- FTSE indices closed down more than 1% as investors mauled resources stocks, along with numerous other sectors. The closing levels followed a mixed start to Wall St and were aggravated by on-going Ebola virus fears and global macro concerns.

At the close, the FTSE 100 was down 91.88 points, or 1.43%, to 6339.97. FTSE 250 fell 169.75 points, or 1.15%, to 14,641.6. Both were plumbing nadirs of at least 12 months. World macro concerns were piqued when the IMF cut its 2015 global growth outlook earlier this week to 3.8%, from 4% in July.

Tullow Oil (TLW) fell 7.88% to 526p to lead the oil issues down after confirming its Sputnik-1 well, Gabon, had hit non-commercial hydrocarbon pay. Wood Group (WG.), down 4.12% to 663.5p, and Cairn Energy (CNE), down 3.52% to 167.2p, suffered as oil prices fell.

FTSE 350 indices for oil and gas producers and oil equipment services and distribution were down, respectively, 2.42% and 3%. The FTSE 350 mining index dumped 2.9%, while the index's industrial metals sector plummeted 2.7%.

Among the metals burrowers Antofagasta (ANTO) fell 3.57% to 661.5p, while BHP Billiton (BLT) shed 3.12% to 1613.5p. But it was Vedanta (VED) that piloted sector fallers by losing 7.88% to 526p on disappointing H1 production numbers. Meantime, insurers softened, as did big-ticket banks, supermarkets and pharma stocks.


London Mining (LOND) soared 203.23% to 4.7p. Its shares have been suspended. It said the only strategic investors now in the offing were those whose proposals are not expected to contemplate the continuation of the company as a going concern. Separately, Reuters reported that Indian steelmaker JSW Steel is nearing a deal to buy the iron-ore miner.

Holders Technology (HDT), down 20% to 40p, has warned there might be a material impact on next year's performance after a major PCB supplier told the company it would be terminating the distribution agreement between them on terms to be agreed.

Molins (MLIN) fell 18.56% to 107.5p after it said it expected FY pretax profits to be below current market forecasts.

Mothercare Plc (MTC) fell 24.56% to 170.5p on announcing the 79.9m shares from its 50p apiece rights issue would be admitted to London Stock Exchange today.


Stateside, prices for US imports fell 0.5% in September, after falling 0.6% in August and 0.3% in July, the US Bureau of Labor Statistics reported today. The fall was anticipated.

Back in Blighty, UK's trade balance for August narrowed to a deficit of £9.099bn. A deficit of £9.6bn was anticipated. Exports fell more sharply than imports. Meantime, UK construction output fell 3.9% in August, after July's upwardly revised 1.9%, ONS data showed.

France's industrial production was flat on the month in August, after a July's 0.3% rise. A drop of 0.3% was expected. Italy's industrial production rose a seasonally adjusted 0.3% in August, from July's fall of 1%. A rise of 0.6% was expected.


Telco networks and software supplier Gamma Communications (GAMA) got off to a flyer as the market traded the shares from their 187p listing price to 211p on the first day of trade.

Speciality chemicals business Carclo (CAR) plunged 15.49% to 95.5p as H1 trading failed to impress. It has started full strategic review of its underperforming CIT Technology business.

Oxford BioMedica (OXB), up 8.28% to 4.25p, said Novartis would pay $14m upfront for a non-exclusive worldwide development and commercialisation licence in oncology under the group's LentiVector platform.

Telecom Plus (TEP), up 6.81% to 1341.5p, sees H1 adjusted pretax profit and EPS significantly ahead on the year. The board is comfortable with the FY year market view that adjusted pretax profit will rise almost 50% to £63m. It is to hike its interim dividend 19% to 19p a share.

Investors seem doubtful that bluetooth chip's designer CSR (CSR) will seal a possible merger with US peer Microchip Technology, the shares down 6.35% to 671p on no new news. Shares in CSR have rallied roughly a quarter since the US firm's interest was confirmed in August.

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