London equities opened on the front foot with oil and gold prices ahead, helping a posse of resources stocks to the top of the blue-chip index's sharp end. This after UK prime minister Theresa May received Brexit warnings from US and Japan at G20 over the weekend, with Wall St and Asian stock markets progressing overnight. At 8.41am, WTI crude was up 2.21% to $45.42/bbl and Brent was up 2.63% to $48.06/bbl. Gold was ahead 0.2% to $1329.3. A raft of UK, European and US purchasing managers' index data is due out today. Anglo American (AAL) was up 2.37% to 827.15p, while BHP Billiton (BLT) added 2.24% to 1017.75p, and Fresnillo (FRES) gained 2.01% to 1701.5p. More miners followed. Oilies appreciated, too. BP (BP.) added 0.86% to 434.7p, and Shell (RDSA) advanced 1.07% to 1890.5p. Also making gains were several US rates-sensitive utilities, plus a number of pharmas. GlaxoSmithKline (GSK), up 0.26% to 1659.25p, has announced the positive results from the pioneering Salford Lung Study have been published in the New England Journal of Medicine. Risers and fallers were broadly evenly split, with banks and hosue builders topping the losers' half of the top-100 ladder. Royal Bank of Scotland (RBS) faltered 2.77% to 198.65p, while Lloyds (LLOY) slipped 1.85% to 59.82p. Among house builders, Persimmon (PSN) tapered 1.59% to 1830.5p, and Berkeley (BKG) lost 1.11% to 2718.5p. Commercial property was broadly lower, as were supermarkets and several retailers, with insurers and leisure caught in the southbound pall. BIGGER MOVERS Tethys (TPL), down 33.33% to 1.25p, said Olisol has not met certain funding requirements and considered it to be in breach of an Investment Agreement. Tethys continued to work with Olisol to complete the private placement, same time evaluating alternative funding arrangements. Frontera Resources (FRR), up 26.32% to 0.12p, has upgraded the gas potential and announced progress from oil and gas operations in Georgia. 88 Energy (88E), down 21.21% to 2.6p, has updated on Icewine #2, commenting a revision to the well design had resulted in a desirable scenario for the company and its shareholders. It now had a more efficient, lower-cost outcome that optimised achievement of the operational objectives targeted by the Icewine #2 well. Pantheon Resources (PANR), down 18.5% to 122.25p, has confirmed the cessation of drilling operations at the VOBM#2 well and provided an update on the fracture stimulation remediation process at VOS#1 well. LONDON HIGHLIGHTS FinnAust Mining (FAM), up 13.27% to 6.06p, has significantly increased its land position in Greenland via the proposed acquisition of 100% of Avannaa Exploration, a mineral exploration company with several advanced projects in the south-west of the country. Koovs (KOOV), up 10.92% to 66p, reported strong sales growth of 115% year on year in the four months to end-July, and a significant increase in brand awareness from <1% to 18%. Randall & Quilter Investment Holdings (RQIH), up 5.19% to 111.5p, has returned to first-half pretax profit. Pretax profit was £1.2m, from a year-ago loss of £4.5m. Cambria Automobiles (CAMB), up 4.48% to 70p, is confident of delivering results for the full year in line with the revised market expectations. Vipera (VIP), down 2.63% to 4.63p, has reported a year so far of steady progress, as it narrowed its first-half pretax loss and improved its revenue. Scisys (SSY), up 2.37% to 86.5p, has won a contract by the UK Ministry of Defence (MOD) to deliver further research and software development services to the Defence Science and Technology Laboratory (Dstl). Dechra (DPH), up 1.58% to 1320.5p, reports a strong financial performance for the year to the end of June. Undelying EBITDA rose 22.7% to £58.0m. RedstoneConnect (REDS), up 1.35% to 1.88p, said its trading for the six months to July 31 continued to be strong, with the business performing in line with expectations. Green Dragon Gas (GDG), up 1.01% to 245.75p, is in talks with Nordic Trustee ASA, which acts as trustee for the holder of the $88m senior secured bonds issued by Green Dragon Gas and certain key bondholders regarding a request for certain waivers of its financial covenants. Other stocks in the news included StatPro (SOG), Wizz Air (WIZZ), Carillion (CLLN), Plus500 (PLUS), LondonMetric Property (LMP), Urals Energy (UEN), Vela Technologies (VELA), Fishing Republic (FISH), Union Jack Oil (UJO), Craven House Capital (CRV), Hunting (HTG), Vectura (VEC) and Atalaya Mining (ATYM).
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