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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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18 Jun 2010 08:33

Amur Minerals: Kun-Manie Licence Being Reviewed By Russian Agencies

LONDON (Dow Jones)--Amur Minerals Corporation (AMC.LN), an exploration and development company focused on Far East Russia, said Friday its application for a mining licence on the discoveries and surrounding area contained within the nickel sulphide Kun Maine exploration licence that was filed in Jan

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14 Jun 2010 12:22

Small caps round-up: Swallowfield, Perpetual Income & Growth IT

Shares in Swallowfield, a supplier of cosmetics and toiletries to the own label and branded sectors, dropped after the group warned that trading in the second half will be below expectations. Perpetual Income and Growth Investment Trust's shares produced a total return of 31% to shareholders over t

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14 Jun 2010 07:38

Amur Minerals Finds Nickel Sulphide Mineralization At Kun Manie

LONDON (Dow Jones)--Amur Minerals Corporation (AMC.LON), an exploration and development company focused on Far East Russia, announced Monday a nickel sulphide mineralization has been exposed in a road cut located immediately to the south of the Ikenskoe deposit, which is the largest of the three dri

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29 Apr 2010 12:03

Small caps: Amur Minerals, Caledon Resources, Douglasbay...

Miner Amur Minerals shifted higher Thursday after confirming an "exciting" new drill target in Far East Russia - the Gorney target - previously indicated by geochemical sampling. "Results from two wild cat drill holes have defined the potential to expand upon mineral resources at its Kun-Manie nic

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20 Aug 2009 16:28

London close: Blue chips at 10½-month high

A brace of better than expected US data reinvigorated markets early afternoon Thursday, helping London close at it highest since early October. The Philadelphia Fed manufacturing index rose to +4.2 in August from -7.5 in July, while the Conference Board's index of leading economic indicators rose 0

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20 Aug 2009 14:14

London afternoon: Prices bubble over

Equity prices came off the top over the lunch-time session but remain firmly in the blue, albeit in thin trade, largely due to the strength of miners. Mining giant Rio Tinto is higher despite seeing profits falling by more than half in the six months to June 30 as it felt the impact of sharply lowe

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20 Aug 2009 12:10

London midday: Retail sales give a boost

July's retail sales figures have given a lift to an already buoyant equity market. Figures revealed sales grew 0.4% from June, putting the annual increase to 3.3%, the highest since May 2008. Economists had predicted a rise of just 0.2% for July following June's 1.2% gain and a 2.7% year-on-year imp

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20 Aug 2009 08:49

Amur soars on reserves estimate submission

East Russia-focused exploration and development company Amur Minerals pleased shareholders Thursday with details of a reserves estimate that it has submitted for regulatory approval. The total contained metal value for its Maly Krumkon (MK) deposit is $1.8bn, the company said. This figure is based

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