Oil and gas supermajor BP (LON:BP) emerged atop the leaderboard with a gain of nearly 5%. Publisher Pearson (LON:PSON) and retailer Marks & Spencer (LON:MKS) followed, advancing 2.7% and 2.1% respectively. Asset management company Schroders (LON:SDR) and temporary power provider Aggreko (LON:AGK) added more than 1.5%. Caterer Compass Group (LON:CPG), retailers Morrison’s (LON:MRW) and Tesco (LON:TSCO), security services firm G4S (LON:GFS) and telecom company Cable & Wireless Worldwide (LON:CW) all tacked on more than 1%.
Banks RBS (LON:RBS) and Barclays (LON:BARC) were at the bottom of the pile with losses of nearly 2.5%. Copper miner ENRC (LON:ENRC) and software developer Autonomy Corp (LON:AU) declined 2.1%.
Overview: it has been a quiet day with little economic data having been released and little movement seen in European stock markets as the FTSE 100 was just 0.1% above Friday's closing level. BP (LON:BP) was doing well on reports that it was looking for investors to help it fight off potential takeover bids from rivals oil and gas producers.
Oil and gas supermajor BP (LON:BP) emerged atop the leaderboard with a gain of nearly 5%. Publisher Pearson (LON:PSON) and retailer Marks & Spencer (LON:MKS) followed, advancing 2.7% and 2.1% respectively. Asset management company Schroders (LON:SDR) and temporary power provider Aggreko (LON:AGK) added more than 1.5%. Caterer Compass Group (LON:CPG), retailers Morrison’s (LON:MRW) and Tesco (LON:TSCO), security services firm G4S (LON:GFS) and telecom company Cable & Wireless Worldwide (LON:CW) all tacked on more than 1%.
Banks RBS (LON:RBS) and Barclays (LON:BARC) were at the bottom of the pile with losses of nearly 2.5%. Copper miner ENRC (LON:ENRC) and software developer Autonomy Corp (LON:AU) declined 2.1%.
Commodities
Crude futures were slightly higher today due to stronger demand from bargain hunters, which were taking advantage of the low prices that declined from nearly US$80/barrel to below US$72/barrel last week.
Commodity markets were in decline last week due to mounting concerns that the ongoing economic recovery isn’t as strong as thought and that Chinese economic growth, a key support factor for oil and metal prices, is slowing. These fears were triggered by disappointing updates on US and Chinese manufacturing that were reported last week along with a decline in the index of China’s leading indicators.
The key jobs update released in the US on Friday showed a decline of 125,000 in non-farm payrolls, mostly due to the reduction of 225,000 temporary census jobs, while the private sector was shown to have created just 83,000 jobs. The unemployment rate unexpectedly declined from 9.7% to 9.5% to partly offset the disappointing jobs data.
August Brent Crude rose to US$71.98/barrel, while US light, sweet crude for August delivery improved to US$72.41/barrel on the New York Mercantile Exchange (NYMEX).
Blue chip oil and gas companies were mixed today. BP (LON:BP) was in the lead, rallying 4%. Fellow supermajor Shell (LON:RDSB) lost less than 1% as did Cairn Energy (LON:CNE). BG Group (LON:BG) posted a small gain, while Tullow Oil (LON:TLW) was unmoved.
Amec (LON:AMEC) added nearly 1%. Another oil and gas engineering firm, Petrofac (LON:PFC), posted a marginal loss.
Midcaps generally did better. Salamander Energy (LON:SMDR) led the pack with a gain of nearly 3%. Premier Oil (LON:PMO) and JKX Oil & Gas (LON:JKX) climbed 2.1% and 1% respectively, while Dragon Oil (LON:DGO), Heritage Oil (LON:HOIL) and Soco International (LON:SIA) posted small gains.
Dana Petroleum (LON:DNX) shed less than 1%, while Melrose Resources (LON:MRS) was flat.
Services companies headed in different directions as Wood Group (LON:WG) posted a small loss, while Wellstream Holdings (LON:WSM) advanced 2.6%.
