logo-loader

FTSE100 closes lower as small caps outshine

Published: 17:40 21 Apr 2016 BST

parliament_at_nightime,_sized_571902f77dadb

FTSE100 closed down around 28 points as small cap shares outshone their bigger cousin.

The UK benchmark closes at 6,381 as traders mulled worse-than-expected UK retail sales data the ECB move to keep its interest rate and asset purchase programme as was.

Miners were down with Anglo American (LON:AAL) the biggest laggard, with Sky (LON:SKY), also shedding 4.18% to 985p as the group revealed that its turnover of customers had increased amid growing competition from the likes of BT (LON:BT.A).

Sky won fewer new customers in the latest quarter than it had in the preceding three months, but boosted revenue by 5% to £8.7bn in the nine months to March.

The big small cap winner was Strategic Minerals (LON:SML), up 38.71% to 0.22p as the miner revealed planning of the maiden drilling programme at Hanns Camp nickel-copper sulphide prospect in Australia was underway.

Hanns Camp forms part of the Laverton Project, in which Strategic has a stake via its acquisition of up to half of Central Australian Rare Earths. The shares soared 0.06p, or 38.7%, to 0.22p.

Other junior miners were also doing well.  Copper miner Weatherly International (LON:WTI) gained over 23% on the day to 0.65p each.

Oil stocks were not so slick.

US onshore focused Northcote Energy (LON:NCT) fell 25% to 0.04p after it completed a placing of 1.59mln shares at 0.0315p to raise £500,000.

It will use the cash to complete the Mayan Drilling Fluids remediation plant while keeping adequate working capital and flexibility to consider other strategic opportunities.

But Range Resources (LON:RRL) spurted almost almost 24% higher to 0.57p on news that it had found oil-bearing zones in the first of four development wells to be drilled in Trinidad.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

1 hour, 18 minutes ago