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London midday: Equities fall as UK slips into deflation

Tue, 13th Oct 2015 11:28

(ShareCast News) - The UK equities market was under the cosh as the nation unexpectedly slipped into deflation in September.The Office for National Statistics revealed the consumer price index fell 0.1% year-on-year last month, compared to analysts' estimates for a flat reading in line with August.On a month-on-month comparison, CPI also dropped 0.1% in September following a 0.2% increase in August. Analysts had predicted 0% growth.The main driver of deflation was discounting at clothing stores and falling petrol and diesel prices."Although 'no-flation' may be starting to feel like it's here to stay, Cebr expects price growth to pick up in the next few months," said Cebr's managing economist Rob Habron."The oil price won't fall again by the same magnitude as last year, meaning that petrol and energy prices are likely to begin to stabilise. As such, their downward effect on inflation will diminish, and CPI growth could reach nearer to 1% by December."Weak Chinese trade data also weighed on markets, adding to worries about the country's flagging economy.Chinese exports decreased 3.7% in September from a year earlier in US dollar terms following a 5.5% drop in August, the General Administration of Customs revealed. Analysts had expected a 6% slide.Imports plunged 20.4% last month, worse than the 15.9% dip predicted, after a 13.8% fall in August.The trade balance, however, unexpectedly widened to $60.34bn in September from $60.24bn a month earlier when a surplus of $47.90bn had been forecast."Chinese trade figures have been a source of concern for some time now, with both dollar-denominated exports and imports having contracted for most of the year when compared to 12 months previous," said Craig Erlam, senior market analyst at Oanda."The biggest concern is the huge decline in imports and while a large part of this can be attributed to the collapse in commodity prices and should therefore ease of in the coming months, there does also appear to be a domestic demand problem as well."Among corporate stocks, Royal Mail was in the red on news the government has sold its remaining stake in the postal service group to professional investors.Glencore slumped as the mining continued to sell off assets, confirming the sales of mines in Australia and Chile.Barclays edged lower on reports the bank may name US investment banker Jes Stanley as its new chief executive.Going the other way, SABMiller jumped after the brewer agreed to a possible £44 per share takeover offer from AB InBev.Housebuilders rallied, including Barratt Developments, Taylor Wimpey and Berkley Group Holdings, as the ONS said UK house price growth remained at 5.2% in the year to August. Market MoverstechMARK 3,032.99 -0.05%FTSE 100 6,327.44 -0.69%FTSE 250 16,932.09 -0.32% FTSE 100 - RisersSABMiller (SAB) 3,947.50p +9.00%Barratt Developments (BDEV) 637.00p +1.76%easyJet (EZJ) 1,733.00p +1.64%Taylor Wimpey (TW.) 193.80p +1.63%Persimmon (PSN) 1,965.00p +1.50%Berkeley Group Holdings (The) (BKG) 3,252.00p +1.31%GlaxoSmithKline (GSK) 1,322.50p +1.26%Inmarsat (ISAT) 926.00p +1.09%Hargreaves Lansdown (HL.) 1,286.00p +1.02%TUI AG Reg Shs (DI) (TUI) 1,230.00p +0.82% FTSE 100 - FallersRoyal Mail (RMG) 449.10p -4.89%Glencore (GLEN) 116.10p -4.17%Johnson Matthey (JMAT) 2,505.00p -3.43%Anglo American (AAL) 670.00p -3.14%Standard Chartered (STAN) 739.90p -2.99%Tesco (TSCO) 196.00p -2.90%Barclays (BARC) 249.20p -2.86%Aberdeen Asset Management (ADN) 336.30p -2.38%Old Mutual (OML) 206.00p -2.28%Morrison (Wm) Supermarkets (MRW) 175.30p -2.07% FTSE 250 - RisersSophos Group (SOPH) 232.90p +3.70%Spire Healthcare Group (SPI) 369.20p +3.65%Bellway (BWY) 2,453.00p +3.50%Barr (A.G.) (BAG) 530.00p +3.31%Crest Nicholson Holdings (CRST) 540.00p +2.76%BTG (BTG) 575.00p +2.68%Michael Page International (MPI) 474.40p +2.20%Dechra Pharmaceuticals (DPH) 949.00p +2.10%Regus (RGU) 313.40p +1.98%Auto Trader Group (AUTO) 326.60p +1.90% FTSE 250 - FallersEvraz (EVR) 86.75p -8.15%Tullow Oil (TLW) 230.30p -4.87%Weir Group (WEIR) 1,284.00p -4.75%Home Retail Group (HOME) 143.30p -4.59%Kaz Minerals (KAZ) 138.10p -4.43%Premier Oil (PMO) 85.90p -3.75%IMI (IMI) 1,020.00p -3.41%Entertainment One Limited (ETO) 214.90p -3.20%Vedanta Resources (VED) 587.00p -2.73%Drax Group (DRX) 276.00p -2.65% FTSE TechMARK - RisersNCC Group (NCC) 256.50p +2.60%XP Power Ltd. (DI) (XPP) 1,523.00p +0.86%Sepura (SEPU) 173.50p +0.73%Skyepharma (SKP) 337.50p +0.37%Dialight (DIA) 657.00p +0.31%Consort Medical (CSRT) 928.00p +0.16%IShares Euro Gov Bond 7-10YR UCITS ETF (IEGM) € 203.59 +0.10% FTSE TechMARK - FallersSarossa (SARS) 1.82p -4.71%SDL (SDL) 388.25p -2.94%Spirent Communications (SPT) 75.00p -0.66%Innovation Group (TIG) 39.50p -0.63%BATM Advanced Communications Ltd. (BVC) 19.75p -0.63%Oxford Instruments (OXIG) 679.50p -0.37%KCOM Group (KCOM) 90.75p -0.27%Oxford Biomedica (OXB) 7.27p -0.14%
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3 Sep 2014 16:00

