism that its move away from sugar in recent years had improved the company. The shares advanced 12½ to 687p. "There is no easy way to value Tate & Lyle, but it does seem to us to be a better business for all the changes we have seen and that this is not reflected in the share price," broker Credit Suisse said, boosting its recommendation on the company to "outperform" from "neutral." Pennon Group also ticked up 5½ to 732½p after Bank of America Merrill Lynch moved its recommendation on the company to "neutral" from "underperform." At the other end of the blue-chip index, traders continued to put pressure on Tesco following its half-year results on Wednesday, which confirmed profits at the supermarket group fell for the first time since 1994. The shares shed 9.8 to 318.15p, the biggest faller on the index, after losing 8¾p on Wednesday. In general, however, it was a good day for shares in retailers. On the FTSE 250, car parts and bike retailer Halfords stood out, racing up 37½ to 303½p after unveiling a 5.6pc increase in total second-quarter like-for-like sales, bolstered by British cycling successes in the Olympics and Bradley Wiggins" Tour de France victory. An analyst visit to the Shirebrook headquarters of Mike Ashley's Sports Direct paid off. The shares added 22.8 to 382.8p, a record high, on an enthusiastic "buy" note from Seymour Pierce analyst Freddie George following his day out. "It has a 'state of the art" logistics infrastructure and systems all managed centrally at Shirebrook," he said, lifting his recommendation from "hold." We came back reassured that in particular the internet strategy is taking shape, is picking up momentum and is a major focus of management. We are also coming to believe that the company could be a major force in the sporting goods category on the internet not only in the UK but also overseas. The company picked up 20 stores from former rival JJB Sports, which fell into administration earlier this week. Fashion retailer Ted Baker improved 7½ to 921p after posting a 15.4pc increase in revenues in the 28 weeks to August 11. Next was the biggest riser on the FTSE 100 with a gain of 93p to £35.92. Elsewhere on the FTSE 250, developments at pub group Mitchells & Butlers also piqued some dealers" interest after it was revealed John Magnier and JP McManus, the Irish horseracing tycoons, had upped their stake in the company to 22.47pc. The shares, which were purchased by their investment vehicle Elpida, were rumoured to have been bought at £3 a piece. Joe Lewis, who made two unsuccessful takeover approaches to M&B last year, also holds about 26pc of the company. The shares fizzed 8.6 higher to 301p. Meanwhile, FirstGroup, which plummeted 50.6p on Wednesday following the cancellation of the West Coast line contract, steadied and put on 7.2 to 200.6p. Bwin.party, the subject of bid speculation earlier this week, advanced 6.8 to 116.1p, although dealers said they had not heard the chatter today. News of a convertible bond sale at Gulf Keystone Petroleum weighed on the shares, which shed 19 to 211p. Finally, Renold, which produces industrial chains, dropped 5¾ to 20¾p after sounding a profit warning.