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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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Amur Minerals Completes Ice-Road Restock Of Kun Manie In Russian East

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5 Apr 2016 09:22

Amur Minerals Says Kun-Manie Nickel Resource Estimate Upgraded

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21 Mar 2016 10:12

Amur Minerals Completes Winter Ice Road Construction For Kun-Manie

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17 Mar 2016 10:46

Amur Minerals Issues Shares Under Crede CG Subscription Agreement (ALLISS)

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4 Mar 2016 08:45

Amur Minerals Signs Heads Of Term With Russian Government Fund

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4 Feb 2016 15:50

Small caps news round-up

(ShareCast News) - Forbidden Technologies was celebrating its first contract win for its social video platform on Thursday, after a number of proof-of-concept trials. The AIM-traded technology firm's 'eva' platform described itself as "the real video social network", and allows users to create profi

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4 Feb 2016 11:35

Amur Minerals moving rapidly at Kun-Manie

(ShareCast News) - Amur Minerals' programme to rapidly advance its Kun-Manie nickel copper sulphide project in Russia was moving quickly on Thursday, with the company updating the market on its 2016 Field Programme. The AIM-traded firm said capital purchases and delivery of its newly acquired fleet

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4 Feb 2016 10:10

Amur Minerals To Accelerate Kun Manie Through 2016 Drill Programme

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12 Jan 2016 09:10

Amur Minerals To Update Resource Estimates At Kubuk And MKFL Deposits

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14 Dec 2015 08:05

Amur Minerals Confirms Fundraising Of Up To GBP12.5 Million (ALLISS)

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8 Dec 2015 16:49

Amur Minerals In Talks For Potential GBP12.5 Million Subscription Deal (ALLISS)

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27 Nov 2015 08:38

Amur Minerals Buys Rig And Two Bulldozers For Kun-Manie Project

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5 Nov 2015 16:13

Amur Focuses On Resource Update After Completing Drilling Programme

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27 Oct 2015 09:28

Amur Finds Grades At Flangovy That Match Best Worldwide Operations

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29 Sep 2015 13:15

Amur Minerals Focused On Kun-Manie As It Swings To Interim Profit

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