StockMarketWire | 26/09/2016 - 17:20
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The FTSE 100 failed to gain positive momentum on a quiet corporate day amid struggling housebuilding stocks.

The blue-chip index closed 1.3% lower at 6,818.

Housebuilders Taylor Wimpey (TW.) and Barratt (BDEV) slumped by up to 4.1%, while UK supermarkets weakened on news that German discounter Aldi achieved record sales and announced a £300 million investment in its stores.

Tesco (TSCO), Sainsbury's (SBRY) and Morrisons (MRW) were pushed into the red.

West Texas Intermediate (WTI) crude oil advanced 3.5% to $46 and Brent crude oil gained 3.3% to $47.42 per barrel, respectively.

Gold glittered at $1,340 per ounce and copper fell 0.3% to $4,806 per tonne.

BLUE CHIP RISERS AND FALLERS

WPP (WPP) fell 2.5% lower after broker Jeffries International downgraded its rating from hold to buy and cut its price target.

Pharmaceutical firm Shire (SHP) retreated 1.7% following HSBC's downgrade from hold to buy and cut in price target.

MID CAP RISERS AND FALLERS

Scandal-hit Sports Direct (SPD) declined 6% despite an initial positive reaction to Mike Ashley taking over as CEO following Dave Forsey's resignation on Friday.

Broker Peel Hunt's downgrade from add to hold for events company UBM (UBM) accompanied a 2.8% slump in the share price.

SMALL CAP RISERS AND FALLERS

Creative media agency MediaZest (MDZ) was hot off the presses after announcing £250,000 of new business wins since 12 August. Its share price climbed 18.2% to 0.16p.

The market dug Thor Mining (THR) on its confident outlook concerning securing enough money for the Molyhil tungsten project, triggering a share price rise of 20%.

Drug development company Summit Therapeutics (SUMM) received fast track designation from the US Food and Drug Administration for ezutromid in the treatment of Duchenne muscular dystrophy.

Malaysian data centre operator CSF (CSFG) plummeted 51.1% to 0.43p on news it intends to seek shareholder approval to delist from the AIM market.

Oil rig refurbishment specialist Lamprell (LAM) was one of the biggest risers on the London Stock Exchange, rising 11.9% to 71.63p after winning a $90 million contract from new client Master Marine. Lamprell will upgrade its mobile operating unit as an accommodation service vessel for Statoil's Johan Sverdrup field offshore Norway.

Investors were impressed by housebuilder MJ Gleeson's (GLE) 20.5% growth in annual pre-tax profit to £28.2 million and hiked dividend of 45% to 14.5p. The company said trading was 'business as usual' since the EU referendum.

North River Resources (NRRP) fell 18.5% after reporting mixed results at its Namib project, which requires a critical period of assessment to determine how to proceed.

Green gas company Good Energy (GOOD) rose 9.1% to 261.5p following a positive article in The Mail On Sunday.

Brand experience specialist SpaceandPeople (SAL) crashed 34.2% to 26p after swinging from a profit of £62,000 to a £174,000 loss in the first half of the year due to 'subdued trading'. The firm also suspended dividends temporarily.

Respiratory disease-focused drug developer Verona Pharma (VRP) got a shot in the arm following upbeat management expectations for smokers cough treatment RPL554. It also revealed Piers Morgan as chief financial officer, who used to be chief executive of C4X Discovery (C4XD).


By StockMarketWire | 26/09/2016 - 11:51

The blue-chip index followed Asian markets lower, despite a recovery in oil prices.

The FTSE 100 fell over 1% to 6,834.

UK supermarkets weakened on news that German discounter Aldi achieved record sales and announced a £300 million investment in its stores.

Tesco (TSCO), Sainsbury's (SBRY) and Morrisons (MRW) were pushed into the red.

Commodity stocks pulled the blue chip index lower with Polymetal (POLY) slipping 2.2% and Anglo American (AAL) declining 2.5%.

Housebuilders Taylor Wimpey (TW.) and Barratt (BDEV) slumped by 3.4%.

West Texas Intermediate (WTI) crude oil rose 1.3% to $45 and Brent crude oil rallied 1.7% to $46.69 per barrel, respectively.