Iraq operating Irish oil company Petrel Resources (LON:PET) and EU operating Rome-based oil junior Mediterranean Oil & Gas (LON:MOG) lost 9% and 7% respectively.
Gold steady as markets remain flat
Gold moved inversely to the markets today, posting a slight loss, while the FTSE 100 was just above the opening level and futures for the Dow Jones and broader S&P 500 indexes in the US were unmoved. The yellow metal is also supported by increased buying on weakness after the prices slipped below US$1,200/oz during last week’s freefall not long after nearly reaching US$1,300/oz.
Gold slid to US$1,207/oz today. Silver followed, declining to US$17.82/oz, while platinum rose to US$1,506/oz.
Major mining stocks slipped into the red today. Randgold Resources (LON:RRS) posted a small loss, while silver miner Fresnillo (LON:FRES) and platinum producer Lonmin (LON:LMI) both added 1%.
Specialty chemicals firm Johnson Matthey (LON:JMAT) was flat.
Aquarius Platinum (LON:AQP) was the heaviest faller among the midcaps with a 3% decline. Silver producer Hochschild Mining (LON:HOC) and gold miner Petropavlovsk (LON:POG) shed 1.2% and 1% respectively.
Turkey focused gold miner Ariana Resources (AIM: AAU) was among the leading performers in the sector with a 6% advance. UK-registered Australasia focused copper and gold miner Central China Goldfields (AIM: GGG) and Australian gold and copper prospector Solomon Gold (AIM: SOLG) tacked on 5% and 4% respectively.
Base metal miners retreat
Base metals were mixed as while copper improved to US$2.91/lb, nickel fell to US$8.49/lb and zinc was flat at US$0.80/lb.
Major mining stocks were in decline. Antofagasta (LON:ANTO), BHP Billiton (LON:BLT), Eurasian Natural Resources (LON:ENRC) and Xstrata (LON:XTA) shed nearly 2%. Anglo American (LON:AAL), Kazakhmys (LON:KAZ) and Vedanta Resources (LON:VED) lost just over 1% and Rio Tinto (LON:RIO) declined 1.5%.
London's only listed pure iron ore producer and FTSE 250 constituent, Ferrexpo (LSE: FXPO) moved with the sector, sliding 1.3%.
Specialty minerals exploration and development company Thor Mining (AIM: THR) led the sector with a 17% rally. Nickel and iron ore exploration junior Landore Resources (AIM: LND) and iron ore focused investor Red Rock Resources (AIM: RRR) declined 5.5%.
Laterite nickel specialist European Nickel (AIM: ENK) went in the opposite direction, slipping 10%. South Africa operating chrome miner Chromex Mining (AIM: CHX) followed with a 9.5% loss. Mineral sands producer Kenmare Resources (LSE: KMR) and tantalum concentrate supplier with assets in Mozambique Noventa (AIM: NVTA) dropped 7%.
Banks, insurance, private equity
Most financial stocks were in decline today. Royal Bank of Scotland (LON:RBS) and Barclays (LON:BARC) were at the bottom of the banking sector with losses of 2.3% and 2% respectively. HSBC (LON:HSBA) and Lloyds (LON:LLOY) shed less than 1% and Standard Chartered (LON:STAN) was flat.
Insurance companies didn’t show much movement today. Aviva (LON:AV) added 1%, while Admiral Group (LON:ADM) also stayed on positive ground with a small gain. Old Mutual (LON:OML) shed less than 1%. Legal & General (LON:LGEN), Prudential (LON:PRU), RSA Insurance Group (LON:RSA) and Standard Life (LON:SL) were flat.
Private equity firm 3i (LON:III) dropped 1.1%.
Small cap movers
Other notable movers among the small caps included mobile email and data synchronisation group Synchronica PLC (AIM: SYNC) with a 20% rally and environmental science and technology company Accsys Technologies (AIM: AXS) which surged 7%.
Small Cap News
EMED Mining (LON:EMED) has been boosted by a U-turn in proposed European mining legislation, as the European Commission rejected a proposed ban on the use of cyanide in mining activities. The company said that as a result the permitting risks to its European projects have been reduced.
