FTSE falls on oil majors, financials

London stocks opened lower as oil majors suffered as the price of crude decline ahead of Opec's much-awaited meeting on Nov. 30, with the market jittery in its hopes for a production cap amid the global oil glut.

Otherwise financials, retailers and supermarkets figured lower.

Soon after the open, FTSE 100 was down 45.78 points, or 0.67%, to 6794.97, while FTSE 250 was down 63.76, or 0.36%, to 17,539.7. At 8.36am, WTI crude was down 1.32% to $45.45/bbl and Brent was down 1.31% to $46.62/bbl. Gold was up 1.23% to $1195.5/oz.

Among oilies, Shell (RDSA) was off 1.62% to 1978.5p and BP (BP.) was lower 1.39% to 448.63p. Financials followed RBS (RBS), down 2.43% to 196.6p, Hargreaves Lansdown (HL.), off 2.18% to 1188.5p and Barclays (BARC), lower 1.86% to 211.5p.

In the wider retail sphere, Next (NXT) lost 1.4% to 4881.5p, while Burberry (BRBY) ebbed 1.57% to 1413.5p. Tesco (TSCO) flopped 1.34% to 209.35p and Sainsbury (SBRY) faded 1.23% to 233.1p. Also down were airlines after easyJet (EZJ) and house builders behind Taylor Wimpey (TW.).

Blue chips down numbered about 85, with just 15 blue chips making gains. Among those rising were gold specialists Fresnillo (FRES), up 2.03% to 1257p, and Randgold (RRS), up 1.79% to 5822.5p. Also up were US rates-senstive utilities after Centrica (CNA), up 1.45% to 207.5p.

Antofagasta (ANTO), up 0.03% to 722.75p, said following the closure of the Michilla mine at end-2015 it has signed an agreement to sell Minera Michilla SA to Haldeman Mining Company SA, for $52m.

BIGGER MOVERS

JD Sports Fashion (JD.), down 79.9% to 321p, has acquired Go Outdoors Topco for £112.3m in cash with the group also assuming net debt of approximately £16m. JD Sports says this acquisition will complement the group's existing significant interest in the outdoor market.

Trakm8 (TRAK), down 31.89% to 126p, has posted an H1 pretax profit of £0.3m, down from £1.2m. Revenue totalled £13.2m, from £11.7m. It has also been awarded a contract by Smart Driver Club to supply devices and data services for the launch of its Smartbubble service solution.

LONDON HIGHLIGHTS

Kainos Group (KNOS), down 7.63% to 218p, has posted an H1 statutory pretax profit of £6.5m, up 25% on a year ago. Interim dividend was 1.9p a share, up 6%. Kodal Minerals (KOD), up 6.45% to 0.08p, has announced further acquisitions of prospective lithium projects in southern Mali.

Tlou Energy (TLOU), up 5.17% to 7.62p, has extended a co-operation agreement with General Electric International Inc. (GE) and IK Holdings Pty Ltd (IK Holdings) for the delivery of a proposed gas to power solution for Botswana.

Cerillion (CER), up 4.76% to 132p, reports encouraging results following its admission to AIM and confirms a follow-on contract worth US$2.8m. Annualised revenue for the year to end-September was up 6% to £14.8m (2015: £14.0m).

Aberdeen Asset Management (ADN), up 4.61% to 299.3p, said its AuM rose to £312.1bn in the year to end-September (2015: £283.7bn). Net revenue fell 14% to £1,007.1m (2015: £1,169.0m) and underlying profit before tax fell to £352.7m (2015: £491.6m).

Berkeley Energia (BKY), up 4.52% to 46.25p, has signed a binding off-take agreement with Interalloys Trading Ltd for the sale of the first production from the Salamanca mine.

Haydale Graphene Industries (HAYD), up 4.47% to 187p, said subsidiary Haydale Composite Solutions has formally agreed a joint development agreement with Huntsman Advanced Materials.

Savannah Resources (SAV), up 3.57% to 7.25p, has begun high-powered ground electromagnetic (EM) surveys at three priority targets in its highly prospective Block 4 and 5 properties in the Sultanate of Oman, which are prospective for copper and gold.

Totally (TLY), up 2.59% to 59.5p, notes that operating subsidiary About Health Ltd has been awarded a one-year contract extension with NHS Lancashire North Clinical Commissioning Group (CCG).

Tissue Regenix (TRX), up 2.33% to 16.5p, said the early clinical data provided to support the CE mark application for OrthoPure XT (porcine tendon) has shown results highlighting the clinical relevance of the product.

Other stocks in the news included Nanoco (NANO), Venture Life (VLG), Victoria Oil & Gas (VOG), Empiric Student Property (ESP), Dunelm (DNLM), Rosslyn Data Technologies (RDT), Hurricane Energy (HUR), Etalon (ETLN), Pires Investments (PIRI), Metal Tiger (MTR), Akers Biosciences (AKR), Bushveld (BMN), Lavendon (LVD), Stride Gaming (STR) and Sirius Real Estate (SRX).