London's FTSE 100 falls back below the 7,000 mark on Wednesday, mirroring declines overnight from US and Asian markets and with banks under pressure; HSBC (HSBA) is off 2.2p at 624.1p, Barclays (BARC) cheapens 1.6p to 182.2p and RBS (RBS) trades 1.4% easier at 189.6p.

The catalyst is a disappointing third quarter update from Lloyds (LLOY), marked down 3.8% to 53.3p as the bank reports a 3% drop in underlying profit to £1.912bn and announces it has set aside another £1bn charge relating to PPI mis-selling.

Mining giant Antofagasta (ANTO) falls 7% to 502.5p as CEO Ivan Arriagada lowers production guidance for the year, which is now expected to be 'close to the lower end of the 710-740,000 tonnes range provided at the beginning of the year'.

Heading in the opposite direction is Daily Mirror and Daily Record brands owner Trinity Mirror (TNI), which ticks 4.4% higher to 88.75p as it continues with its earnings enhancing share buyback programme announced back in August.

Mining services play Capital Drilling (CAPD) clips ahead 3.4% to 46.25p on a strong third quarter trading update and upbeat outlook statement from CEO Mark Parsons, who says 'positive signs of improvement in the market are continuing, with increased activity primarily generated from the gold segment. What is encouraging is the increasing number of clients re-engaging in exploration activity.'

Waste management company Shanks (SKS) sheds 13.5% at 96.5p as 166.2m rights issue shares flood the market; this follows a recent £96 million 3 for 8 rights issue to part fund the acquisition of VGG, a transformational deal to create a leading waste-to-product business in the Benelux region.

Armadale Capital (ACP:AIM) surges 12% higher to 3.5p following an 85% strike rate of high grade graphite mineralisation from drilling at its Mahenge Liandu project in Tanzania. Global demand for natural graphite is set to increase substantially over the next few years and as all the mineralisation intersected is near the surface, this implies relatively low extraction costs.

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Issue Date: 26 Oct 2016