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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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20 Dec 2011 08:47

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Berkeley Mineral Resources, the Zambia-focused minerals company, has seen its share price shoot up 8% this morning after announcing it has bought an option on stockpiles of copper tailings located in the Chingola area in the north of the country. Tailings are the residue of mining activity which of

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Berkeley Mineral to cash in on zinc and lead dump

Berkeley Mineral Resources (BMR), the firm which owns the disused Kabwe mine in Zambia, says it is in discussions to sell on one of the huge residue dumps that it currently owns. In the mining industry, residue material is known as "tailings". Kabwe mine has three major dumps of tailings and they a

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23 Nov 2011 09:18

Berkeley Mineral Resources sees more value at Kabwe mine

Berkeley Mineral Resources, the company which aims to extract zinc and lead from residue dumps at the disused Kabwe mine in Zambia has begun re-drilling slag stockpiles. This phase of drilling is being carried out with the "percussion drills" necessary to provide samples that can be assessed by sci

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Glencore non-exec buys first shares

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10 Jun 2011 11:57

Berkeley will go ahead with share placement and one acquisition

Miner and metals processor Berkeley Mineral Resources has today announced that its due diligence on BMR's proposed purchase of all the remaining stockpiles of tailings, not presently owned by it at the Kabwe mine, in Zambia, has been completed satisfactorily. The acquisition is now expected to go

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11 May 2011 16:36

BMR may issue discounted shares to fund bid

Miner and metals processor Berkeley Mineral Resources got a bit of a bashing on Wednesday as it proposed to place 145m new shares at 4p each, well below the prevailing mid-market price. In addition to the new placing shares the company will issue one warrant for every two placing shares subscribed

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7 Apr 2011 15:45

Diageo finance boss tops up

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31 Mar 2011 10:46

Berkeley Mineral 'positive' despite bigger loss

Losses increased at Berkeley Mineral Resources during the first half, but production at Kabwe in Zambia should start during the second half and the outlook is "very positive". The company lost £863,632 in the six months ended 31 December 2010, up from £232,468 the year before, although the latest n

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28 Mar 2011 15:40

Berkeley Mineral completes Zambia purchase

The delayed acquisition of a zinc asset in Zambia by Berkeley Mineral Resources (BMR) has finally gone through. The UK mining tailings processor saw its share price slump back in December when it announced a delay in its acquisition of the remaining stockpiles of lead and zinc tailings at the Kabwe

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13 Dec 2010 11:10

Small caps round-up: Berkeley Mineral, Goldplat

A delay in its acquisition of a zinc asset in Zambia has sent shares in miner and metals processor Berkeley Mineral Resources sharply lower. Completion of the acquisition of the Kabwe tailings dump, where materials left over from previous mining operations are processed, is now expected to take pl

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26 Nov 2010 08:01

Berkeley Mineral has funding for Kabwe acquisition

Mining and processing company Berekeley Mineral is on the look-out for more things to buy once it has completed the acquisition of the remaining tailings at Kabwe, Zambia. The company acquired an option to secure the rights to process the remaining stockpiles of lead and zinc at Kabwe Mine, Zambia

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4 Oct 2010 12:57

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Gas storage group Infrastrata says it can get a project in Dorset moving forward after completing legal agreements with its partner eCORP. eCORP has acquired 50% of the project company, Portland Gas, in return for funding the next £22.9m for investment in the project, to match the amount Infrastra

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27 Jul 2010 07:44

Berkeley Mineral Metallurgical, Mineral Plan On Time, Budget

LONDON (Dow Jones)--Berkeley Minerals Resources PLC (BMR.LN), a company primarily engaged in processing mining tailings, said Tuesday that the mineral and metallurgical due diligence program is proceeding to time and to budget. MAIN FACTS: -South African drilling company Dump and Dune were c

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