Source - SMW
London stocks ended today's session only just in positive territory, having shrugged off a lacklustre start, with pharmas, utilities, property and financials in focus. Europe was modestly ahead, but Wall St was similarly lower.

Mediclinic (MDC) led with a rise of 3.4% to 928.4p, and was thereafter followed by a string of pharmas. Shire (SHP) added 2.89% to 4200p, while Astrazeneca (AZN) gained 0.98% to 3971p and Glaxosmithkline (GSK) firmed 0.92% to 1427.5p.

FTSE 100 closed up 18.67 points, or 0.3%, to 6164.72. FTSE 250 was up 1.96, or 0.01%, to 16,645.6. At 4.34pm, WTI crude was at USD36.67/bbl and WTI was at USD38.38/bbl, both down from last week. Gold was at USD1220/oz. 

Utility stocks were in northbound focus after United Utilities (UU.), up 1.33% to 913p, and Centrica (CNA), up 0.78% to 226.65p. Miners and oil majors were on both winners' and losers' ladders, but were mostly off the pace. Anglo American (AAL), up 1.69% to 547.5p, is selling its 70% interest in Foxleigh mine, Australia. 

Roughly 62 blue chips progressed, mostly with muted gain. Financials were guided up by WorldPay (WPG), up 1.05% to 278p, and Prudential (PRU), up 0.92% to 1290.75p. Consumer goods, supermarkets and both commercial and residential property made progress, too.

The market remains sensitive to a raft of factors, among them tensions in the Middle East, security concerns in Europe, the health of the global economy and a global crude glut. Of the latter, oil prices sagged as Saudi Arabia cast doubts on an output freeze on Friday.

Mondi (MNDI) fell 2.52% to 1314p on stating it had not received notification of Russia's Federal Antimonopoly Service probing Mondi Syktyvkar. 

BIGGER MOVERS

Landore Resources (LND), up 300% to 3.2p, has confirmed a significant gold discovery on its Junior Lake property in Ontario, Canada.

Intelligent Energy (IEH) surged 105.13% to 20p as it unveiled plans to materially restructure its business, including shedding about 200 jobs, as talks to secure funding continue. 

Caza Oil & Gas (CAZA), down 42.61% to 0.33p, has called a special meeting of shareholders to consider a proposal by Talara Opportunities V, LP, its majority shareholder, to take the company private at a cash price of USD0.00481 a share. 

ECONOMIC NEWS

Stateside, US factory orders fell USD8.0bn, or 1.7%, to USD454.0bn in February, US Census Bureau said. This followed a 1.2% rise in January. Meantime, the US Labor Market Conditions Index rose to -2.10 in March from -2.40 in February, US Federal Reserve said.

Markit/CIPS' UK Construction Purchasing Managers' Index (PMI) came in at 54.2 in March, in line with February but slightly below forecasts for 54.3.

Euro-zone investor confidence worsened in April. The Sensix investor confidence index for April came in at 5.7, against an expected 6.9 and from 5.5 previously. Meantime, Euro-zone's PPI for February came in at -0.7%, versus an expected -0.5% and from -1.0% previously.

LONDON HIGHLIGHTS

Sepura (SEPU), down 32.91% to 132.5%, expects FY revenues of 190m-200m euros, and sees adjusted EBITDA lower than expectations at 16m-20m euros. Wood Group (WG.), down 3.2% to 589p, has been awarded a two-year contract extending its service provision for TAQA in the North Sea. 

Tribal (TRB) dipped 24.5% to 37.75p as it traded ex-rights following a one-for-one equity raise at 22p a share. LiDCO (LID) climbed 6.06% to 8.75p as the US FDA approved the LiDCOunity system for sale in the country.

Sunrise Resources (SRES), down 13.33% to 0.13p, has raised GBP120,000 gross via a placing of 45.5m shares and a subscription of 63.6m shares, both at a price of 0.11p a share. 

Belvoir Lettings (BLV), up 10.81% to 102.5p, said group revenue for the year to Dec. 31, 2015, rose 19% to GBP6.9m.  This was underpinned by strong growth of 25% in management service fees to GBP4.0m, reflecting organic growth of 12.5% from the Belvoir network and a further 12.5%.

Chemring (CHG) rallied 7.98% to 140.38p on confirming the start of a 40mm ammunition contract to an end user in the Middle East. The deal, referred to in the company's Jan. 21 results, has the required letter of credit in place and advance payment now having been received.

Lakehouse (LAKE), down 1.22% to 50.13p, has sent a letter to shareholders setting out why they should reject all the resolutions proposed by requisitionists. Daily Internet (DAIP), up 5.63% to 1.88p, expects its FY results to show a significant improvement on last time.

First Derivatives (FDP), up 4.14% to 1522.5p, expects its FY performance to be comfortably ahead of consensus forecasts of GBP109.5m revenue and GBP22.1m EBITDA following strong H2 trading.

Solo (SOLO), down 6.56% to 0.29p, has now executed a Sale and Purchase Agreement (SPA) for the acquisition of a 3.825% interest in Kiliwani North Development Licence for a total cash consideration of USD2.16m.  

Other stocks in the news included Tiziana Life Sciences (TILS), Ryanair (RYA), Empiric Student Property (ESP), Westminster (WSG), Xchanging (XCH), Schlumberger (SCL), Chapel Down (CDGP), Bushveld (BMN), Polymetal (POLY), Mondi (MNDI), LiDCO (LID), Fulham Shore (FUL), Alpha Returns (ARGP), ITE (ITE), Obtala (OBT), San Leon Energy (SLE), Sirius Real Estate (SRE), Castleton (CTP), Xeros (XSG) and Redx Pharma (REDX).




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