London’s blue chips drifted lower as some of froth blew off after a good run for share prices this week so far.
Footsie eased 7 points lower at 6,329 even though there were good gains for markets in the US and Shanghai where Chinese investors returned to the fray after the Golden Week break.
Precious metals specialists Randgold Resources (LON:RRS) and Fresnillo (LON:FRES) led the risers following healthy gains for gold and silver since the US jobs number last week cast a dampener on US rate rises.
Tesco also rallied again as analysts reflected on whether there were some straws to clutch in yesterday’s interim results even though profits fell by more than 50%. The shares added 3p today to 200p.
Hays (LON:HAS) dipped as the recruiter as sales growth of 8% just about meet estimates for the third quarter.
Sales growth at home wares seller Dunelm's (LON:DNLM) bricks & mortar estate picked up in the first quarter of the company's new financial year. Like-for-like (LFL) sales at its stores in the 13 weeks to 3 October were up 4.4% to £171.8mln. Shares rose 7p to 902p.
Most of the major moves were among the small caps.
Anthracite miner Atlantic Coal (LON:ATC) jumped 17% as it unveiled a second bullish update in as many days.
The AIM-listed anthracite coal mining company operating in Pennsylvania, said turnover in the first nine months of the year was up by around 26% year-on-year to around US$17.8mln from US$14.1mln in the same period of 2014.
Also busy on the news front this week has been Africa-focused airline fastjet (LON:FJET).
Shortly after being awarded its licence in Zimbabwe, the airline has signed a sales and distribution contract with global carrier Emirates.
Passengers of the Gulf-based group will be able use its sales channels to book tickets for fastjet’s network using a link between the two airlines’ reservations system. Shares rose 4% to 85p.
Sierra Rutile (LON:SRX) said it is firing on all cylinders, and investors bought in, sending shares 8.4% higher to 18.5p..
The latest update, covering the third quarter, revealed it produced its second-strongest ever quarter with output of 33,960 tonnes rutile.
Escher Group (LON:ESCH) has secured a contract to deliver and operate a digital communications platform for the London Local Enterprise Partnership. Shares rose 12p, around 6%, to 212p.
Machine-to-machine (M2M) communications leader Telit Communications (LON:TCM) said its modules will be deployed in a significant roll-out of smart meters in the Netherlands. Shares nudged 2p higher to 336p.