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FTSE / DOW YTD

FTSE tapers on mixed bag as Wolseley leads fallers

StockMarketWire.com

FTSE indices scampered lower in early deals on a mixed bag of sectors and following southbound sessions on Wall St and in Asia overnight. Heating and plumbing specialist Wolseley (WOS) was hard hit, followed by pharmas, house builders and financials. Europe was mildly lower.

Shortly after the open, FTSE 100 was down 38.16 points, or 0.64%, to 5920.7. FTSE 250 was off 107.67, or 0.65%, to 16,506.5. At 8.48am, spot gold and copper were at $1127/oz and $223/lb respectively. Crude was marginally firmer.

Wolseley (WOS) fell 10.92% to 3722.5p after it posted a FY pretax profit of £508m, from £676m on higher revenue. It expected the UK market to remain competitive with little growth. It was followed by pharmas Shire (SHP), off 3.58% to 4411p, and Hikma (HIK), down 2.45% to 2369.5p.

House builder Persimmon (PSN), falling 1.99% to 2067p, led sector pals Taylor Wimpey (TW.) and Barratt Developments (BDEV) south. Financials traced bank Barclays' (BARC) slide of 1.75% to 240.9p, with investment specialists tapering behind Schroders (SDR), off 1.68% to 2722.5p.

Roughly 80 blue chips were lower and among there number were tobacco firms, several leisure outfits and a blend of high-street retailers, supermarkets and consumer goods heavyweights. Miners led the risers, Glencore (GLEN) recouping 6.35% to 72.98p after yesterday's drubbing. In oil, Shell (RDSA) added 0.63% to 1518p.

In the news, Hammerson (HMSO), down 0.65% to 609.5p, and JV partner Allianz Real Estate has signed an agreement with Ireland's National Asset Management Agency to acquire the Project Jewel portfolio of loans secured against market-leading retail assets in Dublin, Ireland.

BIGGER MOVERS

Panmure Gordon (PMR), down 22.98% to 95.5p, has swung to an H1 pretax loss of £0.2m, from a profit of £2.0m. Net commission and trading income totalled £5.68m, from £5.36m. It has a debt-free balance sheet. Alecto Minerals (ALO), up 20% to 0.12p, said a scoping study had shown robust economics for a JV heap-leach project with Desert Gold Ventures Inc.

Mirada (MIRA) fell 23.48% to 8.13p after its pre-close trading update. Traders disliked news of delays in deploying two networks, due to the customer, which would result in limited revenues from licence fees being recognised from these networks in FY 2016.

Nyota Minerals (NYO) fell 20% to 0.04p after posting a reduced FY pretax loss of $3.2m, from a loss of $3.8m. Xtract Resources (XTR) lost 16.67% to 0.25p despite reducing its net loss by 19.72% to £0.79m, and reporting a hike in net assets, along with a strong balance sheet.

LONDON HIGHLIGHTS

Verona Pharma (VRP), up 14.77% to 5.05p, has announced encouraging positive headline data of the third and final part (part C) of a randomised, double blind, placebo controlled Single Ascending Dose (SAD) / Multiple Ascending Dose (MAD) clinical study in stable chronic obstructive pulmonary disease (COPD) patients.

Toumaz (TMZ) fell 13.04% to 2.5p, despite widening its H1 pretax loss to £10.7m, from a loss of £7.4m. Revenue improved, howver. Noricum Gold (NMG), up 11.11% to 0.15p, has provided an update on exploration works currently underway at the 861 km sq Bolnisi Project, which is located in the Republic of Georgia.

Roxi Petroleum (RXP), up 3.14% to 8.38p, has posted an H1 pretax profit of $18.7m, from $23.4m. The result was swollen by a $18.7m profit on disposal of an equity accounted JV. The comparable period included $25.0m impairment reversal.

Arria NLG (NLG), down 1.3% to 38p,has received notice from the United States Patent and Trademark Office that its application for a patent on its Method and Apparatus for Interactive Reports will be granted.

Vernalis (VER), down 1.91% to 76.88p, has posted a pretax loss of £3.7m for the 12 months to June 30, from a loss of £14.4m for the 12 months to June 30, 2014. Revenue was £13.7m, from £12.7m. Revolution Bars Group (RBG), down 3.47% to 181p, has lifted its FY pretax profit to £2.9m, from £2.6m. Revenue was £11.8m, from £108.7m. It was debt-free at June 30.

Other stocks in the news included Earthport (EPO), Circle Oil (COP), Redhall (RHL), Rotork (ROR), Cairn Homes (CRN), Crawshaw (CRAW), The People's Operator (TPOP), Mitie (MTO), Outsourcery (OUT) and James Halstead (JHD).

Cheers Jimmy - I'm in and out for the next few weeks.

Midday Market Summary

Sorry skinny i should just have cut and paste the link .