The FTSE-100 finished Friday's session 1.09% lower at 7,092.43, whilst the FTSE AIM All-Share index was down 1.53% at 1,006.06. In continental Europe, the CAC-40 finished 1.41% lower at 5,079.21 whilst the DAX was down 1.25% at 12,107.48.
Last Friday in New York, the Dow Jones regained 330.44 points, or 1.38%, to end the session at 24,190.9. The S&P-500 added 38.55 points, or 1.49%, to close at 2,619.55 and Nasdaq finished 97.33 points higher at 6,874.49.
In Asia this morning, the Nikkei 225 was closed. Elsewhere, the Hang Seng was 220.79 points higher at 29,728.21 heading into the close and the Shanghai Composite was up 20.44 points at 3,150.29.
At around 6:15am, WTI crude was 1% higher at $59.79 per barrel and Brent was up 0.83% at $63.31 per barrel.
Aldi tops supermarket satisfaction survey
Aldi has been rated the UK's best supermarket, nudging previously top-ranked Waitrose down to fourth place. Customers criticised Aldi stores for being "untidy" and for a lack of staff availability, but rated them highly for offering value for money, according to consumer group Which?. Marks and Spencer was second, winning marks for store appearance and product quality. Lidl ranked third. The large supermarkets fared worst, with Sainsbury's ranked last of nine. The survey, conducted last October, asked customers to rate their supermarket shopping experiences in the past six months. The chains are scored on customer satisfaction and whether they would recommend the store to a friend. Waitrose, Tesco, Morrisons and Sainsbury's lost marks over value-for-money compared to the discount chains. Which? said respondents praised the ease of finding items on shelves at Aldi. But both Lidl and Aldi scored poorly for queuing time, staff availability and for the range of products on offer. But they were marked up for the quality of their fresh and own-label products.
Source: BBC News
Savannah Resources (LON:SAV) 6.00p – Speculative Buy
Savannah Resources announced further drill results from its highly prospective lithium project, Mina do Barroso, in Portugal. To date, 87 RC holes totalling 7,081m have been drilled over three primary deposits confirming broad zones lithium mineralisation. Savannah holds a 75% interest in the Mina do Barroso lithium project which hosts numerous lithium deposits and covers an area of 1,018km2. Drill results from the Grandao deposit returned 59m grading 1.13% Li2O, 33m grading 1.22% Li2O, 31m grading 1.07% Li2O including 24m grading 1.31% Li2O, and 32m grading 0.89% Li2O including 17m grading 1.29% Li2O. In addition to these significant drill results, Savannah has identified new high priority targets to the north east of Grandao and will be drill tested. Further drilling on the NOA deposit has confirmed mineralisation over a 200m strike length with down dip extensions of at least 50m. Phase 2 of the metallurgical testwork is on-going with samples taken from all three deposits and results are expected in Q1 2018.
Our view: The above results are very encouraging given the continued thick intercepts and decent Li grades occurring near surface. The latest round of drilling highlights the expanding footprint of the Grandao deposit which should add to the overall resource of the Mina do Barroso project. Given that the global lithium demand is expected to double by 2025 on the back of the burgeoning battery market, Savannah is looking to capitalise on the lithium market with a strategic European lithium source. We look forward to further updates as the Company works towards new resource estimate for the Grandao deposit by the end of 2017 and metallurgical test results in early 2018. In the meantime, we maintain a Speculative Buy rating on the stock.
Beaufort Securities acts as corporate broker to Savannah Resources Plc