Source - SMW
London shares opened marginally lower, in keeping with the rest of Europe, as falls among a string of sectors only just offset gains among big-ticket miners.

In early deals, the FTSE 100 was down 1.4 points, or 0.02%, to 7445.4, while the FTSE 250 was down 60.45, or 0.31%, to 19,624.2. Gold, silver and copper were up, as was crude.

GKN (GKN) led with a fall of 2.34% to 338p, and was chased by M&S (MKS), down 1.84% to 337p. Among other fallers were several utilities led by National Grid (NG.), down 0.95% to 995.45p.

Leisure stocks Tui (TUI), down 1.78% to 1129.5p, and Carnival (CCL), down 1.77% to 5132.5p, were also in focus.

Other sectors down included insurers, commercial property, tobacco, house builders and retail.

To the upside, Anglo American (AAL) guided with a 2.63% rise to 1000.1p, with Rio Tinto (RIO) up 2% to 3118p and BHP Billiton (BLT) adding 1.69% to 1161.25p.

Several banks and supermarkets fashioned minor gains, too.

BIGGER MOVERS

Mayan Energy (MYN) fell 36.84% to 0.3p as it raised £587,500 in a subscription at 0.3p a share. It also agreed to invest £300,000 into Block Energy Plc, a NEX-listed oil and gas company with interests primarily in Georgia.

Caledonia Mining (CMCL) rose 377.61% to 480p after a share consolidation. Electric Word (ELE) rose 14.81% to 3.88p after recommending a 3.93p a share cash offer by Sport Business Acquisitions Ltd. The acquirer was owned by Riccardo Silva and Marco Auletta.

Saffron Energy (SRON), down 10.26% to 4.38p, said it continued to make good progress in its application for a full production concession from the Emilia Romagna regional government in Italy.

LONDON HIGHLIGHTS

Northgate (NTG), down 10.1% to 478.25p, said its FY pretax profit has slipped to £72.2m, from £77.6m, with total dividend coming in at 17.3p a share, from 16.0p.

Carpetright (CPR), up 9.44% to 197p, has described the 52 weeks to 29 April as a year of significant strategic progress. It said a positive trading momentum was re-established in the second half and it had made an encouraging start to the new financial year.

IG Design Group (IGR), up 5.11% to 360p, said its revenues rose 31% to £311m in the year to the end of March. Pretax profit rose 32% to £13.0m, while underlying profit before tax was up 51% at £16.3m.

Debenhams (DEB), down 3.64% to 42.88p, has warned pretax profits for the year could be towards the lower end of forecasts if current market volatility continued. Group like-for-like sales fell 0.9% in the 15 weeks to 17 June, but were up 1.8% in 41 weeks to 17 June.

RhythmOne (RTHM), up 3.59% to 43.25p, has acquired certain assets of RadiumOne Inc, a data-driven marketing platform. It also confirmed President Edward Hastings would succeed Subhransu Mukherjee as CEO, effective 19 July 2017.

Verona Pharma (VRP), up 2.1% to 121.5p, announces regulatory approval in five European countries for a Phase 2b dose-ranging trial of RPL554 for maintenance treatment of chronic obstructive pulmonary disease (COPD). 

Other stocks in the news included Satellite Solutions Worldwide (SAT), RedstoneConnect (REDS), Molins (MLIN), Findel (FDL), James Cropper (CRPR), BCA Marketplace (BCA), Rambler Metals & Mining (RMM), Benchmark (BMK), Oxford Metrics (OMG), LondonMetric Property (LMP), Gaming Realms (GMR), XLMedia (XLM), Polar Capital Holdings (POLR) and AfriAg Global (AFRI).