Thor Mining (LON:THR, ASX:THR) told investors that it has now received the remaing assays from the initial calcrete sampling at the Dundas gold project in Western Australia, and the results have revealed additional anomalies with new drilling targets.
Cinpart’s (LON:CINP) 72.2%-owned voltage optimisation business, Active Energy, has selected a suitable location for its US-based assembly plant - the Foreign-Trade Zone 181 in Summit County, Ohio. To support the establishment of the facility, Active Energy has signed a MoU (Memorandum of Understanding) with three organisations based in Ohio.
SmartFOCUS (LON:STF) has secured a contract from the UK’s largest independent retailer of train tickets, thetrainline.com, to provide is Intelligence Marketing software to enhance customer visibility, enabling it to analyze customer behaviour and deliver actionable information to its partner organisations and clients, which include Virgin Trains and First Group.
Minera IRL (LON:MIRL, TSX:IRL, BVL:MIRL) has identified a substantial hydrothermal alteration system, with a significant presence of gold and copper, at the Bethania project, just 10km away from its operational Corihuarmi gold mine in Peru.
In an note on Synchronica (LON:SYNC), entitled “Large Contracts Arrive Like Buses”, investment research specialist Equity Development said that several new contracts, announced last week, vindicate its decision to retain positive forecasts, despite the cautious statements previously reported by the company prior to its recent FY09 results.
Animal genetics company Genus (LON:GNS) said that trading in the final two months of the financial year had been in line with expectations and it was on track to achieve an improvement in performance in the second half of the year.
Publisher Dods (LON:DODS) has confirmed that it has received a takeover approached from a “number of third parties” after it was reported by the media, saying the talks “may or may not lead” to an offer for the company.
Avocet Mining (LON:AVM) has agreed to sell its 100% interest in the Hounde group of gold mining licenses in Burkina Faso to Avion Gold Corp (TSX:AVR) for a 13% stake in the company worth £7 million.
Alliance Pharma’s (LON:APH) second largest shareholder, Nigel Wray, has further increased his stake in the company, buying 1.9 million shares. With 27.9 million shares, approximately 12.03% of the issued share capital, Wray remains the company’s second largest shareholder behind Chief Executive John Dawson - who controls 46.6 million shares, or 20.17%.
Red Rock Resources (LON:RRR) has procured a US$2m bank loan for Mineras Four Points SA (MFP), in accordance with the funding and co-operation agreement between the parties signed in June. MFP is expected to drawn down the first US$1m by 2 July 2010, and the balance will be drawn-down within the subsequent three months.
Large and Mid Cap News
Distribution and outsourcing services provider Bunzl PLC (LON:BNZL) said it has acquired Etablissements Glorieux SA, which trades as Global Net, from Olivier and Luc Glorieux.
Edison Investment Research highlighted that Northern Petroleum (LON:NOP) will continue its operations in Italy with “business as usual”. Last week, the Italian Minister of Environment proposed a ban on drilling in Italian seas within five miles of the coastline, and 12 miles around protected marine parks.
Housebuilder Travis Perkins (LON:TPK) announced it is making a recommended cash and shares offer to acquire BSS Group (LON:BTSM) for £557.6 million, projecting the deal to result in £25 million annualised cost savings in 2013 and deliver “materially enhanced earnings” in 2011, the first full year after completion of the acquisition.
Business services group Serco (LON:SRP) has won a 26-1/2 year contract from the British Ministry of Justice to provide and operate a new prison at Belmarsh West, London, for £415 million.
In its half-yearly report, brownfield redevelopment specialist St. Modwen Properties (LON:SMP) said that real-estate investor appetite has been gradually returning, and as a result the company has reversed some of the significant negative valuations experienced during the downturn. The company swung-back into profits in H1, reporting a £26.7m pretax profit compared with a £98.3m loss in H109.
Oil and gas supermajor BP (LON:BP) emerged atop the leaderboard with a gain of nearly 5%. Publisher Pearson (LON:PSON) and retailer Marks & Spencer (LON:MKS) followed, advancing 2.7% and 2.1% respectively. Asset management company Schroders (LON:SDR) and temporary power provider Aggreko (LON:AGK) added more than 1.5%. Caterer Compass Group (LON:CPG), retailers Morrison’s (LON:MRW) and Tesco (LON:TSCO), security services firm G4S (LON:GFS) and telecom company Cable & Wireless Worldwide (LON:CW) all tacked on more than 1%.
