Lonmin, Persimmons, Rolls Royce Rise

Mayank Mehta
16 Nov, 2009
New York City

UK stocks closed higher on a rally in commodities and metals. Miners including Xstrata Plc, Antofagasta and Lonmin gained. Persimmons new home bookings surged 50% from a year ago. Rolls Royce gained on new orders.

[R]4:00PM London, 11:00 AM New York – UK stocks closed higher on a rally in commodities and metals. Miners including Xstrata Plc, Antofagasta and Lonmin gained. Persimmons new home bookings surged 50% from a year ago. Rolls Royce gained on new orders.[/R]

UK stocks closed higher after commodities prices increased. The group of 21-nations known as APEC reiterated their commitment to keep the economic stimulus in place. The announcement lifted the prices of commodities, metals and energy.

In London FTSE 100 Index closed higher 91.54 or 1.7% to 5,387.92 and the pound edged higher to close at $1.674 and edged lower to close at €1.118.

Gainers & Losers

Amlin plc rose 1.1% to 381.10 pence an independent insurer said profits increased on 52% increase in premium to £1,374.6 million, low claims incidence, further run off profits from reserves and a strong investment performance.

Anglo American plc rose 3.1% to 2,629.00 pence.

ASOS plc fell 1.2% to 408.00 pence an online retailer of clothes and fashion accessories said first-half revenues rose 47% to £96.50 million from £65.71 million a year ago. Net profit for the first-half rose 9% to £3.16 million or 4.02 pence per diluted share compared to net profit of £2.90 million or 3.7 pence per share a year ago.

British Airways Plc closed unchanged at 217.00 pence.

Brammer plc the industrial services group closed unchanged at 130.00 pence.

Cranswick plc the pork products supplier rose 3.0% to 711.00 pence.

Domino''s Pizza UK & IRL plc the pizza franchisor advanced 0.4% to 318.30 pence.

Helphire Group plc which supplies replacement vehicles to drivers involved in accidents closed unchanged at 57.00 pence.

Interserve Plc slipped 1.1% to 232.90 pence and the company is selected in the new £4 billion project to build new schools, a partnership between the UK government and private contractors.

Lonmin Plc increased 8.0% to 1,720 pence surged after copper, gold and platinum prices increased. The company also guided better industry conditions.

Majestic Wine PLC added 3.2% to 253.00 pence after the wine warehouse chain said first-half quarter revenues rose 13.3% to £106.6 million from £94.11 million a year ago. Net profit for the first-half fell 92% to £4.32 million or 7.0 pence per diluted share compared to net profit of £3.91 million or 6.3 pence per share a year ago.

Moneysupermarket.com Group PLC added 4.0% to 83.25 pence after the price comparison website said as expected, trading in the first few weeks of fourth quarter, typically the Group’s weakest trading period, has been at least consistent with the trends seen in third quarter. The company reiterated its annual business outlook.

Persimmon PLC rose 2.8% to 473.10 pence after the home builder reported home sales for the next year of £500 million, a sharp rise of 50% from a year ago.

Rolls-Royce Group plc climbed 3.2% to 485.10 pence won a $110 million share in an order from DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise, for V2500 engines. The company also won orders from Air China Ltd and Ethiopian Airlines that may total as much as $2 billion.

Robert Wiseman Dairies PLC fell 0.5% to 480.00 pence after the dairy group said first-half revenues rose 7% to £423.94 million from £396.28 million a year ago. Net profit for the first-half was £14.91 million or 20.57 pence per diluted share compared to net loss of £9.93 million or 13.84 pence per share a year ago.

United Utilities Group PLC the engaged in water distribution fell 0.4% to 470.80 pence.

Victoria Oil & Gas Plc added 3.9% to 5.76 pence.

Workspace Group PLC fell 2.1% to 22.75 pence after the small business landlord said first-half quarter revenues fell 7% to £32.5 million from £35.0 million a year ago. Net loss for the first-half was £39.3 million or 3.7 pence per diluted share compared to net loss of £128.5 million or 56.5 pence per share a year ago.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 86 increased, 15 declined and 1 were unchanged.

RSA Insurance Group Plc decliners in the FTSE 100 index with a loss of 0.98% followed by losses in British Airways Plc of 0.78%, in Experian Plc of 0.59%, in Rentokil Initial Plc of 0.56%, in Admiral Group Plc of 0.39%.

Lonmin Plc led gainers in the FTSE 100 index with a rise of 9.30% followed by increase in Xstrata Plc of 7.79%, in Antofagasta Plc of 7.60%, in Rio Tinto Plc of 5.49%, in Randgold Resources Ltd. of 4.82%.