StockMarketWire.com - FTSE indices were drifting lower in early deals as traders revealed their caution ahead of Bank of England issuing its interest rate and quantitative easing decisions at midday. Resources, financials and some retailers were softer. Wall St ended higher, and Asian bourses lower.

Shortly after the open, FTSE 100 was down 29.29 points, or 0.46%, to 6307.06. FTSE 250 was down 73.53, or 0.43%, to 16957.7, a jot below the psychological level of 17,000. At 8.39am, gold and copper were at $1145/oz and $233/lb. Crude was up less than 0.5%.

Glencore (GLEN) led to the south with a 2.54% slide to 120.85p. Several other China-sensitive miners were not far behind. Anglo American (AAL) faded 1.09% to 657.25p. Among oilies, BP (BP.) lost 0.87% to 383.65p, while utilities were guided down by SSE (SSE), off 0.65% to 1529p.

In the retail space, Kingfisher (KGF) faltered 1.42% to 353.4p and Next (NXT) eased 1.07% to 7642.5p. Financials tapered behind insurer Aviva (AV.), down 2.26% to 471.3p, while Barclays (BARC) guided several banks with its tumble of 0.89% to 253.48p. Tesco (TSCO) lost 0.61% to 195.8p, other supermarkets queuing up behind.

Overall there were almost 60 blue chips lower. Those making headway were captained by Shire (SHP), up 1.25% to 4383p, with others including its sector pals and leisure stocks. Hikma (HIK) added 0.72% to 2172.5p, while TUI AG (TUI) rose 0.74% to 1223p. The market is also looking to ECB monetary policy meeting accounts, and FOMC meeting minutes.

BIGGER MOVERS

Atlantic Coal (ATC) said its unaudited turnover for the nine months to Sept. 30 was about $17.8m, up 26% on the year. Its shares rose 21.43% to 0.17p.

City of London Investment Group (CLIG), down 7.57% to 329.5p, said its funds under management at Sept. 30 totalled $3.6bn, from $4.2bn at June 30. It hoped at least a net $250m of additional FuM should be achievable over the next 6-9 months.

Frontera Resources (FRR), up 6.21% top 0.77p, has reported a significant upgrade to gas resources associated with its ongoing exploration and production efforts in the country of Georgia.

LONDON HIGHLIGHTS

1Spatial (SPA), up 4.16% to 6.38p, has entered into a contract with associate Laser Scan Inc to provide geospatial solutions to a US Federal Government Agency. Tate & Lyle (TATE), down 2.72% to 563.75p, said its H1 trading performance was in line with its expectations and that guidance for the FY remains unchanged.

Dart (DTG), up 3.01% to 479p, expects H1 operating profit to be at least 60% up on the year ago. But it warned of increased losses in H2 due to the expansion of its seasonal leisure travel operations.

Dunelm (DNLM), up 1.65% to 909.75p, said trading was strong during the 13 weeks to Oct. 3, both in-store and on-line, with all categories showing robust performance. Hays (HAS), down 3.08% to 142.95p, reports a good start to its new financial year with all three of its key businesses delivering further growth.

Tullow Oil (TLW), down 1.88% to 237.65p, has reached agreement with the Government of Gabon over its licences in the Onal Complex Fields. It has regained its 7.5% stake, been granted licence extensions to 2034 and gained access to two small oil discoveries in the Ezanga block.

Other stocks in the news included Compagnie de Saint-Gobain (COD), Tandem Group (TND), DFS Furniture (DFS), Victrex (VCT), Flybe (FLYB), Produce Investments (PIL), Galliford Try (GFRD), Target Healthcare REIT Ltd (THRL), Asiamet Resources (ARS), Telit (TCM), Cambridge Cognition (COG), fastjet (FJET), Idox (IDOX) and International Mining & Infrastructure (IMIC).




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