Gold nudged lower to $1,336 per ounce and copper cheapened 0.6% to $4,806 per tonne.

Gross mortgage borrowing of £12.4 billion was 1% higher than August, according to the BBA.

BLUE CHIP RISERS AND FALLERS

WPP (WPP) nudged 1.7% lower after broker Jeffries International downgraded its rating from hold to buy and cut its price target.

Pharmaceutical firm Shire (SHP) retreated 1.8% following HSBC's downgrade from hold to buy and cut in price target.

MID CAP RISERS AND FALLERS

Scandal-hit Sports Direct (SPD) declined 5.3% despite an initial positive reaction to Mike Ashley taking over as CEO following Dave Forsey's resignation on Friday.

Broker Peel Hunt's downgrade from add to hold for events company UBM (UBM) accompanied a 2.4% slump in the share price.

SMALL CAP RISERS AND FALLERS

Malaysian data centre operator CSF (CSFG) plummeted 39.6% to 0.53p on news it intends to seek shareholder approval to delist from the AIM market.

Rig refurbishment specialist Lamprell (LAM) was one of the biggest risers on the London Stock Exchange, rising 10.5% to 70.75p after winning a $90 million contract from new client Master Marine. Lamprell will upgrade its mobile operating unit as an accommodation service vessel for Statoil's Johan Sverdrup field offshore Norway.

Investors were impressed by housebuilder MJ Gleeson's (GLE) 20.5% growth in annual pre-tax profit to £28.2 million and hiked dividend of 45% to 14.5p. The company said trading was 'business as usual' since the EU referendum.

Russian E&P business Zoltav Resources (ZOL) nudged 2% lower to 24p despite delivering a maiden pre-tax profit in the half-year to June, which reflected 'efforts on driving performance at Bortovoy's Western Gas Plant and on cost efficiencies'.

North River Resources (NRRP) fell 14.8% after reporting mixed results at its Namib project, which requires a critical period of assessment to determine how to proceed.

Green gas company Good Energy (GOOD) surged 11% to 266p following a positive article in The Mail On Sunday.

Brand experience specialist SpaceandPeople (SAL) crashed 30.4% to 27.5p after swinging from a profit of £62,000 to a £174,000 loss in the first half of the year due to 'subdued trading'. The firm also suspended dividends temporarily.

Respiratory disease-focused drug developer Verona Pharma (VRP) got a shot in the arm following upbeat management expectations for smokers cough treatment RPL554. It also revealed Piers Morgan as chief financial officer, who used to be chief executive of C4X Discovery (C4XD).


By StockMarketWire | 26/09/2016 - 08:56

London stocks began firmly on the back foot Monday, taking cue from Asia this morning and Wall St overnight Friday as Brexit jitters again grabbed traders' attentions.

All sectors were lower; 97 blue-chip stocks had lost traction, more than half of these by greater than 1%.

FTSE 100 was down 67.55 points, or 0.98%, to 6841.88 and FTSE 250 shed 220.49, or 1.23%, to 17,702.6.

Intercontinental Hotels (IHG) dived 4.02% to 3153p to lead the top-100 pack lower.

It was followed by house builders Taylor Wimpey (TW.), off 3.31% to 150.35p, Barratt (BDEV), lower 2.77% to 483.45p, and Persimmon (PSN), down 2.69% to 1788.5p.

Insurers were down after Prudential (PRU), off 2.5% to 1372.75p, and banks traced Lloyds (LLOY), reversing 2.66% to 54.49p. Resources figured southbound, as did pharmas.

Commercial property tapered, as did supermarkets, investment specialists, leisure stocks, utilities and consumer goods.

At 8.42am, WTI crude was up 0.27% to $44.6/bbl and Brent was up 0.15% to $45.96/bbl. Gold was down 0.13% to $1339.9/oz.

The market continues to be engulfed by Brexit concerns, these focused on when and if it happens, the legality of triggering Article 50, and the economic and commercial fallout.

BIGGER MOVERS

SpaceandPeople (SAL), down 29.11% to 28p, has swung to an H1 pretax loss of £174,000, from a year-earlier profit of £62,000. Revenue was lower at £4.6m, from £4.8m.

