StockMarketWire | 28/05/2015 - 14:21
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FTSE indices rallied off earlier lows to be mixed at noon -- blue chips up and mid caps down -- with rising retailers, pharma and financials lending a hand. Sports Direct Int'l (SPD) and Kingfisher (KGF) were so far the northbound retail risers of note.

To noon, FTSE 100 was up 11.47 points, or 0.16%, to 7044.8. FTSE 250 fell 9.84, or 0.05%, to 18,227.6. Both were off earlier nadirs. At 11.42am, crude oil was up less than 0.5%. European bourses were lower. Overall sentiment is affected Greece debt and Yemen fighting.

Sports Direct (SPD) was up 4.33% to 687p as it issued a chipper trading statement. Kingfisher (KGF) rose 3.33% to 379p as like-for-like sales rose 0.8% in Q1, but forex dented retail profits. Also up among retailers were Dixons Carphone (DC.), rising 2.04% to 473.75p, with some supermarkets tailing Sainsbury (SBRY), up 0.88% to 257.95p.

Pharma outfits enjoyed a boost behind Smith & Nephew's (SN.) surge of 0.99% to 1176p. House builders followed Persimmon (PSN), up 0.87% to 1975p, while broader financial-sector stocks traced Experian's (EXPN) gain of 1.17% to 1253.5p, with several banking, some energy and consumer goods issues following.

Despite a tepid gains in base metals prices multiple miners slipped as Chinese stocks plunged in a banking-sector sell-off there. Anglo American (AAL) lost 0.96% to 1030.5p to lead metals burrowers down. Commercial property companies tended lower, as did a gaggle of insurers. Blue-chip risers and fallers were roughly evenly split.

BIGGER MOVERS

Marimedia (MARI) collapsed 37.87% to 73p as it said an industry shift towards mobile phones has caused directors to transition the business fully to mobile. This means putting resources into building Taptica's capabilities, which they see as the foundation for generating value. It will no longer invest in its now non-core legacy display business.

Connemara Mining (CON) soared 31.08% to 2.13p on positive prospecting news. Prospecting at the five-licence block of ground in the Inishowen area of Donegal has located quartz-vein boulders up to 45cm in diameter containing encouraging grade gold. Gold grades obtained included 15.35g/t, 15.7g/t, 6.99g/t, 4.52g/t, and 5.42g/t.

LXB Retail Properties (LXB) dived 32.09% to 91p as shareholders decided against liquidising the company at yesterday's AGM. Meantime, Sareum (SAR) crashed 22.22% to 0.28p as it raised £1.4m in a deeply discounted placing. Belgravium Technologies (BVM), down 11.11% to 5p, said FY results were expected to be heavily H2 weighted.

ECONOMIC NEWS

UK mortgage approvals hit a nine-month high in April, industry data showed. British Banker's Association said the number of new mortgages approved rose to 42,100 in April, from March's 39,200. The market had expected a print of 39,200 in April.

LONDON HIGHLIGHTS

Camco Clean Energy (CCE) rose 12% to 5.88p after closing a structured deal with a major multinational corporation to assign its rights to the future stream of certain California Carbon Offsets generated between 2015 and 2020 from the majority of agricultural methane projects that it manages on behalf of its dairy partners.

DQ Entertainment (DQE), down 9.33% to 8.5p, has posted FY adjusted pretax profits of INR195m, up from INR191m last time. Vitesse Media (VIS), up 4.76% to 2.75p, has traded well during the year to January 31, with revenues up 7% to £2.26m. The Operating loss is expected to be substantially reduced to close to breakeven.

Premier Oil (PMO), up 3.08% to 160.6p, and Rockhopper Exploration (RKH), up 8.03% to 65.63p, confirmed an oil discovery at the Isobel Deep exploration well 14/20-1 in the North Falkland Basin, about 30km south of the Sea Lion field. Elsewhere, Gable (GAH), down 10.42% to 32.25p on profit taking, reported record premiums for 2014 at £80m, a 35.8% rise in 12 months.

Stellar Diamonds (STEL), up 8.11% to 1p, confirmed sales of $505,000 from the auction of diamonds from its 75%-owned, Baoule kimberlite pipe in Guinea. This brings 2015 sales to date to more than $922,000, of which $700,644 are derived from the trial mine evaluation of Baoule.

Motif Bio (MTFB) added 5.3% to 34.75p on US regulator the FDA clearing its iclaprim treatment to enter phase III trials; the last step before a decision on its reaching the market is made. Nakama (NAK), up 5.88% to 4.5p, said its FY results will be in line with management views.

Other stocks in the news included Toumaz (TMZ), Porta Comms (PTCM), Tate & Lyle (TATE), Stride Gaming (STR), Helical Bar (HLCL), Ferrexpo (FXPO), Infinis Energy (INFI), European Wealth Group (EWG), Smart Metering Systems (SMS), Collagen Solutions (COS) and Tengri Resources (TEN).


By StockMarketWire | 28/05/2015 - 08:59

FTSE indices fell in early on despite gains by retail-sector outfits Sports Direct Int'l (SPD) and Kingfisher (KGF) against a backcloth of easing mining and financial stocks. Greece's brinkmanship-laden debt saga continues, as does vicious fighting in Yemen.

