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London close: Stocks close lower as rally fizzles out

Wed, 22nd Sep 2010 17:00

Footsie gave up a brief rally to close in the red on an uncertain day's trading in the wake of Federal Reserve chairman Ben Bernanke's nervous comments on US economic prospects yesterday. Shares in the US moved lower despite having rallied earlier.Similar sentiments to those expressed by Bernanke appeared in minutes released by the Bank of England today from its Monetary Policy Committee (MPC) meeting earlier this month. The MPC voted 8-1 in favour of keeping interest rates at a record low of 0.5%. Andrew Sentence, who repeated his call for a 25 basis point rate rise, said that the rebound in domestic demand over the past year suggested that the recovery would have sufficient momentum to withstand fiscal tightening, but other MPC members have become concerned about economic prospects.Mining stocks moved ahead industrial metal miners such as Antofagasta, Kazakhmys and Rio Tinto overtaking gold miners such as African Barrick, Fresnillo, and Randgold, which raced ahead in the morning session as the price of gold hit a new high. Anglo-Swiss mining giant Xstrata was also on the up after announcing it has successfully negotiated a $4bn multi-currency revolving credit facility to replace its existing $5.5bn facility, which matures in October 2011.BHP Billiton shareholders will demand success from chief executive Marius Kloppers this year after it emerged that the company, currently facing the prospect of a bid battle for Potash Corp, paid him $11.3m (£7.2m) in 2009. Kloppers, who's coming up to three years in the job now, received a base salary and bonus of $4.4m, with chunky pension, dividend and share-based payments making up the rest.Elsewhere, shares in Imperial Tobacco proved a draw as the Lambert & Butler cigarettes maker assured the market it is still on track to meet forecasts for the year, though growth in tobacco revenues has slowed slightly over the last six months. IMPs expects net revenues to be up around 3% in the year to 30 September compared with a 4% gain to £3.4bn for the six months to 31 March. Stockbroker Killik & Co was singing IMPs' praises as "one of the most attractively rated defensive companies in the market" with a little bit of added spice of murmurings of bid interest, though given the level of debt IMPs has and the regulatory hurdles any bidder would have to clear, the broker considers the prospect of a bid to be low.Broker comment was less helpful to pumps maker Weir , just a couple of days after it made it into the FTSE 100. RBS has changed its stance on the company's shares from "buy" to "hold", even though it has raised its target price from 1412p to 1567p.Moir Lockhead, the veteran chief executive of FirstGroup, is to retire next March after twenty one years in charge of the bus and train group. His replacement will be his current deputy Tim O'Toole, previously the managing director of London Underground.Waste management firm Shanks has been a bid target in the past, having been approached by private equity group Carlyle, and it could be a target again in the near future if market gossip is to be believed. The shares are the best performers among FTSE 250 companies. The utility solutions arm of energy supplier Scottish and Southern Energy is to develop an embedded electricity network for Nissan Motor manufacturing UK.Redhall has agreed to buy Mount Engineering for 70p per share, valuing the oil and gas valve maker at £16m. Redhall said the purchase will boost in its international presence in the oil and gas market and strengthen its specialist manufacturing capability, especially in high hazard markets.Shareholders are loving Internet dating agency Easydate after it won the hand of rival Cupid for which it will pay a total of $6.6m (£4.4m) from US owners OnTargetJobs.Sugar replacement firm PureCircle said full year operating profit slumped as it decided to move all sales solely to end users.FTSE 100 - RisersAntofagasta (ANTO) 1,214.00p +3.14%Kazakhmys (KAZ) 1,440.00p +2.86%Randgold Resources (RRS) 6,485.00p +2.77%Xstrata (XTA) 1,198.50p +2.66%African Barrick Gold (ABG) 601.00p +2.47%Rio Tinto (RIO) 3,652.50p +2.31%BHP Billiton (BLT) 2,000.00p +2.09%Fresnillo (FRES) 1,220.00p +2.01%Cairn Energy (CNE) 445.00p +1.95%Imperial Tobacco Group (IMT) 1,926.00p +1.74%FTSE 100 - FallersAviva (AV.) 397.00p -4.80%Invensys (ISYS) 281.70p -3.30%Autonomy Corporation (AU.) 1,769.00p -3.28%Weir Group (WEIR) 1,395.00p -3.12%Petrofac Ltd. (PFC) 1,369.00p -2.77%WPP Group (WPP) 709.50p -2.74%Essar Energy (ESSR) 444.10p -2.59%Smiths Group (SMIN) 1,212.00p -2.42%Hammerson (HMSO) 387.20p -2.30%Royal Bank of Scotland Group (RBS) 47.50p -2.22%FTSE 250 - RisersShanks Group (SKS) 109.80p +6.09%ITE Group (ITE) 170.00p +2.53%Victrex (VCT) 1,230.00p +2.50%Keller Group (KLR) 626.00p +2.37%Cranswick (CWK) 840.50p +2.25%Shaftesbury (SHB) 438.40p +2.12%Gartmore Group (GRT) 114.80p +1.59%Centamin Egypt (CEY) 187.50p +1.52%Jardine Lloyd Thompson Group (JLT) 591.00p +1.46%TalkTalk Telecom Group (TALK) 141.20p +1.36%FTSE 250 - FallersDevro (DVO) 242.40p -5.75%Supergroup (SGP) 1,221.00p -5.50%Pace (PIC) 188.50p -5.04%Kenmare Resources (KMR) 19.00p -5.00%Kier Group (KIE) 1,124.00p -4.91%Morgan Crucible (MGCR) 206.40p -4.84%Capital & Counties Properties (CAPC) 131.10p -4.65%PZ Cussons (PZC) 366.80p -4.03%CPP Group (CPP) 264.20p -3.93%JPMorgan Indian Inv Trust (JII) 465.40p -3.82%
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12 Oct 2015 10:35

