StockMarketWire.com - Expectations of new economic stimulus measures in China put resources stocks in a favourable light, underpinned by rising commodity prices. But it wasn't enough to lift the overall market with the FTSE 100 easing back 0.4% to 6,112.62.

Miners and oil stocks Anglo American (AAL), Kaz Minerals (KAZ), Tullow Oil (TLW) and Evraz all featured in the large cap top risers.

West Texas Intermediate crude increased 1.8% to USD47.05 and Brent Crude was up 1.9% to USD48.74 a barrel, respectively.

Gold glittered with a rise of 0.64% to USD1,280 per ounce, while copper climbed 0.58% to USD854,305.75 per tonne.

TOP RISERS AND FALLERS

Platinum miner Lonmin (LMI) produced 177,444oz of platinum in the three months to 31 March, which is 44.9% higher than the same period a year earlier. The market liked the progress, sending the shares up 14% to 186p.

Polymer specialist Victrex (VCT) increased its net cash by 7% to GBP45.3m and expects the Magma Oil & Gas programme to produce revenue by the end of the year, boosting its share price 5% to 1,499p.

Housebuilder Crest Nicholson (CRST) remains on track to reach its target of GBP1bn of revenue for the full year to October 2016, and shares were up 5% to 552p.

Technical plastics products Carclo (CAR) decided to discontinue its investment in Carclo Diagnostics Solutions (CDS), resulting in a drop of 4% to 149p.

BIGGEST MOVERS

Union Jack Oil (UJO) announced its cash balance is in excess of GBP2.6m as of 30 April and the company remains debt free. Shares shot up 11.5% to 0.14p.

A subsidiary of property develop Plaza Centers (PLAZ) entered an agreement concerning the sale of the Riga Plaza entertainment centre in Latvia to a global investment fund, and shares increased by nearly 14% to 3.13p.

ECONOMIC NEWS

According to Rightmove, the UK average asking price increased 0.4% month on month to GBP308,151 in May, following a 1.3% rise in April. House prices rose 7.8% in May on a year on year basis, compared with a 7.3% in April.

Consumer price inflation (CPI) in Germany declined 0.4% month on month in April, which reversed a 0.8% rise in March. Gross domestic product (GDP) expanded the most in two years to 0.7% in the first quarter of 2016, compared to 0.3% in the last quarter of 2015.

Eurozone GDP improved 0.5% in the first quarter, compared to 0.3% in the fourth quarter of 2015. However, year-on-year GDP was slower than market expectations.

In the US, retail sales blossomed 1.3% in April after declining 0.3% in March, according to the Commerce Department. This was ahead of market expectations of a 0.8% rise.

US producer price index (PPI) for final demand was up 0.2% in April after falling 0.1% in March, according to the Bureau of Labor Statistics.

OTHER HIGHLIGHTS

Satellite operator Avanti Communications (AVN) grew its third quarter revenue by nearly 15% to USD19.5m, boosting shares 3% to 88p.

Gold digger Nord Gold (NORD) shone despite revenue declining by around 5% to USD250.5m in the first quarter of 2016. Shares were up 1.6%.

London property investment company British Land's (BLND) pre-tax profits fell from GBP1.79bn to GBP1.33bn. Shares fell 1.5% to 707.5p.

Other stocks in news include CentralNic (CNIC), Barloworld (BWO), Diploma (DPLM) and ICAP (IAP).

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