Banks RBS (LON:RBS) and Barclays (LON:BARC) were at the bottom of the pile with losses of nearly 2.5%. Copper miner ENRC (LON:ENRC) and software developer Autonomy Corp (LON:AU) declined 2.1%.
US markets were closed for the Independence Day holiday today.
Crude futures were slightly higher today due to stronger demand from bargain hunters, which were taking advantage of the low prices that declined from nearly US$80/barrel to below US$72/barrel last week.
Commodity markets were in decline last week due to mounting concerns that the ongoing economic recovery isn’t as strong as thought and that Chinese economic growth, a key support factor for oil and metal prices, is slowing. These fears were triggered by disappointing updates on US and Chinese manufacturing that were reported last week along with a decline in the index of China’s leading indicators.
The key jobs update released in the US on Friday showed a decline of 125,000 in non-farm payrolls, mostly due to the reduction of 225,000 temporary census jobs, while the private sector was shown to have created just 83,000 jobs. The unemployment rate unexpectedly declined from 9.7% to 9.5% to partly offset the disappointing jobs data.
August Brent Crude rose to US$71.98/barrel, while US light, sweet crude for August delivery improved to US$72.41/barrel on the New York Mercantile Exchange (NYMEX).
Blue chip oil and gas companies were mixed today. BP (LON:BP) was in the lead, rallying 4%. Fellow supermajor Shell (LON:RDSB) lost less than 1% as did Cairn Energy (LON:CNE). BG Group (LON:BG) posted a small gain, while Tullow Oil (LON:TLW) was unmoved.
Amec (LON:AMEC) added nearly 1%. Another oil and gas engineering firm, Petrofac (LON:PFC), posted a marginal loss.
Midcaps generally did better. Salamander Energy (LON:SMDR) led the pack with a gain of nearly 3%. Premier Oil (LON:PMO) and JKX Oil & Gas (LON:JKX) climbed 2.1% and 1% respectively, while Dragon Oil (LON:DGO), Heritage Oil (LON:HOIL) and Soco International (LON:SIA) posted small gains.
Dana Petroleum (LON:DNX) shed less than 1%, while Melrose Resources (LON:MRS) was flat.
Services companies headed in different directions as Wood Group (LON:WG) posted a small loss, while Wellstream Holdings (LON:WSM) advanced 2.6%.
Iraq operating Irish oil company Petrel Resources (LON:PET) and EU operating Rome-based oil junior Mediterranean Oil & Gas (LON:MOG) lost 9% and 7% respectively.
Gold steady as markets remain flat
Gold moved inversely to the markets today, posting a slight loss, while the FTSE 100 was just above the opening level and futures for the Dow Jones and broader S&P 500 indexes in the US were unmoved. The yellow metal is also supported by increased buying on weakness after the prices slipped below US$1,200/oz during last week’s freefall not long after nearly reaching US$1,300/oz.
Gold slid to US$1,207/oz today. Silver followed, declining to US$17.82/oz, while platinum rose to US$1,506/oz.
Major mining stocks slipped into the red today. Randgold Resources (LON:RRS) posted a small loss, while silver miner Fresnillo (LON:FRES) and platinum producer Lonmin (LON:LMI) both added 1%.
Specialty chemicals firm Johnson Matthey (LON:JMAT) was flat.
Aquarius Platinum (LON:AQP) was the heaviest faller among the midcaps with a 3% decline. Silver producer Hochschild Mining (LON:HOC) and gold miner Petropavlovsk (LON:POG) shed 1.2% and 1% respectively.
Turkey focused gold miner Ariana Resources (AIM: AAU) was among the leading performers in the sector with a 6% advance. UK-registered Australasia focused copper and gold miner Central China Goldfields (AIM: GGG) and Australian gold and copper prospector Solomon Gold (AIM: SOLG) tacked on 5% and 4% respectively.