Sector movers: Evraz, Ferrexpo lead industrial miners higher on Ukraine hopes

Peace talks in Ukraine were giving the industrial metals and mining sector in London a big boost on Wednesday. Steel group Evraz and iron ore producer Ferrexpo, which both have assets eastern Europe, were among the best performers in the sector, up over 5% and 3% in afternoon trade, respectively.

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19 Aug 2014 11:50

Berkeley Mineral receives approval for Zambian mining project

Berkerley Mineral Resources' (BMR) wholly owned subsidiary Enviro Processing Limited (EPL) has received approval from the Zambian Environmental Management Agency for its lead-zinc recovery and copper processing at Kabwe. The approval is subject to conditions relating to the monitoring of protectio

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19 Aug 2014 08:36

Berkeley Mineral Resources Shares Surge On Kabwe Project Approval

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19 Aug 2014 07:38

CORRECT: UK MORNING BRIEFING: Surging Market Leaves BHP Behind

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19 Aug 2014 07:22

UK MORNING BRIEFING: Surging UK Market Leaves BHP Shares Behind

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1 Jul 2014 10:14

Berkeley Mineral Resources Conditionally Raises GBP1.0 Million In Placing

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24 Jun 2014 12:57

Berkeley Mineral Resources Slides As Kabwe Project Approval Is Deferred

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11 Jun 2014 11:04

Berkeley Mineral Resources Says Kabwe Project Approval Deferred

LONDON (Alliance News) - Berkeley Mineral Resources PLC shares dropped on Wednesday after the company said the Zambian Environmental Management Agency has decided to defer its Berkeley's environmental impact statement for the Kabwe project while it consults with relevant organisations. Berk

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30 May 2014 12:34

Berkeley Mineral Resources Hasn't Received Environmental Decision For Kabwe

LONDON (Alliance News) - Berkeley Mineral Resources PLC Friday said it has not received a decision from the Zambian Environmental Management Agency over the development of its Kabwe lead-zinc recovery project and copper processing plant within the anticipated schedule. The AIM-listed resour

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15 Apr 2014 09:13

Berkeley Mineral Resources Gets Approval For Kabwe Project At Public Meeting

LONDON (Alliance News) - Berkeley Mineral Resources PLC Tuesday said that its processing proposals for its Kabwe lead-zinc recovery project and copper processing plant in Zambia, was approved at a public meeting. The AIM-listed resource company with operations in Zambia, said that it expect

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15 Apr 2014 07:50

UK MORNING BRIEFING: Aggreko Leads After Mixed Results

LONDON (Alliance News) - Aggreko is leading the FTSE 100 in early trading Tuesday after the temporary power company said it has seen mixed results in its first quarter, with strong underlying revenue growth in two of its three regions being impacted by adverse currency movements as previously exp

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2 Apr 2014 11:41

DIRECTOR DEALINGS: Berkeley Minerals Chairman Buys 1.5 Million Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC Wednesday said Chairman Masoud Alikhani purchased 1.5 million shares in the company at an average price of 1.30 pence per share Tuesday. Following this transaction, Alikhani will hold a total of 24 million shares in representing 2.08%

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1 Apr 2014 14:24

DIRECTOR DEALINGS: Berkeley Mineral Resources Non-Executive Buys Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC Friday said non-executive Director Horacio Furman bought 1 million shares at a price of 1.33 pence per share Monday and now holds 4 million shares in total. Shares in the mining company were untraded at 1.30 pence Tuesday afternoon.Read more

28 Mar 2014 14:28

DIRECTOR DEALINGS: Berkeley Mineral Resources Non-Executive Director Buys Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC said its non-executive Director Mark Wainwright bought 850,000 shares in the company at an average price of 1.26 pence per share on Friday. Following the transaction, Wainwright will hold a total of 2.3 million shares in the company.Read more

28 Mar 2014 13:25

UK MIDDAY BRIEFING: FCA To Review Pensions, Life Insurance Policies

LONDON (Alliance News) - The life insurance sector was dragging down UK stock indices again Friday after the UK Financial Conduct Authority said it is set to begin an inquiry into up to 30 million policies sold from in the years prior to 2000.

The FTSE 350 sector is down 5.0% in rea

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