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FTSE /DOW COMP

FTSE 250 - WINNERS

Derwent London, up 2.6%. Deutsche Bank raised the London-focused property investor to Hold from Sell.

FTSE 250 - LOSERS

Petra Diamonds, down 8.6%. The diamond miner warned a parcel of diamonds from the Williamson mine in Tanzania has been blocked from export to Petra's marketing office in Antwerp and certain key personnel from the operation are currently being questioned by the authorities. Petra Diamonds, responding to recent media reports about the findings of an investigation into the Tanzanian diamond sector by a parliamentary select committee, said the "grounds upon which these actions have been taken have not been formally made known to the company as yet". The Williamson mine is held 75% by Petra and 25% by the government, and Petra said "all operations related to the mine are conducted in a transparent manner and in full compliance with legislation in Tanzania and the Kimberley Process". Petra follows Acacia Mining to become the second major London-listed miner to have suffered problems in Tanzania following new legislation introduced earlier this year. Acacia was down 1.4%.

Carillion, down 4.5%. The construction company said Finance Director Zafar Khan is leaving the company with immediate effect, confirming a Sky News report. Khan's departure after only nine months in the job is a further blow to the company after a profit warning given in July which sparked fears for the support services firm's long-term future. Khan is to be replaced by Emma Mercer, who has held several senior positions at Carillion since joining in 2008, most recently as finance director of the UK construction arm. Prior to this, she had served as chief financial officer and senior vice-president of Carillion Canada. The unexpected profit warning led the company to put aside GBP845 million following a review of its material contracts due to a "deterioration in cash flows". Shares are down 82% so far in 2017.

Midday Market Report

http://www.moneyam.com/action/news/showArticle?id=5659704

Some oil stock on the weak side

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Banks much the same, lower after being up earlier and FTSE losing ground, though the DOW opening well up with 187 points higher

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VOLUME AND RISING

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VOLUME AND RISING

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re - SXX 26p -1.03p

update 9:30am
For the last 30 minutes there is a seller on the order book currently @ 26p, the order book is placing 50K from the iceberg @ 26p as the last of thee orders is taken with "AT", how big is it is another thing but not able to see.

update 10am
When MMs know there is a seller, the order book is being manipulated down so the seller does not get good prices, this has been going on for some time now and the reason for the large fall.
Once is gone MMs move the order book strong and bounce back strongly like last Friday

Currently the iceberg places 38.4K @ 26p as the order to sell diminishes but someone placed a small sell lower 25.97p
Dispite large buys, till the sell order is done will keep weak

Update 10.15am
The rumour out of Israel that ICL are in talks with SXX to offload Boulby.

"Israel Chemicals has held preliminary discussions with the British company Sirius Minerals to sell its British mining operations for a price that could reach between $150 million and $200 million.
Although ICL’s Boulby mine in Yorkshire has traditionally focused on potash, which is the parent company’s flagship product, Sirius is really interested in the polyhalite mining that the Israeli company has developed in recent years."

End of the day

Thank you for what you taught me.
Please keep teaching my hungry mind!

Nice intraday reversal on the banks. Some parties continuing to sell banks no matter what it seems.

I'm guessing the selling will continue until BOE decision although I'm only looking to go long at these prices as I think the wording of the BOE statement will again show interest rate rises are closer than the market expects

.

Morning all!