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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.





    March 15, 2006

    London markets gain on heavy BP trade

    Filed under: Companies, Prudential, BP, International Power, British Energy, Aberdeen Asset Management, Amvescap, New Star Asset Management, National Grid, Woolworths

    The London equities markets were up on Wednesday, with the FTSE 100 gaining 0.2 percent to 5,965 and the FTSE 250 gaining 0.9 percent to 9,729.0.

    Asset managers had a good day on positive comments about the sector from Morgan Stanley. Aberdeen Asset Management gained 6.9 percent to 186p, while Amvescap advanced by 4.2 percent to 550p. Elsewhere in the sector, Deutsche Bank issued an initial “buy” rating and set a 440p share price target on New Star Asset Management, which gained 6.8 percent on the day to 402¾p.

    Utilities were up on high electricity prices. British Energy gained 3.9 percent to 646p, while International Power was up 1.1 percent to 277p and National Grid added 0.9 percent to 603½p.

    In the retail sector, Woolworths gained 4.1 percent to 37¾p after rumors circulated that the Reuben Brothers have been buying shares in the company.

    Insurer Prudential was up 0.9 percent on the day to 609½p on talk that there might be a bid for it soon and ahead of an earnings report due Thursday.

    BP gained 2.2 percent to 665p and over 180 million shares in the company were traded after an analyst’s comments that it would be better off if it were to separate its upstream and downstream components.





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