FTSE 100 edges higher as miners rally


(MENAFN- ProactiveInvestors) London’s top share index held onto early gains as resource stocks climbed higher.

Despite most commodity prices continuing to fall miners rebounded with Antofagasta (LON:ANTO) the star performer up 27p to 760p.

Gold held around the US$1200 mark overnight which seemed to help Randgold Resources (LON:RRS) up 20p to 4506.

BHP Billiton (BLT) shares were also doing well up 17p to 1614p while Rio Rinto (LON:RIO) added to the gains with a 27p share price rise.

Overall the FTSE100 was 11 points higher at 6742 a rise of 0.17%.

A barrage of US economic data will keep traders busy as tomorrow’s Thanksgiving bank holiday sees Thursday’s unemployment claims figures moved to today.

In London the top Footsie faller was TUI travel (LON:TT.) which suffered after shares in its mid-cap peer Thomas Cook (LON:TCG) plunged 20%.

Thomas Cook warned growth in the coming year would be slower due to tougher trading conditions. 

Meanwhile Harriet Green the firm’s chief executive said she is resigning. 

Building materials firm Wolseley (LON:WOS) was flat at 3566p after revenues rose 10% and trading profit is meeting expectations.

Catering firm Compass Group (LON:CPG) served up a 5.4% rise in pre-tax profits spurred by sales growth from its North American and emerging markets operations. Shares gained 2p to 1076p.

BT (LON:BTG) followed up yesterday’s gains by adding 4p to 399p as talks continue around its planned purchase of O2 and EE.

Elsewhere on the AIM market Kalimantan (LON:KLG) added 56% after it signed a letter of intent with Australian firm Tigers to purchase an interest in an Indonesian copper-gold project.

WANdisco (LSE: WAND) jumped 12% to 362p as it signed up a new big data customer to use its customer transaction analysis.

Motive Television (LON:MTV) was in the ascendancy as it reached a deal to purchase the remaining 32% of its Spanish subsidiary for £480000. 

The deal brings an end to a two-year legal battle with CCAN which wanted to sell the stake to Motive for €2.1mln

Insetco (LON:INC) shares rocketed 150% to 0.19p after it signed a deal with Quantus Income Opportunities and Melken Group to provide services for their joint  portfolio of life settlement policies.

Security Research Group (LON:SRG) shares plunged 29% to 42p as it announced plans to cancel its AIM listing.

A half-year report from Anglesey Mining didn’t sit well with investors as shares dropped 17%.

Associate Labrador Iron Mines is struggling in the harsh price environment and Anglesey reported a £879000 loss for the period.

Shares in Findel (LON:FDL) the home shopping and education firm lost 32p to 205p despite the Manchester-based business reporting its first interim profit in six years.

 


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