Base metal miners retreat
Base metals were mixed as while copper improved to US$2.91/lb, nickel fell to US$8.49/lb and zinc was flat at US$0.80/lb.
Major mining stocks were in decline. Antofagasta (LON:ANTO), BHP Billiton (LON:BLT), Eurasian Natural Resources (LON:ENRC) and Xstrata (LON:XTA) shed nearly 2%. Anglo American (LON:AAL), Kazakhmys (LON:KAZ) and Vedanta Resources (LON:VED) lost just over 1% and Rio Tinto (LON:RIO) declined 1.5%.
London's only listed pure iron ore producer and FTSE 250 constituent, Ferrexpo (LSE: FXPO) moved with the sector, sliding 1.3%.
Specialty minerals exploration and development company Thor Mining (AIM: THR) led the sector with a 17% rally. Nickel and iron ore exploration junior Landore Resources (AIM: LND) and iron ore focused investor Red Rock Resources (AIM: RRR) declined 5.5%.
Laterite nickel specialist European Nickel (AIM: ENK) went in the opposite direction, slipping 10%. South Africa operating chrome miner Chromex Mining (AIM: CHX) followed with a 9.5% loss. Mineral sands producer Kenmare Resources (LSE: KMR) and tantalum concentrate supplier with assets in Mozambique Noventa (AIM: NVTA) dropped 7%.
Banks, insurance, private equity
Most financial stocks were in decline today. Royal Bank of Scotland (LON:RBS) and Barclays (LON:BARC) were at the bottom of the banking sector with losses of 2.3% and 2% respectively. HSBC (LON:HSBA) and Lloyds (LON:LLOY) shed less than 1% and Standard Chartered (LON:STAN) was flat.
Insurance companies didn’t show much movement today. Aviva (LON:AV) added 1%, while Admiral Group (LON:ADM) also stayed on positive ground with a small gain. Old Mutual (LON:OML) shed less than 1%. Legal & General (LON:LGEN), Prudential (LON:PRU), RSA Insurance Group (LON:RSA) and Standard Life (LON:SL) were flat.
Private equity firm 3i (LON:III) dropped 1.1%.
Small cap movers
Other notable movers among the small caps included mobile email and data synchronisation group Synchronica PLC (AIM: SYNC) with a 20% rally and environmental science and technology company Accsys Technologies (AIM: AXS) which surged 7%.
Small Cap News
EMED Mining (LON:EMED) has been boosted by a U-turn in proposed European mining legislation, as the European Commission rejected a proposed ban on the use of cyanide in mining activities. The company said that as a result the permitting risks to its European projects have been reduced.
Thor Mining (LON:THR, ASX:THR) told investors that it has now received the remaing assays from the initial calcrete sampling at the Dundas gold project in Western Australia, and the results have revealed additional anomalies with new drilling targets.
Cinpart’s (LON:CINP) 72.2%-owned voltage optimisation business, Active Energy, has selected a suitable location for its US-based assembly plant - the Foreign-Trade Zone 181 in Summit County, Ohio. To support the establishment of the facility, Active Energy has signed a MoU (Memorandum of Understanding) with three organisations based in Ohio.
SmartFOCUS (LON:STF) has secured a contract from the UK’s largest independent retailer of train tickets, thetrainline.com, to provide is Intelligence Marketing software to enhance customer visibility, enabling it to analyze customer behaviour and deliver actionable information to its partner organisations and clients, which include Virgin Trains and First Group.
Minera IRL (LON:MIRL, TSX:IRL, BVL:MIRL) has identified a substantial hydrothermal alteration system, with a significant presence of gold and copper, at the Bethania project, just 10km away from its operational Corihuarmi gold mine in Peru.
In an note on Synchronica (LON:SYNC), entitled “Large Contracts Arrive Like Buses”, investment research specialist Equity Development said that several new contracts, announced last week, vindicate its decision to retain positive forecasts, despite the cautious statements previously reported by the company prior to its recent FY09 results.
Animal genetics company Genus (LON:GNS) said that trading in the final two months of the financial year had been in line with expectations and it was on track to achieve an improvement in performance in the second half of the year.
