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    September 28, 2007

    Lonmin up 7.39 percent on platinum prices

    Filed under: Companies, PartyGaming, Kazakhmys, Antofagasta, Lonmin, London Stock Exchange, New Star Asset Management, Dana Petroleum, Tate & Lyle, Benfield Group, Collins Stewart

    Equities markets in London were lower in Friday trade.

    The FTSE 100 fell 0.3 percent to 6,466.8 while the FTSE 250 was 0.02 percent lower to 11,037.4.

    Miners were mixed.

    Lonmin (LSE: LMI) added 7.39 percent to £36.49 on a rise in platinum prices and on the possibility that Xstrata (LSE: XTA) might be interested in bidding.

    Gold miner Randgold (LSE: RRS; NAS: GOLD), meanwhile, was up 6.96 percent to £16.60.

    On the other hand Antofagasta (LSE: ANTO) was 3.54 percent lower to 762.5p, while Kazakhmys (LSE: KAZ) fell 3.44 percent to £14.05 after a downgrade from “buy” to “neutral” from UBS (NYSE: UBS; SWX: USBN; TYO: 8657).

    Food processor Tate & Lyle (LSE: TATE) was the biggest loser by far on the 100, plummeting 27.8 percent to 402.5p after it announced a “small” loss in the first half.

    Over on the 250, broker Collins Stewart (LSE: CLST) was the best performer, adding 7.59 percent to 205.5p.

    Other gainers on the 250 included reinsurer Benfield Group (LSE: BFD), which was up 7.41 percent to 290p.

    Dana Petroleum (LSE: DNX) gained 6.31 percent to £11.62.

    Asset managers New Star (LSE: NSAM) had the worst day on the 250 as it dropped 13.33 percent to 354p on statements from its chairman that it now faces a “challenging environment” after first half profits were up by 57 percent.

    Also lower were PartyGaming (LSE: PRTY) with a decline of 5.17 percent to 27.50p and the London Stock Exchange (LSE: LSE), which dropped 4.75 percent to £16.43.





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