- FTSE indices entrenched losses, closing around multi-week lows, with resources, and retail-related stocks taking a hit as investors scurried for cover on still more US airstrikes in besieged Syria.

At the close, the FTSE 100 was down 66.56 points, or 0.99%, to 6639.71, at levels last seen mid August. FTSE 250 was down 111.7 points, or 0.72%, to 15,425.9. The US-led coalition against insurgency IS targeted refineries in Syria last night; more raids look likely.

Hargreaves Lansdown (HL.) led the financials down, falling 4.2% to 923.5p on news of margin pressure due to increased competition. Investec (INVP) followed. BP (BP.) guided the energy issues lower, itself falling 2.84% to 451.75p.

However, it was miners that acted as deadweight, Anglo American (AAL) leading the burrowers with a 3.7% fall to 1407p. BHP Billiton (BLT) lost 2.87% to 1746p despite saying it would consider London as one of the destinations where its demerged NewCo business would list.

Retail-related outfits continued to suffer in the wake of Tesco-gate. Tesco (TSCO) fell 1.23% to 192.5p, despite Sports Direct International entering a put option for 23m of the grocer's shares. Sainsbury (SBRY) fell 1% to 258p. Consumer goods giant Unilever (ULVR) also eased.


There was lots of red flags in UK Mail's (UKM) trading update, sending the shares down 11.11% to 502.25p. It said H1 results should 'broadly' meet previous expectations, but added markets have become 'challenging' with a drop in parcel volumes.

Surface Transforms (SCE) has signed a 'game changer' pre-production contract with an international aerospace system supplier for the supply of its carbon ceramic brake discs onto a US military aircraft. Its shares soared 35.48% to 10.5p.

Cellcast (CLTV) said H1 interactive broadcast revenues were down year on year as it saw a continued decline in demand for its services. Nevertheless, operating losses improved and it was seeing benefits from cost restructuring. Its shares rose 22.22% to 1.1p.

Inditherm (IDM) plunged 33.33% to 4.25p as it swung to an H1 pretax loss, with overheads increasing while revenues were broadly unchanged. Gross margin fell to 53%, from 61%. Meantime, Close Brothers is to dual list Worthington on the main market of the Frankfurt Stock Exchange. Worthington's shares added 52.94% to 91p.


Stateside, Markit's Flash US Services PMI Business Activity Index was a seasonally adjusted 58.5 in September, down from 59.5 in August. Meantime, in the week to Sept. 30, the advance figure for seasonally adjusted initial jobless claims was 293,000, up 12,000 on the week.

US core durable goods orders rose to a seasonally adjusted 0.7%, from an upwardly revised -0.5% the preceding. Durable goods orders fell to -18.2%, from a downwardly revised 22.5% the month before.

Euro zone data showed the amount of domestic currency in circulation and deposited in banks in the single-currency bloc rose more-than-expected in August. Euro zone M3 Money Supply rose to 2.0%, from 1.8% in July and against market expectations for a print of 1.9%.


Penna Consulting (PNA), up 6.95% to 138.5p, said the enhanced level of trading it referred to at end-July has continued into August and that in the five months to August 2014 net revenue was 23% higher than last year and pretax profits were 80% higher.

Mitchells & Butlers (MAB), down 7.63% to 374.65p, said total FY sales growth was 3.8%, with like-for-like sales increasing by 0.6%. Trading in July improved after the World Cup, but in August it was difficult in the pub market due to consumer caution and rainfall.

Car and motorcycle manual publisher Haynes (HYNS) gained 5.88% to 180p as FY results revealed the benefits of a major restructuring programme. Adjusted pretax profits were up £1m year-on-year to £4.2m once exceptional costs associated with the transformation were stripped out.

Investors focused on takeover bluetooth and wireless chips maker CSR (CSR) and US peer Microchip Technology (MCHP:NDQ). CSR's shares rose 5.01% to 765p as negotiations were allowed an extension by the UK takeover panel. The deadline has been extended to Oct. 15.

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