Source - SMW
London stocks were cautiously ahead in early deals, with miners leading a mixed bag of FTSE 100 gainers. 

Investor sentiment remains susceptible to any updates on a potential 'hard Brexit' because of its potential impact on the UK economy.

Fresnillo (FRES) guided the pack with a 2.04% rise to 1699p, and was chased by fellow gold specialist Randgold (RSS), up 1.91% to 7210p. Also up were BHP Billiton (BLT), rising 1.12% to 1246.25p, and Antofagasta (ANTO), ahead 1.09% to 556p.

Randgold is disappointed the Malian government had escalated their long-running tax dispute to the extent of closing the group's offices in the country's capital Bamako.

Blue-chip fallers outnumbered risers by 57 to 43. Most moves were muted. Beverages and high-street retail were notable among gainers, but others in their sectors' were lower. 

To the downside, airlines, banks, insurers and house builders were prominent. EasyJet (EZJ) dropped 3.4% to 865.5p, while IAG (IAG) faded 1.48% to 359.4p. 

Lenders were led lower by Barclays (BARC), off 2.06% to 170.03p, while Taylor Wimpey (TW.), down 0.68% to 1449.5p, provided cue for house builders.

At 8.33am, WTI crude was down 0.44% to $49.59/bbl and Brent was down 0.33% to $51.76/bbl. Gold was up 0.95% to $1263.8/oz.

Soon after the open, FTSE 100 was up 13.69 points, or 0.19%, to 7058.08, while FTSE 250 gained 27.04, or 0.15%, to 18,022.2.

BIGGER MOVERS

InnovaDerma (IDP) expects FY revenue and profits will be significantly higher than the previous year, driven by underlying organic growth across its product range and the contribution of the Skinny Tan business. Its shares soared 266.67% to 275p.

Petards (PEG), up 19.35% to 18.5p, has won a contract to supply Great Western Railway with its eyeTrain systems.

Surface Transforms (SCE), down 7.48% to 24.75p, has widened its FY pretax loss to £1.15m, from a loss of £0.98m. It sees FY 2016-17 sales flat on the year, with those for H1 down on the year.

LONDON HIGHLIGHTS

Blur Group (BLUR), up 7.32% to 5.5p, announces a major addition to its online Marketplace allowing organisations to source goods alongside business services for the first time.

William Hill (WMH), up 5.63% to 311.2p, and Amaya Inc note recent press speculation and confirm they are in discussions regarding a potential all share merger of equals.

MySQUAR (MYSQ), up 2.86% to 4.5p, notes that the US formally ended its sanctions against Myanmar on Friday 7 October 2016.

Thalassa (THAL), up 4.11% to 38p, said WGP Survey Ltd, a wholly owned subsidiary of WGP Group Ltd (WGP), has made further sales of the multi client data acquired with TGS-NOPEC Geophysical Company ASA in 2014. 

7digital (7DIG), up 4.08% to 6.38p, said that, as part of the Radioplayer Worldwide (RPW) consortium, it has signed two new licensing agreements in Canada and Peru. 

Digital Barriers (DGB), up 1.61% to 47.25p, confirms a strategic partnership with G4S, a global, integrated security company specialising in the delivery of security and related services.

Ultra Electronics (ULE), up 1.27% to 1869.5p, has won a $34.6m cost-plus-fixed-fee contract by the Department of the Navy to continue providing cyber-secure critical infrastructure solutions. 

Unite Students (UTG), down 0.45% to 602.25p, has issued quarterly property valuation of the Unite UK Student Accommodation Fund (USAF) and the London Student Accommodation Joint Venture (LSAV) as at Sept. 30.

SVG Capital (SVI), up 0.37% to 671p, said it has received no offer from HarbourVest Bidco for the Asset Purchase Alternative. It continues to believe that HarbourVest Bidco's final cash Offer of 650p per share undervalues the company and urged shareholders to take no action.

Other stocks in the news included YouGov (YOU), GCP Infrastructure (GCP), Earthport (EPO), Vedanta (VED), Corero Network Security (CNS) and Premier African Minerals (PREM).




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