- London equities began the week on a mildly negative note, extending last week's falls as crude prices came under pressure and saw a string of resources and financial stocks southbound. Europe was down, while Asia was mixed. Wall St rose on Friday.

Soon after the open, FTSE 100 was down 3.29 points, or 0.05%, to 6142.76. FTSE 250 was down 9.21, or 0.05%, to 16,834.5. At 8.32am, WTI crude was at USD36.35/bbl and WTI was at USD38.3/bbl, both down from last week. Gold was at USD1217/oz.

The market remains sensitive to a raft of factors, among them tensions in the Middle East, security concerns in Europe, the health of the global economy and a global crude glut. Of the latter, oil prices sagged as Saudi Arabia cast doubts on an output freeze on Friday.

Mondi (MNDI) fell 1.89% to 1322.5p on stating it had not received notification of Russia's Federal Antimonopoly Service probing Mondi Syktyvkar. It was trailed by Antofagasta (ANTO), off 1.63% to 446.5p, and a jot back Shell (RDSA), lower 0.73% to 1655.75p.

Insurers ebbed after Admiral (ADM), down 1.43% to 1926p, and banks followed Standard Chartered (STAN), off 1.34% to 447.78p. Pharmas, commercial property and house builders also fell, but were off the overall pace. Almost 50 blue chips lost traction, just five by 1% or more.

To the upside, a couple of miners progressed, but utilities were thick on the ground after United Utilities (UU.), up 0.92% to 909.25p, and Severn Trent (SVT), up 0.77% to 2159.5p. Anglo American (AAL), up 1.98% to 549.05p, has agreed to sell its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia.


Landore Resources (LND), up 206.25% to 2.45p, has confirmed a significant gold discovery on its Junior Lake property in Ontario, Canada.

Caza Oil & Gas (CAZA), down 39.13% to 0.35p, has called a special meeting of shareholders to consider a proposal by Talara Opportunities V, LP, its majority shareholder, to take the company private at a cash price of USD0.00481 a share.

Sepura (SEPU), down 27.85% to 142.85%, expects FY revenues of 190m-200m euros, and sees adjusted EBITDA lower than expectations at 16m-20m euros.


Belvoir Lettings (BLV), up 11.35% to 103p, said group revenue for the year to Dec. 31, 2015, rose 19% to GBP6.9m. This was underpinned by strong growth of 25% in management service fees (MSF) to GBP4.0m, reflecting organic growth of 12.5% from the Belvoir network and a further 12.5%.

Chemring (CHG), up 7.41% to 139.63p, said implementation of the 40mm ammunition contract to an end user in the Middle East, referred to in the company's Jan. 21 results announcement, has commenced, with the related letter of credit in place and advance payment now having been received.

Sunrise Resources (SRES), down 10% to 0.14p, has raised GBP120,000 gross via a placing of 45.5m shares and a subscription of 63.6m shares, both at a price of 0.11p a share. Daily Internet (DAIP), up 5.63% to 1.88p, expects its FY results to show a significant improvement on last time.

Lakehouse (LAKE), down 4.43% to 48.5p, has sent a letter to shareholders setting out why they should reject all the resolutions proposed by requisitionists. First Derivatives (FDP), up 3.83% to 1518p, expects its FY performance to be comfortably ahead of consensus forecasts of GBP109.5m revenue and GBP22.1m EBITDA following strong H2 trading.

Solo (SOLO), up 4.92% to 0.32p, has now executed a Sale and Purchase Agreement (SPA) for the acquisition of a 3.825% interest in Kiliwani North Development Licence for a total cash consideration of USD2.16m.

Westminster (WSG), up 1.06% to 11.88p, confirms the issue of 1.6m shares of 10p each pursuant to the conversion of GBP175,000 of loan notes by Darwin Capital Ltd. Wood Group (WG.), down 0.82% to 603.5p, has been awarded a two-year contract extending its service provision for TAQA in the North Sea.

Ryanair (RYA), up 0.99% to 14.33p, said its March traffic rose 28% to 8.5m customers, with load factor gaining 4% to 94%. Its rolling annual traffic to March gained 18% to 106.4m customers.

Other stocks in the news included Tiziana Life Sciences (TILS), Empiric Student Property (ESP), Xchanging (XCH), Schlumberger (SCL), Chapel Down (CDGP), Bushveld Minerals (BMN), Polymetal (POLY), Mondi (MNDI), LiDCO (LID), Fulham Shore (FUL), Alpha Returns (ARGP), ITE Group (ITE), Obtala Resources (OBT), San Leon Energy (SLE), Sirius Real Estate (SRE), Castleton (CTP), Xeros Technology (XSG) and Redx Pharma (REDX).

At 8:45am:

[LON:AAL] Anglo American PLC share price was +4.8p at 543.2p

[LON:CAZA] Caza Oil Gas Inc share price was -0.28p at 0.3p

[LON:LND] Landore Resources Ltd share price was +1.48p at 2.28p

[LON:SEPU] Sepura PLC share price was -54.75p at 142.75p

[LON:UKX] share price was +4.15p at 6150.2p

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