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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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11 Aug 2014 11:18

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11 Aug 2014 08:40

Amur Minerals Makes Progress On Production Licence For Kun-Manie

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14 Jul 2014 08:20

Amur Minerals Upgrades Certificate Of Discovery At Kun Manie

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30 Jun 2014 16:48

Amur Minerals says no drilling at Russian nickel pit without licence

Amur Minerals reported progress on a nickel copper sulphide project in the Russian Far East, but said there would be no drilling this season unless it secures a mining licence. The group said drilling had found a fifth deposit that would substantially increase resources at its Kun-Marie scheme. It

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30 Jun 2014 12:15

Amur Minerals Pretax Loss Narrows On Mixed Costs

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30 Jun 2014 12:05

UK MIDDAY BRIEFING: BAE Systems Deepens Saudi Partnership

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30 Jun 2014 11:20

UK WINNERS & LOSERS: Gowin New Energy Doubles As China Goes Green

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19 Jun 2014 10:54

Amur Minerals Clears Next Step In Russia Mining Licence Application

LONDON (Alliance News) - Amur Minerals Corp said Thursday that it has cleared the next step of advancing its mining application for its Kun Manie project in far east Russia through the Russian licence system. The company has received a protocol confirming that the exploration phase of the p

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3 Jun 2014 16:14

Amur hails Russia's removal of metal export tax

Russia has announced the removal of export taxes on nickel and copper, which AIM-listed Amur Minerals says could save it around $230m. Amur, which is focused on exploration and development of base metal projects in the far east of Russia, noted that the Russian Federation eliminated the 5% export t

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3 Jun 2014 10:30

UK WINNERS & LOSERS: Wolseley Stands Out From Negative FTSE 100

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.
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FTSE 100 - WINNERS
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Wolseley, up 2.7%. The plumbing and heating products distributor is one of ju

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3 Jun 2014 09:38

Amur Minerals Could Net USD230 Million On Russian Export Tax Removal

LONDON (Alliance News) - Amur Minerals Corp said Tuesday the recent decision by the Russian Federation to remove export taxes on intermediate-product nickel and copper could net it as much as USD230 million over its current life-of-mine cycle. The nickel copper exploration company focused i

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24 Mar 2014 13:15

UK MIDDAY BRIEFING: Centamin Soars As Production Beats Expectations

LONDON (Alliance News) - Metals and minerals producer Centamin is leading the FTSE 250 index Monday despite reporting a hit to pretax profit in 2013, due to a large exceptional cost, but a significant increase in revenue and production.

Centamin said pretax profit f

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24 Mar 2014 12:15

UK WINNERS & LOSERS: Barratt Falls On Return To FTSE 100, Downgrade

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.

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FTSE 100 - LOSERS

Barratt Developments, down 2.1%. Following the quarterly FTSE review on Ma

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24 Mar 2014 10:48

Amur Minerals Completes Winter Ice Road Construction

LONDON (Alliance News) - Amur Minerals Corp Monday said it has completed construction of its 2014 winter ice road from the Baikal-Amur rail siding to its Kun-Manie project. The Russia-focused nickel-copper sulphide mineral exploration-and-development company said a total of five convoys wil

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