(MENAFN- ProactiveInvestors - UK) London shares plunged on Tuesday amid falling oil prices and EU referendum jitters, but Premier Farnell PLC (LON:PFL) jumped after a takeover bid.
The FTSE 100 Index was 78 points adrift at 5967 by lunchtime while the FTSE AIM 100 was 71 points off and the FTSE AIM All-Share retreated 13.2 points.
Miners and commodity stocks fell as the price of a barrel of Brent crude fell 1.4% to US$49.66, with Anglo American PLC (LON:AAL) leading the way, down 3.5% at 613.5p.
The pound remained under pressure as latest polls showed a shift towards the Leave campaign, although one phone survey from pollster ORB gave Remain a five-point lead.
Shares in electronics distributor Premier Farnell plc (LON:PFL) shot up by half after it agreed a 615mln takeover by Swiss electro-mechanical engineering group Daetwyler AG (SWX:DAE).
The stock rose 54.85p, or 50.2%, to 164.1p as Daetwyler announced a recommended cash offer of 165p per share, giving it an enterprise value - which includes debt - of 792mln.
Premier Farnell had faced tough trading and brokers have speculated about a merger with rivalElectrocomponents PLC (LON:ECM), whose shares rose before falling 5.4% to 262.2p.
In small-cap world, Versarien PLC (LON:VRS) jumped 2% to 13p as the advanced engineering materials group did a deal with Absolute Engineering Ltd to develop graphene-enhanced composites for the printing industry.
Investors tuned into MTI Wireless (LON:MWE) by 3.2% to 20p after the high-tech antenna maker won a US$1.8mln contract from an unidentified new European customer.
Roxi Petroleum Plc (LON:RXP) spurted 3% to 10.55p as the Central Asian oil and gas company with a focus on Kazakhstan said non-executive director Edmund Limerick increased his stake to 0.12%.
But Metminco Limited (LON:MNC) subsided 35.1% to 0.18p on news that it had agreed an equity investment of up to US$45mln relating to the Los Calatos copper project in southern Peru.
Back among bigger stocks, bus and train operator Go-Ahead Group PLC (LON:GOG) ran out of steam by 15.7% to 2050p as it warned that profit margins for the rest of its Govia Thameslink Rail franchise would be half those previously expected.
And Ashtead Group PLC (LON:AHT) ticked up 2% to 976p as it revealed a 17% rise in group rental revenue and a 24% increase in underlying pre-tax profit to 645mln at constant exchange rates.
The plant hire group''s full-year results also revealed a healthy 48% bump in the full-year pay-out and the commencement of a 200mln share buyback programme.
Preview
London''s FTSE 100 is expected to start lower again on Tuesday as sentiment remains heavy on global equities, amid concerns for global growth and outside pressures.
Weakening sterling, downward pressure on bond yields and uncertainty over the upcoming European Union referendum continue to be factors.
Global equities continue to play pass the parcel with negative sentiment.
Last night, Wall Street''s Dow Jones shed 132 points, 0.74%, to close at 17,732 while the S & P 500 ended 0.81% lower. The Nasdaq meanwhile dropped 0.94% to 4,848.
In Asia, Japan''s Nikkei fell 1.43% to 15,790.
Hong Kong''s Hang Seng was slightly lower, and the Shanghai Composite was basically flat.
Australia''s ASX 200 lost 1.87% to 5,213.
In the commodities market crude oil''s rally has stalled, with both Brent and WTI futures dropping back below US$50 per barrel. Gold, meanwhile, was priced at around US$1,280 per ounce.
London''s equities are expected to be lower. IG Markets this morning is calling the FTSE 100 around 20 points lower, with the blue-chip benchmark priced by the CFD and spread betting firm at 6,033 to 6,039 about an hour before the stock market opens.
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