Miners remained strong on Monday with Glencore (GLEN) and Rio Tinto (RIO) among the winners on a quiet day for corporate news. Glencore strengthened 3.2% to 415p and Rio Tinto was up 2.1% at £40.24. Anglo American (AAL) sold its 73%-held subsidiary Inyosi Coal for $71m, helping to push the stock 1.2% higher to £17.56. The FTSE 100 closed 5.8 points higher at 7,671. Brent crude oil fell 1.7% to $69.30 per barrel. OVERSEAS MARKETS Reports that Apple would cut the production of iPhone X significantly weighed on investor sentiment in the US. The S&P 500 fell 0.4% to 2,859 around 4:45pm UK time. MID AND LARGE CAP RISERS AND FALLERS Engineer GKN (GKN) warned a proposed takeover by Melrose (MRO) would negatively affect its pension scheme, causing the shares to retreat 0.9% to 431.9p. SMALL CAP RISERS AND FALLERS News that Defenx (DFX) may seek additional funding in the second quarter of 2018 upset investors as the stock plummeted 37.6% to 24p. The company said it would need to raise money if new orders do not come through and it cannot drawdown its facilities. Diamond producer Petra Diamonds (PDL) cut full year production guidance for the Cullinan mine in South Africa. Shares in the company slumped 19.8% to 63.1p after Petra also revealed full earnings would miss market expectations by between 10% and 15% as the stronger rand against the dollar made an impact. Drinks distributor Conviviality (CVR) lost its fizz on falling profits following the phasing of some synergies into the second half of the year. The stock fell 11.2% to 318p. Intellectual property specialist Frontier IP (FIPP) announced its portfolio company Molendotech sealed a collaboration deal with an arm of Halma to develop and licence its water testing products. Frontier IP gained 11.5% to 94.8p while Halma was flat at £12.72. A warning from music content provider Immedia (IME) that contract delays and a disappointing performance from its AVC operation will increases losses in 2017 concerned investors. Shares in the firm plummeted 30.1% to 22p. Gas and electricity supplier Yu (YU.) sparked 11.2% to £11.40 after it upgraded profit guidance 'significantly ahead' of current market forecasts. There was also good news from Sopheon (SPE), which rallied 14.7% to 565p as annual pre-tax profit is expected to beat market expectations.
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