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FTSE rises on higher copper price and stronger miners

05 October 2017 16:52

An earthquake in Chile triggered a 2.6% rally in the price of copper to approximately $3 per pound due to suspected supply disruption.

The earthquake lifted shares in miners and boosted the FTSE 100 by 0.5% to 7,507.

One of the largest copper producers Antofagasta (ANTO) jumped 2% to 993.5p. Anglo American (AAL) and Glencore (GLEN) sparked 3% and 1.9% higher, respectively.

Brent crude oil surged 2.2% to $57 per barrel.


Media reports suggest that Thorpe Park operator Merlin Entertainments (MERL) approached SeaWorld Entertainment about a potential deal, driving the share price 0.8% higher to 451.9p.

EasyJet (EZJ) failed to take off at £12.84 despite the low-cost airline carrying 11% more passengers in September and increasing its load factor - the percentage of available seats occupied by customers.

Insurer Aviva (AV.) acquired a majority holding in 'robo' investment service provider Wealthify Group, but this failed to excite investors as the stock was flat at 490.5p.

Elsewhere, infrastructure group Balfour Beatty (BBY) dipped 0.4% to 267.2p after agreeing to sell US engineering firm Heery International to a subsidiary of CBRE Group for $57m.

Iron miner Ferrexpo (FXPO) revealed a slide in pellet production due to its ongoing maintenance programme. Investors were undeterred by the news as the stock was broadly unmoved at 301.1p.


Sofas seller DFS Furniture (DFS) was in the spotlight following a huge hit to profits in the year to 31 July due to a 'very challenging' UK market. The market had already priced much of this bad news in however, so the shares fell just 4.1% to 215.8p.

Shares in toilet roll specialist Accrol (ACRL) were suspended as it warns on profit and begins talks with lenders after revealing net debt will be higher than anticipated.

Unlisted nightclub operator Deltic Group set out plans to merge with bar operation Revolution Bars (RBG), which if approved would leave Revolution shareholders with a 65% stake in the combined business. Shares in Revolution fell 1.6% to 207p.

Lead-zinc exploration firm Ferrum Crescent (FCR) said it may not need to raise $2.7m to build value at its Toral lead zinc asset as the costs were lower than expected. Investors were relieved as the stock surged 53.6% to 0.05p.

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Related Company: MERL

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