Flat finish for FTSE 100 as Fresnillo finds its way to the top


(MENAFN- ProactiveInvestors)

Fresnillo (LON:FRES) finished 5% higher and in first place on the FTSE 100 although London’s benchmark share gauge was largely unchanged. 

At 6968 the equity index climbed just 8 points from Friday’s close with the blue chip benchmark in and out of the red during the session amid growing concerns about the future of cash-strapped Greece. 

Aside from concerns over Greek debt the economic calendar was sparse and movement was largely muted among most UK shares. There was some good news among individual names though.

Mexican silver miner FRES sat at the top of the index boosted by further cost efficiencies that have helped to counter ongoing weakness in metals prices.

Babcock (LON:BAB) ended the day around 3% higher after news that its order book had hit a record £20bn with other parts of the business doing a sterling job of picking up the slack in its oil and engineering business.

Shares in Marks & Spencer (LON:MKS) advanced on speculation that it is set to ring up its first rise in annual profits in four years on Wednesday.

Royal Mail’s (LON:RMG) share price rose over 3% after Investec moved from 'reduce' to 'buy' on the stock ahead of the company’s annual figures this Thursday.

At the other end the big faller of the day was BHP Billiton (LON:BLT) down 5% to 1436p. 

Shares lost value as spin-off of its South32 business raised US$9bn which was at the lower end of estimates.

Among the mid-caps shares of Aveva (LON:AVEVA) soared to close almost 10% higher on reports from the Sunday Times newspaper of a possible takeover for the company.

Bwin.party (LON:BPTY) shares finished the day 8.6% higher after it confirmed it has received its second takeover approach in four days.  888 Holdings (LON:888) has made a bid for the company.

Meanwhile satellite group Inmarsat (LON:ISAT) warned on profits as it faced more delays on a flagship satellite programme after the burn-up of a rocket designed to take the technology into space. Shares eased 2.8% to 967p.

In small caps Sirius Minerals (LON:SXX) unveiled further positive findings from its on-going global crop study into the use of its polyhalite product. Shares jumped 10% to 18.8p.

Proxama (LON:PROX) has won an exclusive contract with Eye Airports the largest owner of airport advertising space in the UK. Shares ended the day 11% up on Friday’s close at 1.65p. 

TomCo Energy (LON:TOM) was dealt a blow when Questerre Energy Corporation announced it has delayed the commercialisation of EcoShale technology that Tomco had hoped to use by two years. 

Shares dropped 26% to 0.14p.

Israel-based spread betting firm Plus 500 (LON:PLUS) shed a third of its value as it  suspended some UK client accounts over money laundering fears.


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