Zoltav Resources (ZOL), up 28.57% to 31.5p, booked a maiden H1 pretax profit of $1.6m, from a year-ago loss of $2.5m. This was achieved from an excellent operational performance and cost-optimisation.

CSF Group (CSFG), ahead 14.94% to 1p, intends to seek shareholders' approval to cancel the admission of its ordinary shares of 10p each to trading on AIM. North River Resources (NRRP), lower 11.11% to 12p, posted an H1 pretax loss of £1.30m, from a loss of £1.38m a year earlier.

LONDON HIGHLIGHTS

Greatland Gold (GGP), up 8.11% to 0.2p, has agreed to acquire the Havieron gold project in Australia for an initial A$25,000 in cash and 65.5m shares worth about A$225,000, plus a second payment, triggered upon a decision to mine, of 145.5m shares, worth about A$500,000.

Active Energy Group (AEG), up 7.27% to 2.95p, has posted an H1 gross profit up 50% to $1.840m, from $1.227m a year ago, as a result of improved purchasing conditions and stable prices.

Savannah Resources (SAV), down 6.96% to 3.68p, has raised about £1.42m gross via the placing of 28.2m new shares and subscription for 12.5m new shares at a placing price of 3.5p each.

Egdon Resources (EDR), up 5.36% to 14.75p, says a competent person's report has independently confirmed the commercial viability of the Wressle field development.

Concepta (CPT), up 5.13% to 20.5p, has signed a manufacturing agreement with Shijiazhuang Huanzhong Biotech Ltd to assemble and package Concepta's 'My Lotus' fertility product.

Lamprell (LAM), up 4.89% to 67.13p, has received a new contract award from Jacktel AS, a subsidiary of Master Marine AS, for the upgrade of the mobile operating unit 'Haven' as an accommodation service vessel for the Statoil 'Johan Sverdrup' field, offshore Norway.

Metal Tiger (MTR), down 4.55% to 3.15p, has reported a total (Indicated & Inferred) Mineral Resource Estimate of 28.36Mt @ 1.24% Cu & 15.7g/t Ag for the T3 Prospect.

Allergy Therapeutics (AGY), down 4.08% to 17.63p, has reported a significant progress made towards becoming a global provider of allergy solutions in the year to the end of June.

Tullett Prebon (TLPR), down 1.08% to 356.1p, said that Ken Pigaga, Global Chief Operating Officer of ICAP plc, has decided not to take up the position of Director and Chief Operating Officer of TP ICAP. An announcement on that role would be made in due course.

Other stocks in the news included Gemfields (GEM), MJ Gleeson (GLE), City of London Group (CIN), RM2 Int'l (RM2), Redcentric (RCN), Avnet (AVT), Adamas Finance Asia (ADAM), Victoria Oil & Gas (VOG), W Resources (WRES), Condor Gold (CNR), Water Intelligence (WATR), Regal Petroleum (RPT) and Lifeline Scientific (LSIC).


By StockMarketWire | 26/09/2016 - 06:02

London stocks are seen beginning cautiously, following lower sessions on Wall St on Friday and in Asia this morning as the Brexit spectre looms once more.

There is little in the way of economic news expected today, although traders will be looking to UK's BBA mortgage approvals data out mid morning.

US & ASIA

On Wall St overnight on Friday, the Dow Jones Industrial Average lost 0.71% to 18,261.45, while the S&P 500 shed 0.57% to 2164.69 and the Nasdaq Composite eased 0.63% to 5305.75.

In Asia this morning, the Nikkei 225 had fallen 94% to 16,595.72, while the Hang Seng reversed 0.67% to 23,526.7.

At 5.57am, WTI crude was up 0.61% at $44.75/bbl and Brent was up 0.7% to $46.21/bbl. Gold was down 0.35% to $1337/oz.

LONDON MARKETS

Interim results are due from Ergomed, Highland Gold Mining and Mayair Group.

Final results are expected from Allergy Therapeutics and Gemfields.

A shareholder meeting is scheduled for Acorn Income Fund.