Publisher Dods (LON:DODS) has confirmed that it has received a takeover approached from a “number of third parties” after it was reported by the media, saying the talks “may or may not lead” to an offer for the company.
Avocet Mining (LON:AVM) has agreed to sell its 100% interest in the Hounde group of gold mining licenses in Burkina Faso to Avion Gold Corp (TSX:AVR) for a 13% stake in the company worth £7 million.
Alliance Pharma’s (LON:APH) second largest shareholder, Nigel Wray, has further increased his stake in the company, buying 1.9 million shares. With 27.9 million shares, approximately 12.03% of the issued share capital, Wray remains the company’s second largest shareholder behind Chief Executive John Dawson - who controls 46.6 million shares, or 20.17%.
Red Rock Resources (LON:RRR) has procured a US$2m bank loan for Mineras Four Points SA (MFP), in accordance with the funding and co-operation agreement between the parties signed in June. MFP is expected to drawn down the first US$1m by 2 July 2010, and the balance will be drawn-down within the subsequent three months.
Large and Mid Cap News
Distribution and outsourcing services provider Bunzl PLC (LON:BNZL) said it has acquired Etablissements Glorieux SA, which trades as Global Net, from Olivier and Luc Glorieux.
Edison Investment Research highlighted that Northern Petroleum (LON:NOP) will continue its operations in Italy with “business as usual”. Last week, the Italian Minister of Environment proposed a ban on drilling in Italian seas within five miles of the coastline, and 12 miles around protected marine parks.
Housebuilder Travis Perkins (LON:TPK) announced it is making a recommended cash and shares offer to acquire BSS Group (LON:BTSM) for £557.6 million, projecting the deal to result in £25 million annualised cost savings in 2013 and deliver “materially enhanced earnings” in 2011, the first full year after completion of the acquisition.
Business services group Serco (LON:SRP) has won a 26-1/2 year contract from the British Ministry of Justice to provide and operate a new prison at Belmarsh West, London, for £415 million.
In its half-yearly report, brownfield redevelopment specialist St. Modwen Properties (LON:SMP) said that real-estate investor appetite has been gradually returning, and as a result the company has reversed some of the significant negative valuations experienced during the downturn. The company swung-back into profits in H1, reporting a £26.7m pretax profit compared with a £98.3m loss in H109.
Crude futures were slightly higher today due to stronger demand from bargain hunters, which were taking advantage of the low prices that declined from nearly US$80/barrel to below US$72/barrel last week.
Commodity markets were in decline last week due to mounting concerns that the ongoing economic recovery isn’t as strong as thought and that Chinese economic growth, a key support factor for oil and metal prices, is slowing. These fears were triggered by disappointing updates on US and Chinese manufacturing that were reported last week along with a decline in the index of China’s leading indicators.
The key jobs update released in the US on Friday showed a decline of 125,000 in non-farm payrolls, mostly due to the reduction of 225,000 temporary census jobs, while the private sector was shown to have created just 83,000 jobs. The unemployment rate unexpectedly declined from 9.7% to 9.5% to partly offset the disappointing jobs data.
August Brent Crude rose to US$71.98/barrel, while US light, sweet crude for August delivery improved to US$72.41/barrel on the New York Mercantile Exchange (NYMEX).
Blue chip oil and gas companies were mixed today. BP (LON:BP) was in the lead, rallying 4%. Fellow supermajor Shell (LON:RDSB) lost less than 1% as did Cairn Energy (LON:CNE). BG Group (LON:BG) posted a small gain, while Tullow Oil (LON:TLW) was unmoved.
Amec (LON:AMEC) added nearly 1%. Another oil and gas engineering firm, Petrofac (LON:PFC), posted a marginal loss.
Midcaps generally did better. Salamander Energy (LON:SMDR) led the pack with a gain of nearly 3%. Premier Oil (LON:PMO) and JKX Oil & Gas (LON:JKX) climbed 2.1% and 1% respectively, while Dragon Oil (LON:DGO), Heritage Oil (LON:HOIL) and Soco International (LON:SIA) posted small gains.