PureCircle To Receive US Patent For Rebaudioside M Use In Beverages

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21 Sep 2015 07:50

REPEAT: PureCircle To Move To Main Market As Profit Rises (ALLISS)

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21 Sep 2015 06:58

PureCircle To Move To Main Market As Profit And Revenue Rise

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14 Sep 2015 14:58

Earnings, Trading Statements Calendar - Week Ahead

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10 Jul 2015 15:03

PureCircle appoints former Pepsi executive to board

(ShareCast News) - Stevia producer PureCircle has picked up former Pepsi executive Mitch Adamek as a board member. The AIM-listed company said in an announcement that it had also appointed Guy Wollaert to its board. Wollert was also a non-executive director of Wayne Farms LLC, which is the sixth la

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6 Jul 2015 11:56

Purecircle expects full-year results to be in line with expectations

Provider of natural sweeteners to the global food and beverage industry PureCircle said its sales for the second half of the year will rise despite a hit from the weakening of certain sales currencies. The company expects sales to be $84m during the second half of the year and not less than $127m fo

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6 Jul 2015 08:28

PureCircle Set To Report Strong Financial Results For Full-Year

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15 May 2015 00:00

Singapore's Olam Q1 net profit falls 92 pct on one-off items

SINGAPORE, May 15 (Reuters) - Singapore-based commodity firm Olam International Ltd said on Friday that net profit for the three months ended March 31 tumbled 92 percent to S$31.3 million ($23.7 million) due to one-time items. Olam said an exceptional gain from the revaluation of its stake

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24 Apr 2015 07:47

PureCircle To Buy Rest Of China Venture For USD1.8 Million (ALLISS)

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18 Mar 2015 15:51

CORRECT (Mar 16): PureCircle Operating Profits Rise Strongly, Confident In Prospects

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18 Mar 2015 09:42

BROKER RATINGS SUMMARY: Barclays And Bernstein Lift Standard Chartered

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16 Mar 2015 08:22

UK MORNING BRIEFING: London Starts Week Of Key Market Events Firmly

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16 Mar 2015 08:21

PureCircle annual operating profits rise on higher revenue

Sweetener producer PureCircle's annual operating profits rose as revenue was driven higher by having its product incorporated into Coca-Cola, Pepsi and other carbonated drink products. The group reported an annual net loss of $899m (£608.4m), a 52.7% decline from the previous year, while earnings be

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5 Jan 2015 08:18

London open: UK stocks rise ahead of data-heavy week, M&S falls

After an initial dip, UK stocks pushed into positive territory early on Monday as traders returned to their desks after the festive holidays in an optimistic mood. London's FTSE 100 index was up 0.4% at 6,571, quickly bouncing off an intraday low of 6,522.59 reached shortly after the open. "This Mo

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5 Jan 2015 07:38

London pre-open: Stocks expected to fall as volumes pick up

UK stocks are expected to drop on Monday morning as traders return to their desks in a cautious mood after the festive holidays. City sources predict the FTSE 100 will open around 40 points lower than Friday's close of 6,547.80. "This Monday finally sees the return of most traders from the Christma

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