- London stocks opened firmly lower on a gang of falling banks, financials and house builders in a week crammed with guaranteed to be closely watched policy meetings by the US Federal Reserve, Bank of England and Bank of Japan, along with a convoy of other economic data.

Lloyds Banking (LLOY) was down 2.01% to 65.7p, with Barclays (BARC) falling 1.93% to 166.13p and Standard Chartered (STAN) ebbing 1.68% to 507.25p. Among other financials, Standard Life (SL.) dropped 1.63% to 311.05p and Hargreaves Lansdown (HL.) slipped 1.5% to 1249p.

House builders followed Taylor Wimpey (TW.), down 1.47% to 180.5p, and Barratt Developments (BDEV), off 1.05% to 541.25p. Miners were on the back foot, but off the overall clip. Glencore (GLEN) eased 1.27% to 132.4p, while Anglo American (AAL), dropped 1.11% to 635.35p.

Soon after the open, FTSE 100 was down 33.28 points, or 0.54%, to 6082.48. FTSE 250 was lower 146.85, or 0.87%, to 16,680.6. Both were at 3-4-week lows. At 8.30am, WTI crude was down at $48.54/bbl and Brent was lower at $50.09/bbl. Gold was up at $1285 an ounce. This followed a firmly lower Europe and Asia, while Wall St dropped overnight Friday.

Other blue chips surrendering ground included high-street retail, commercial property and utilities. Burberry (BRBY) lost 1.22% to 1055p, Hammerson (HMSO) fell 0.83% to 566.25p, British Land (BLND) dropped 0.75% to 723p, and Dixons Carphone (DC.) lost 0.89% to 408.75p.

Overall, about 82 blue chips were lower, with 18 making mildly positive progress. Randgold (RRS) guided with a 1.62% rise to 6732.5p, while Fresnillo (FRES) added 0.91% to 1225p. While most supermarkets tapered, Sainsbury (SBRY) added 0.35% to 242.65p.


Fitbug Holdings (FITB), down 29.63% to 0.48p, saw revenues for the year ended 31 December fall to £1.3m, from £2.3m in 2014, and pre-tax losses rise to £6.3m, from £3.8m.

Triad Group (TRD), up 28.71% to 32.5p, has more than doubled its FY pretax profit to £0.86m, from £0.35m. Revenue was £28.3m, from £23.5m. Water Intelligence (WATR), up 18.64% to 70p, has improved its FY pretax profit to $0.97m, from $0.59m, and made a very positive start to 2016. Revenue also rose, to $8.8m, from $7.2m.

Golden Saint (GSR), down 14.29% to 0.08p, has raised £400,000, gross, through a placing of 571.4m new shares at 0.07p each. Proceeds would be used to continue its bulk-sampling operations and for general working capital purposes.


PhotonStar LED (PSL), up 4.76% to 2.75p, announces the renewal of a rolling one-year exclusive supply agreement with a major UK housebuilder, to supply LED lighting fixtures for all of the housebuilder's new homes.

Independent Oil and Gas (IOG), up 4.35% to 18p, has signed a sale and purchase agreement with Verus Petroleum Ltd to conditionally acquire 100% of the shares of Oyster Petroleum Limited, a subsidiary of Verus.

SDX Energy (SDX), up 4.44% to 23.5p, confirms that the seismic acquisition programme at its South Disouq asset completed on June 12.

Union Jack Oil (UJO), up 3.23% to 0.16p, has agreed with Egdon Resources (EDR) to acquire an 8.33% economic interest in PEDL182, in Lincolnshire on the western margin on the Humber Basin containing the Broughton North Prospect.

ReNeuron (RENE), down 3.43% to 3.38p, has completed patient recruitment in the Phase II clinical trial (PISCES II) of its CTX cell therapy candidate in patients with motor disability as a result of ischaemic stroke.

UK Oil and Gas Investments (UKOG), down 3.17% to 1.53p, has signed agreements with Celtique Energie and Magellan Petroleum to acquire 100% ownership of the 300 sq km Weald Basin licence PEDL234.

redT energy (RED), up 1.41% to 9p, said that two of its 5-40kWh energy storage systems have arrived at a customer's site in Johannesburg, South Africa. Bushveld Minerals (BMN), up 2.53% to 2.03p, energy subsidiary Bushveld Energy Company has signed a cooperation agreement with the Industrial Development Corporation of South Africa.

Plexus (POS), up 0.94% to 67.88p, has agreed the terms of a conditional placing to raise £6m gross via the placing of 9.23m shares at 65p each. Proceeds would be applied across a number of the company's areas of activity to ensure it was well placed to take advantage when sector activity resumes.

Other stocks in the news included Gabelli Value Plus+ Trust (GVP), Taptica (TAP), Avacta (AVCT), Schroder REIT's (SREI), Stellar Diamonds (STEL), Faron Pharmaceuticals (FARN), Ten Alps (TAL), Global Telecom (GLTD), Mail.Ru (MAIL) and GVC Holdings (GVC).

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