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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

21/07/05

Permalink 04:46:46 pm, Categories: Main exchanges, London FTSE, Sectors, Mining, Energy & Power, 193 words  

London markets rollercoaster

It was a roller coaster day on London’s equities markets on Thursday as new reports of terrorist activity erased early gains and sent the FTSE down by 75.8 points, only to make up the losses once it was understood that compared to the bombings two weeks ago, these attacks had caused minimal damage and injury.

Also having an effect on the day’s trade was China’s decision to revalue the renminbi. The FTSE 100 closed the day 0.1 percent higher at 5,221.6, while the FTSE 250 was up 0.4 percent to 7,467.4.

The mining sector was higher as copper prices hit a new peak. Anglo American gained 2.6 percent to £13.73, Antofagasta was up 1.2 percent to £12.93, and Rio Tinto rose by 1.3 percent to £18.62.

BHP Billiton added 1.3 percent to 782p on the news that it has entered into a joint venture with Japan’s biggest steel producer, JFE, in a deal expected to be worth $4.3 billion.

In the power sector, Centrica, the UK’s biggest gas and electricity supplier, saw its shares rise on the news that its rival Powergen has raised rates to residential users by 12 percent for gas and 7 percent for electricity. Shares in Centrica gained 2.6 percent to 230 ¾p.

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