Dana Petroleum (LON:DNX) shed less than 1%, while Melrose Resources (LON:MRS) was flat.
Services companies headed in different directions as Wood Group (LON:WG) posted a small loss, while Wellstream Holdings (LON:WSM) advanced 2.6%.
Iraq operating Irish oil company Petrel Resources (LON:PET) and EU operating Rome-based oil junior Mediterranean Oil & Gas (LON:MOG) lost 9% and 7% respectively.
Gold steady as markets remain flat
Gold moved inversely to the markets today, posting a slight loss, while the FTSE 100 was just above the opening level and futures for the Dow Jones and broader S&P 500 indexes in the US were unmoved. The yellow metal is also supported by increased buying on weakness after the prices slipped below US$1,200/oz during last week’s freefall not long after nearly reaching US$1,300/oz.
Gold slid to US$1,207/oz today. Silver followed, declining to US$17.82/oz, while platinum rose to US$1,506/oz.
Major mining stocks slipped into the red today. Randgold Resources (LON:RRS) posted a small loss, while silver miner Fresnillo (LON:FRES) and platinum producer Lonmin (LON:LMI) both added 1%.
Specialty chemicals firm Johnson Matthey (LON:JMAT) was flat.
Aquarius Platinum (LON:AQP) was the heaviest faller among the midcaps with a 3% decline. Silver producer Hochschild Mining (LON:HOC) and gold miner Petropavlovsk (LON:POG) shed 1.2% and 1% respectively.
Turkey focused gold miner Ariana Resources (AIM: AAU) was among the leading performers in the sector with a 6% advance. UK-registered Australasia focused copper and gold miner Central China Goldfields (AIM: GGG) and Australian gold and copper prospector Solomon Gold (AIM: SOLG) tacked on 5% and 4% respectively.
Base metal miners retreat
Base metals were mixed as while copper improved to US$2.91/lb, nickel fell to US$8.49/lb and zinc was flat at US$0.80/lb.
Major mining stocks were in decline. Antofagasta (LON:ANTO), BHP Billiton (LON:BLT), Eurasian Natural Resources (LON:ENRC) and Xstrata (LON:XTA) shed nearly 2%. Anglo American (LON:AAL), Kazakhmys (LON:KAZ) and Vedanta Resources (LON:VED) lost just over 1% and Rio Tinto (LON:RIO) declined 1.5%.
London's only listed pure iron ore producer and FTSE 250 constituent, Ferrexpo (LSE: FXPO) moved with the sector, sliding 1.3%.
Specialty minerals exploration and development company Thor Mining (AIM: THR) led the sector with a 17% rally. Nickel and iron ore exploration junior Landore Resources (AIM: LND) and iron ore focused investor Red Rock Resources (AIM: RRR) declined 5.5%.
Laterite nickel specialist European Nickel (AIM: ENK) went in the opposite direction, slipping 10%. South Africa operating chrome miner Chromex Mining (AIM: CHX) followed with a 9.5% loss. Mineral sands producer Kenmare Resources (LSE: KMR) and tantalum concentrate supplier with assets in Mozambique Noventa (AIM: NVTA) dropped 7%.
Banks, insurance, private equity
Most financial stocks were in decline today. Royal Bank of Scotland (LON:RBS) and Barclays (LON:BARC) were at the bottom of the banking sector with losses of 2.3% and 2% respectively. HSBC (LON:HSBA) and Lloyds (LON:LLOY) shed less than 1% and Standard Chartered (LON:STAN) was flat.
Insurance companies didn’t show much movement today. Aviva (LON:AV) added 1%, while Admiral Group (LON:ADM) also stayed on positive ground with a small gain. Old Mutual (LON:OML) shed less than 1%. Legal & General (LON:LGEN), Prudential (LON:PRU), RSA Insurance Group (LON:RSA) and Standard Life (LON:SL) were flat.
Private equity firm 3i (LON:III) dropped 1.1%.
Small cap movers
Other notable movers among the small caps included mobile email and data synchronisation group Synchronica PLC (AIM: SYNC) with a 20% rally and environmental science and technology company Accsys Technologies (AIM: AXS) which surged 7%.
