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Sector movers: Supermarkets and food retailers nudge London market higher

Wed, 10th Jun 2015 15:57

Healthy trading in supermarket and food related stocks led the London market back into the green on Wednesday.The blue chip FTSE 100 closed up by 1.13% or 76.47 points at 6,830.27 points having been greeted by positive news from supermarkets. Market leader Tesco (up 4.63%) saw its shares surge on reports it has invited at least six firms including KKR and Carlyle Group to bid for its South Korean unit Homeplus, which is valued at about $6bn.According to people familiar with the matter cited by Reuters, London-based CVC Capital Partners, Hong Kong-based Affinity Equity Partners and Asia-focused MBK Partners were also invited to bid.Additionally, rival Sainsbury's (up 0.62%) made modest gains, as its first quarter sales came in slightly better than expected. The 2.1% fall in like-for-like sales for the 12 weeks to 6 June, excluding fuel, beat analysts' expectations for a 2.3% decline.The positivity fed through to the wider market with Morrisons (up 4.96%), along with other retailers Associated British Foods (up 5.35%), Ocado (up 5.69%) and Home Retail (up 5.63%) all trading higher.Mining and materials stocks reversed some, if not all, of the losses they incurred as the base metals markets, excepting tin (down 0.3%), generally saw improved trading on the London Metal Exchange.Anglo American (up 2.50%), Antofagasta (up 1.31%), BHP Billiton (up 2.55%), Fresnillo (up 3.15%), Glencore (up 1.82%) and Vedanta (up 4.10%) led the recovery, even though iron ore related mining stocks continued to suffer. Acacia Mining (up 4.58%) was the top FTSE 250 riser in the segment, ending the session up 13.50p or 4.58% at 308.20p.Finally, small cap Amur Minerals provided also provided a footnote. Following the issue of its production licence for the Kun Manie nickel copper sulphide deposit, the company's shares closed up 1.75p or 5.98% at 31p.Top five sectorsFood & Drug Retailers 3,101.31 +132.81 +4.47%Food Producers 8,015.55 +266.95 +3.45% Construction & Materials 4,941.27 +101.73 +2.10%Mining 13,752.97 +281.21 +2.09% Household Goods & Home Construction 15,210.42 +272.75 +1.83%
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22 May 2015 14:25

Amur Minerals soars on Kun Manie production license approval

Shares in exploration and development company Amur Minerals rose a whopping 76% on Friday after the company said that Russian Prime Minister Dmitry Medvedev has approved its production license for the Kun Manie nickel-copper sulphide deposit in far eastern Russia. Amur holds 100% of the rights and w

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22 May 2015 11:00

LONDON MIDDAY BRIEFING: FTSE 100 Female CEOs To Rise To Six

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22 May 2015 10:25

WINNERS & LOSERS: Severn Trent Sinks As Pretax Profit Drains Away

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22 May 2015 09:26

Amur Minerals Gets Kun-Manie Production License After Ten Year Wait

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7 May 2015 09:14

Amur Obtains Water Allotment Next To Kun-Manie Site In Russia

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16 Apr 2015 10:56

Amur Says Owner-Operated Smelter Could Increase Earnings At Kun-Manie

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9 Apr 2015 10:27

Amur Sees Portion Of Mineral Resource Upgraded To Indicated Category

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30 Mar 2015 09:24

Amur Minerals Says Kun-Manie Could Sustain 15-Year Mine Operation

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19 Mar 2015 12:04

UK MIDDAY BRIEFING: Next Grows Again, But Hit By Guidance Cut,

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19 Mar 2015 11:44

UK WINNERS & LOSERS: Next Shares Fall On "Surprising" Guidance Cut

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19 Mar 2015 10:12

Amur soars after study shows increased inferred estimate for its Russian project

Shares in mining group Amur Minerals jumped on Thursday, after the company reported that a pit study on its Kun-Manie nickel-copper-sulphide project in Russia had unveiled a potential 70% increase to the target inferred resources. The miner said the survey had revealed successful in-fill drilling at

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19 Mar 2015 09:16

Amur Minerals Says Study Increases Inferred Estimate For Kun-Manie

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27 Feb 2015 10:30

Amur Minerals Capable Of 6,000 Metre Drilling Programme In 2015

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20 Feb 2015 09:49

Amur Minerals Says CEO Gets Support For Kun-Manie From Local Governor

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8 Dec 2014 10:45

Amur Minerals' Kun-Mane approval progresses to final stage

Nickel-copper exploration company Amur Minerals Corporation said that its mining licence application for the Kun-Manie prospect in eastern Russia has progressed to the final stage. The licence application has now been forwarded to Russian Prime Minister Dmitry Medvedev. Once approved, the firm will

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