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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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3 Sep 2013 09:06

PureCircle Names Macquarie Capital As Broker, Agrees Debt Facility With Macquarie Bank

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2 Jul 2013 08:24

Tuesday broker round-up UPDATE

Amara Mining: Westhouse Securities raises target price from 60p to 90p and stays with its buy recommendation. Canaccord Genuity lowers target price from 50p to 40p maintaining its buy recommendation. Anite Group: Panmure Gordon shifts target price from 171p to 177p and reiterates a buy recommendati

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24 May 2013 15:36

Hikma Pharmaceuticals shrinks stake

Said Darwazah, the Chief Executive Officer of Hikma Pharmaceuticals, has reduced his stake in the FTSE 250 company, it was announced after Thursday's close. The director, who was the Minister of Health for the Hashemite Kingdom of Jordan from 2003 to 2006, sold 188,445 shares over a period of six d

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26 Apr 2013 15:09

Advanced Oncotherapy CEO makes triple purchase

The Chief Executive of Advanced Oncotherapy, a provider of new technology for innovative and patient-focused cancer treatments, has this week purchased three lots of shares in the group, taking his stake to just under 69.4m shares. On Thursday Sinclair purchased one round of 8.075m shares at 1.59p

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24 Apr 2013 16:03

Persimmon Chairman adds 10,000 shares

The Chairman of FTSE 250 house builder Persimmon has purchased 10,000 ordinary shares one week after the firm accelerated its planned dividend payment strategy. Nicholas Wrigley, who bought the shares at an average price of 1,069p for a total of £106,900, now holds 36,000 shares in the company.

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22 Apr 2013 16:30

InterContinental Hotels director sells 70,000 shares

InterContinental Hotels' President of the Americas has sold 70,000 shares on Monday, reducing his stake to 388,330 shares. The shares were sold for 1,858.95p each for a total of £1.3m. The transaction comes just a few weeks after the company agreed to sell the leasehold interest at its London P

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11 Apr 2013 16:13

Low & Bonar CEO and Finance Director trade in shares from LTIP

Steve Good, the Group Chief Executive of materials group Low & Bonar, has sold a significant portion of the 1.4m shares that recently vested under the company's long-term incentive plan. Of these, he sold 908,676, taking his total stake in the company to 919,098. Mike Holt, the group's Finance Di

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25 Mar 2013 15:55

Another big purchase for Intu Deputy Chairman

John Whittaker has made yet another big purchase in property company Intu, this time buying 195,000 shares at 329.20p. The £641,940 purchase takes his stake in the group to 20.02%, equal to 191.13m shares. Whittaker, who joined the board after selling Intu the well-known Trafford Centre shopping

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22 Mar 2013 16:16

Incoming Chairman at Rolls-Royce buys first round of shares

Ian Davis, the soon-to-be Chairman of Rolls Royce, has purchased his first shares in the company since being appointed to the board at the beginning of March. Davis, who has served on the boards of BP, Johnson & Johnson and McKinsey & Company, bought 5,000 shares at 1,110p at a total cost of £55,5

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21 Mar 2013 15:38

Intu Properties Deputy Chairman continues to build stake

John Whittaker, the Deputy Chairman of Intu Properties, has continued to show his support for the company after it was relegated to the FTSE 250 by boosting his stake in the group to 20 per cent. In two separate transactions the well-known property mogul purchased 600,000 shares worth £1.98m and t

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19 Mar 2013 15:59

Bwin.party non-exec makes double purchase

bwin.party digital entertainment announced Tuesday that one of its Non-Executive Directors has made two purchases following a report by the company admitting profits had suffered a sharp decline. Geoff Baldwin on Friday purchased 226,000 shares at 147.83p, followed by a further 74,000 on Monday at

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13 Mar 2013 16:21

John Whittaker increases stake in Intu

The Deputy Chairman of Intu (formerly Capital Shopping Centres), John Whittaker, has boosted his stake in the group by 60,000 shares two weeks after the company posted a stable set of full year results. Whittaker, who joined the board after selling the well-known Trafford Centre shopping mall to C

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13 Mar 2013 09:19

Pure Circle unveils sweet half-year results

PureCircle posted an 80 per cent increase in half-year sales Wednesday, driven by demand for the company's high purity stevia sweeteners and natural flavours. Sales for the last half of 2012 came to $27.4m, compared to $15.2m in the previous six-month period. Stevia sweeteners and natural flavour

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7 Jan 2013 13:03

PureCircle indicates that first half sales will rise 80 per cent

PureCircle, which produces sweetener products derived from stevia, has said that sales during the first half are expected to be 80 per cent higher than those seen in the same period of the previous year. The firm has put forward a figure of $27.3m, $26m of which are expected to be high purity ste

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26 Nov 2012 16:08

Associated British Foods directors sell newly vested shares

The Chief Executive and the Finance Director at Associated British Foods each sold a portion of newly vested shares on Friday. CEO George Weston sold 65,533 shares at 1,442.65p a time, earning him a total of £945,412, while Finance Director John Bason sold 64,373 at the same price for a total of £

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