Small Cap News
EMED Mining (LON:EMED) has been boosted by a U-turn in proposed European mining legislation, as the European Commission rejected a proposed ban on the use of cyanide in mining activities. The company said that as a result the permitting risks to its European projects have been reduced.
Thor Mining (LON:THR, ASX:THR) told investors that it has now received the remaing assays from the initial calcrete sampling at the Dundas gold project in Western Australia, and the results have revealed additional anomalies with new drilling targets.
Cinpart’s (LON:CINP) 72.2%-owned voltage optimisation business, Active Energy, has selected a suitable location for its US-based assembly plant - the Foreign-Trade Zone 181 in Summit County, Ohio. To support the establishment of the facility, Active Energy has signed a MoU (Memorandum of Understanding) with three organisations based in Ohio.
SmartFOCUS (LON:STF) has secured a contract from the UK’s largest independent retailer of train tickets, thetrainline.com, to provide is Intelligence Marketing software to enhance customer visibility, enabling it to analyze customer behaviour and deliver actionable information to its partner organisations and clients, which include Virgin Trains and First Group.
Minera IRL (LON:MIRL, TSX:IRL, BVL:MIRL) has identified a substantial hydrothermal alteration system, with a significant presence of gold and copper, at the Bethania project, just 10km away from its operational Corihuarmi gold mine in Peru.
In an note on Synchronica (LON:SYNC), entitled “Large Contracts Arrive Like Buses”, investment research specialist Equity Development said that several new contracts, announced last week, vindicate its decision to retain positive forecasts, despite the cautious statements previously reported by the company prior to its recent FY09 results.
Animal genetics company Genus (LON:GNS) said that trading in the final two months of the financial year had been in line with expectations and it was on track to achieve an improvement in performance in the second half of the year.
Publisher Dods (LON:DODS) has confirmed that it has received a takeover approached from a “number of third parties” after it was reported by the media, saying the talks “may or may not lead” to an offer for the company.
Avocet Mining (LON:AVM) has agreed to sell its 100% interest in the Hounde group of gold mining licenses in Burkina Faso to Avion Gold Corp (TSX:AVR) for a 13% stake in the company worth £7 million.
Alliance Pharma’s (LON:APH) second largest shareholder, Nigel Wray, has further increased his stake in the company, buying 1.9 million shares. With 27.9 million shares, approximately 12.03% of the issued share capital, Wray remains the company’s second largest shareholder behind Chief Executive John Dawson - who controls 46.6 million shares, or 20.17%.
Red Rock Resources (LON:RRR) has procured a US$2m bank loan for Mineras Four Points SA (MFP), in accordance with the funding and co-operation agreement between the parties signed in June. MFP is expected to drawn down the first US$1m by 2 July 2010, and the balance will be drawn-down within the subsequent three months.
Large and Mid Cap News
Distribution and outsourcing services provider Bunzl PLC (LON:BNZL) said it has acquired Etablissements Glorieux SA, which trades as Global Net, from Olivier and Luc Glorieux.
Edison Investment Research highlighted that Northern Petroleum (LON:NOP) will continue its operations in Italy with “business as usual”. Last week, the Italian Minister of Environment proposed a ban on drilling in Italian seas within five miles of the coastline, and 12 miles around protected marine parks.
Housebuilder Travis Perkins (LON:TPK) announced it is making a recommended cash and shares offer to acquire BSS Group (LON:BTSM) for £557.6 million, projecting the deal to result in £25 million annualised cost savings in 2013 and deliver “materially enhanced earnings” in 2011, the first full year after completion of the acquisition.
Business services group Serco (LON:SRP) has won a 26-1/2 year contract from the British Ministry of Justice to provide and operate a new prison at Belmarsh West, London, for £415 million.
In its half-yearly report, brownfield redevelopment specialist St. Modwen Properties (LON:SMP) said that real-estate investor appetite has been gradually returning, and as a result the company has reversed some of the significant negative valuations experienced during the downturn. The company swung-back into profits in H1, reporting a £26.7m pretax profit compared with a £98.3m loss in H109.
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