Sirius Minerals Share News (SXX)

LONDON (Alliance News) - Weak manufacturing data from China overnight hit London-listed miners on Tuesday, causing the FTSE 100 to tumble. The FTSE 100 index closed down 22.44 points, or 0.3%, at 7,418.22. The FTSE 250 ended down 86.39 points, or 0.4%, at 19,824.81, and the AIM All-Share closed down 1.57 points, or 0.2%, at 968.90.The Cboe UK 100 ended down 0.4% at 12,579.12, the Cboe UK 250 closed down 0.4% at 17,757.45, while the Cboe Small Companies ended up 0.4% at 11,702.85."Data of a mixed nature has been pouring in for investors to digest," said Fiona Cincotta at City Index. "Disappointing figures from Google and Samsung and weaker than forecast Chinese manufacturing PMI data overnight have cast a shadow over the markets on Tuesday. "Released overnight, data from IHS Markit showed manufacturing output in China slowed in April. The headline seasonally adjusted Caixin Purchasing Managers' Index decreased to 50.2 in April from 50.8 in March.The data saw blue-chip miners end Tuesday's session lower, with Glencore tumbling 2.6%, Antofagasta down 2.5% and Anglo American down 1.6%. Glencore on Tuesday also cut its copper and nickel output guidance for 2019. The worst performer in the FTSE 100, however, was hospitality firm Whitbread, slumping 6.2%. Whitbread's pretax profit for the 12 months ended February 28 was GBP260 million, down 39% year-on-year, though the figure climbed 1.2% on an underlying basis to GBP438 million. The 39% fall was driven by GBP178 million of extra costs, including GBP108 million related to the sale of Costa Coffee.Whitbread sold off coffee chain Costa last summer for an enterprise value of GBP3.90 billion, leaving it with the Premier Inn hotel chain as well as the Brewers Fayre and Beefeater restaurants.Chief Executive Alison Brittain said softness experienced in the fourth quarter has continued into March and April, but cautioned it is too early to say how this will unfold moving forward.Standard Chartered was the stand-out performer in the index, rising 4.6% as the emerging markets-focused lender said it would return USD1 billion to shareholders. For the three months ended March, pretax profit rose 4.2% to USD1.24 billion from USD1.19 billion the year prior. This was despite operating income dipping 1.6% to USD3.81 billion from USD3.87 billion the year before.Standard Chartered made the move to buy back up to USD1.00 billion worth of shares after the resolution of legacy issues - having agreed earlier in April to pay USD1.1 billion in penalties to regulatory authorities in the US and UK relating to historical sanctions compliance and financial crime controls.BP was also greeted by a warm reception to its first-quarter results, gaining 1.2%.Replacement cost profit, BP's preferred metric, fell 12% to USD2.10 billion from USD2.39 billion the same period the year before and USD2.72 billion the previous quarter. Production during the quarter averaged 3.8 million barrels a day of oil equivalent, rising 2.4% year-on-year.BP increased its first-quarter dividend by 2.5% on the year before, paying out 10.25 US cents to shareholders.In the FTSE 250, Sirius Minerals slumped 20% to 17.42 pence as it revealed a major new financing package worth USD3.8 billion for the development of its Woodsmith mine in Yorkshire.The financing represents part two of the financing plan for the polyhalite mine, which will supply fertiliser once up and running, and is made up of four parts.The first is a firm placing, a placing, and open offer worth USD400 million, with shares to be placed at between 15p and 18p per share, launching immediately.Pub operator Greene King dipped 7.5% as it said it expects annual profit to edge just slightly higher than the year before. Greene King expects profit before tax and exceptional items for its recently-ended financial year to be in the range of GBP244 million and GBP247 million. In the year before, adjusted pretax profit was GBP243.0 million."Given the weather was hampering efforts last year, it's unfortunate trading hasn't been spectacular while the elements are in its favour," said Sophie Lund-Yates, analyst at Hargreaves Lansdown."Investors are making sure it's known that good isn't necessarily going to be good enough, Greene King will need to follow up this set of results with a string of more positive numbers if we're to believe it's out of the woods," Lund-Yates added.Over in New York, stocks were lower at the London equities close, with the Dow Jones down 0.5%, the S&P 500 index down 0.6%, and the Nasdaq Composite tumbling 1.3%.Causing the Nasdaq to oast more severe declines was a 8.5% drop for Google parent Alphabet after a disappointing set of quarterly results which were released late Monday. Alphabet reported first-quarter profit of USD6.66 billion, or USD9.50 per share, compared with profit of USD9.40 billion or USD13.33 per share last year. Revenue for the quarter jumped 17% to USD36.34 billion from USD31.15 billion last year. Analysts had a consensus revenue estimate of USD37.34 billion for the quarter.Released before Tuesday's open, drugmaker Pfizer reported a 9% rise in first-quarter profit. The US pharmaceutical company's bottom line totalled USD3.88 billion, or USD0.68 per share. This compares with USD3.56 billion, or USD0.59 per share, in last year's first quarter. The company's revenue for the quarter rose 1.6% to USD13.12 billion from USD12.91 billion last year.Pfizer shares were up 2.4% in early trade in New York. After the close are eagerly awaited results from iPhone maker Apple.In European equities on Tuesday, the CAC 40 in Paris ended up 0.1%, while the DAX 30 in Frankfurt closed 0.1% higher.The euro stood at USD1.1206 at the European equities close Tuesday, against USD1.1166 at the same time on Monday.Meanwhile, pound rose to be quoted at USD1.3029 at the London equities close Tuesday, compared to USD1.2921 at the close on Monday."GBP/USD has pushed higher as the broader dip in the US dollar is propping up the pound," said David Madden at CMC Markets. "A spokesman for UK Prime Minster May said that talks with the Labour Party have been constructive, and no end date for the talks were laid out." In commodities, Brent oil was quoted at USD72.10 a barrel at the London equities close Tuesday, slightly higher compared to USD71.98 late Monday.Gold was quoted at USD1,283.68 an ounce at the London equities close Tuesday, up against USD1,279.41 at the close on Monday.In the UK corporate calendar, there are annual results from grocery J Sainsbury and first-quarter earnings from clothing retailer Next, London Stock Exchange Group, drugmaker Indivior and Metro Bank. Housebuilder Persimmon releases a trading statement. In the afternoon, at 1200 BST, are first-quarter results from pharmaceutical firm GlaxoSmithKline. On Wednesday, markets in China, German, Italy, Spain and France are closed for the Labour Day holiday. Japan is closed for Accession Day.In the UK, Nationwide housing prices are at 0700 BST followed by a manufacturing PMI at 0930 BST. In the US, ADP employment change is at 1315 BST, a precusor to Friday's closely-watched nonfarm payrolls. Then, at 1500 BST, is the ISM manufacturing PMI. Headlining the day, however, is the US Federal Reserve's latest monetary policy decision, due at 1900 BST and followed by a press conference with Fed Chair Jerome Powell at 1930 BST. "The policy statement and the post-meeting press conference with Chair Jerome Powell are likely to strike an exceptionally dovish tone," said Capital Economics.Capital Economics added: "The much-stronger than expected first quarter GDP figures and the rebound in underlying consumption and investment growth are positives, but the survey evidence has softened. And arguably the bigger concern for the Fed is the renewed weakness in core inflation."