- FTSE indices closed on the front foot with the mid-cap index retaining gains above the psychological 17,000 level. Wall St was mildly ahead, as were key European stocks ladders. Resources provided cue, along with financials, supermarkets and pharmas.

At the close, FTSE 100 was up 41.34 points, or 0.65%, to 6416.16. FTSE 250 rose 82.11, or 0.48%, to 17,085.9. At 4.39pm, gold and copper were at $1158/oz and $241/lb. Three-month industrial metals futures lost 1% or more. Crude oil was mixed.

Anglo American (AAL) stole to the top of the blue-chip leaders' ladder with a 7.23% rise to 726.5p. Glencore (GLEN), up 7% to 129.1p, is slashing zinc metal mine output in Australia, South America and Kazakhstan by 500,000 tonnes to preserve the value of its in-ground reserves. Several sector pals also rose.

Among financials, bank Standard Chartered (STAN) added 5.08% to 786.7p, while insurer Admiral (ADM) sortied up 2.29% to 1565p. Oil stocks were rising, albeit off the miners' pace, with BG (BG.) making 0.92% to 1093p. Morrisons (MRW) captained supermarkets with its surge of 1.8% to 180.9p. Tesco (TSCO) added 1.51% to 204.8p.

Roughly 60 blue chips made headway. SABMiller (SAB), which has rejected Anheuser-Busch InBev's £65bn takeover bid, rose 0.76% to 3668.5p as it more than doubled its cost-savings target to 'at least' $1.05bn by 2020. Diageo (DGE) and Coca-Cola HBC (CCH) were also ahead. Among pharmas Glaxosmithkline (GSK) led the pack.

High-street retail, house builders and utilities dominated to the downside. Sports Direct fell 6.635 to 690p, with Dixons Carphone (DC.) shedding 1.46% to 432.8p. Persimmon (PSN) fell 2.84% to 1947p, while National Grid (NG.) tapered 2.27% to 913.45p. Leisure stocks TUI AG (TUI) and Carnival (CCL) also softened.


Adgorithms (ADGO) dived 61.11% to 49p as it warned FY earnings would be 'materially below expectations' due to severe disruption in the online advertising market. Botswana Diamonds (BOD) jumped 14.48% to 0.83p after securing a new prospecting licence in Botswana.

Argo Group (ARGO), up 33.33% to 9.5p, said certain funds it manages have reached an agreement for the sale of a significant investment they hold in Indonesia. The disposal would allow the Funds to pay outstanding management fees of $5.8m owed to ARGO. PeerTV (PTV) rose 60% to 0.02p on CSS Alpha Fund Ltd has acquiring 153.7m shares, or 10.6% of voting rights.

Renewable Energy Generation (WIND), up 30.87% to 48.75p, has received a non-binding approach for its trading subsidiaries, representing the business, assets and undertakings of REG. The approach was not an offer to acquire the ordinary share capital of REG. SeaEnergy (SEA) rose 26.09% to 7.25p in late trade, but its directors said they were unaware of the reason.


Stateside, wholesale inventories for August fell to $445.4bn, down 1.0% from the revised July level and 4.7% lower on the year, US Department of Commerce said. Meantime, prices for imports fell 0.1% in September, from a 1.6% tumble in August, US Bureau of Labor Statistics said. The continued downward trend in non-fuel import prices more than offset an advance in fuel prices.

UK's trade deficit came in at £11.1bn in August, Office for National Statistics data showed, against predictions for a deficit of £10.0bn and from a July deficit of £11.1bn. Meantime, UK construction output fell by a monthly 4.3% in August, ONS said, from a fall of 1% previously and against expectations for 1.1% growth.


Iofina (IOF) gained 12.68% to 20p on stating it was on track to deliver its production guidance for H2. In Q3, it produced 143.6 tonnes of iodine, up nearly 89% on the year and taking to-date output to 437.7 tonnes. Phorm (PHRM), up 14.29% to 5p, said Boston Globe Media is implementing its targeted advertising technology on its digital properties.

Vedanta Resources (VED) added 11.51% to 591p on cost-saving news within the business. Ferrexpo (FXPO) gained 7.89% to 41p after appointing an advisor to help with debt negotiations. It may have to write-off $174m cash held with Ukrainian bank F&C, which has been shut down.

Petrofac (PFC) added 10.64% to 949.25p as the market welcomed news it had canned a contract with Shanghai Zhenhua Industries Company to build a new offshore services vessel. It cited the latter's performance.

Golden Saint Resources (GSR), down 9.09% to 0.05p, intends to raise up to £250,000 via the issue of 8% transferable convertible loan notes. The notes are convertible to ordinary shares at a discount of 20% to the average closing price per share during the 10 trading days immediately prior to the date of conversion.

Physiomics (PYC), up 4.76% to 0.06p, has extended a Virtual Tumour project with a major global pharmaceutical company. Avacta (AVCT), up 1.79% to 1.43p, said its collaborator ProtATonce has demonstrated robust performance of Affimers on the Luminex platform.

Other stocks in the news included Ladbrokes (LAD), Charlemagne Capital (CCAP), Northcote (NCT), Custodian REIT (CREI), blinkx (BLNX), President Energy (PPC), Iofina (IOF), Ocean Wilson (OCN) and Avon Rubber (AVON).

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