Shortly after the open, FTSE 100 was down 25.06 points, or 0.36%, to 7008.27. FTSE 250 fell 47.93, or 0.26%, to 18,189.5. At 8.45am, crude oil was up 0.5% or less. European bourses were lower, while Wall St rose overnight and Asian markets were mixed. US-China tensions continue.

Despite a tepid gains in base metals prices multiple miners eased. Anglo American (AAL) shed 2.35% to 1016p, while BHP Billiton (BLT) fell 1.41% to 1359.5p, and Glencore (GLEN) lost 1.38% to 282.8p. Financials followed with HSBC (HSBA) down 1.14% to 618.15p and leading banks. RSA Insurance (RDA) shed 0.96% to 432p to pilot insurers.

Supermarkets were broadly lower behind Marks & Spencer's (MKS) fall of 1.89% to 585.25p. On the upside, Sports Direct (SPD) added 3.19% to 679.5p as it issued a pleasing trading statement. Kingfisher (KGF) rose 3.12% to 378.25p as like-for-like sales rose 0.8% in Q1, but forex dented retail profits.

Blue-chip risers and fallers were roughly evenly split. Commercial property and house builders figured among the gainers, too. Elsewhere, well-known Tate & Lyle (TATE) fell 3% to 581.5p on booking a FY pretax profit of £51m, from £277m. Sales totalled £2.36bn, from £2.75bn.

BIGGER MOVERS

Marimedia (MARI), down 40% to 70.5p, said an industry shift towards mobile phones has caused directors to transition the business fully to mobile, and focus its resources on building Taptica's capabilities, which they see as the foundation for generating value. It will no longer invest in its now non-core legacy display business.

Connemara Mining (CON), up 23.08% to 2p, said prospecting at the five-licence block of ground in the Inishowen area of Donegal has located quartz-vein boulders up to 45cm in diameter containing encouraging grade gold. Gold grades obtained include 15.35g/t, 15.7g/t, 6.99g/t, 4.52g/t, and 5.42g/t.

Camco Clean Energy (CCE), up 12% to 5.88p, has concluded a structured transaction with a major multinational corporation to assign its rights to the future stream of certain California Carbon Offsets generated between 2015 and 2020 from the majority of agricultural methane projects that it manages on behalf of its dairy partners.

Stellar Diamonds (STEL), up 13.51% to 1.05p, confirms sales of $505,000 from the auction of diamonds from its 75%-owned, Baoule kimberlite pipe in Guinea. This brings 2015 sales to date to more than $922,000, of which $700,644 are derived from the trial mine evaluation of Baoule.

LONDON HIGHLIGHTS

Toumaz (TMZ), up 11.11% to 3.75p, said year to date the group trading is in line with the board's expectations. For the first six months of 2015, revenues, predominantly from Digital Audio, are expected to be up 30% year on year.

Sareum Holdings (SAR), down 22.22% to 0.28p, has raised £1,443,500, before expenses, by way of a placing of 577.4m new shares at 0.25p each. Belgravium Technologies (BVM), down 13.24% to 4.88p, said FY results were expected to be heavily H2 weighted.

Vitesse Media (VIS), up 9.71% to 2.88p, has traded well during the year to January 31, with revenues up 7% to £2.26m. The Operating loss is expected to be substantially reduced to close to breakeven. DQ Entertainment (DQE), down 6.67% to 8.75p, has posted FY adjusted pretax profits of INR195m, up from INR191m last time.

Nakama (NAK), up 5.88% to 4.5p, said its FY results will be in line with management expectations, with profitable trading in H2 and with group headcount further expanding across the international network.

Premier Oil (PMO), up 1.28% to 157.8p, and Rockhopper Exploration (RKH), up 3.92% to 63.13p, confirmed an oil discovery at the Isobel Deep exploration well 14/20-1 in the North Falkland Basin, about30km south of the Sea Lion field.

Other stocks in the news included Helical Bar (HLCL), Ferrexpo (FXPO), Infinis Energy (INFI), European Wealth Group (EWG), Smart Metering Systems (SMS), Collagen Solutions (COS) and Tengri Resources (TEN).


By StockMarketWire | 28/05/2015 - 06:19

The headline index is tipped to open largely unchanged this morning, according to financial websites, following yesterday's runaway session and with Greece's finances and G7 talks in focus today.

Wall St made solid gains overnight, while Asian bourses were mixed in early trading.

US & ASIA

In the US last night, the Dow gained 121 points at 18,163, the Nasdaq added 74 points at 5,107 and the S&P 500 climbed 19 points to 2,123.

In Asia today, the Nikkei was recently up 100 points at 20,573, while the Hang Seng had fallen 400 points at 27,677.

WTI crude oil traded at $57.77 a barrel and Brent at $62.59.

Gold settled at $1,187.9 an ounce.

LONDON MARKETS

In the corporate diary today, trading statements are due from IG Group and Kingfisher, interim results are expected from Alpha Bank, Public Power Corp and Signet Jewelers and final results are scheduled to be released by B&M European Value Retail, Gable Holdings, Helical Bar, Infinis, PayPoint, Porta Communications and Tate & Lyle.

Meanwhile, Allied Mind, Electric Word, Fair Oaks Income Fund, F&C Commercial Property Trust, Galasys, Kenmare Resources, Metminco, NetPlay TV, Powerflute and Trap Oil Group are due to host shareholder meetings.