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MARKET CLOSE - FTSE100 ends positively as Jackson Hole in focus

Published: 12:54 21 Aug 2014 EDT

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Britain's blue chips ended the day positively - up over 22 points - despite mining stocks takling a hit  and a clutch of weak global data.

AstraZeneca (LON:AZN), the pharma major, was the top gainer, on speculation the US group Pfizer may make another bid.

Also in focus is the Jackson Hole gathering of Central bankers in Wyomin, which kicks off this weekend, with a topic of labour market dynamics on the agenda.

Footsie closed up 0.33% at 6,777. Across the pond, stocks were powering ahead too with the Dow Jones up 70 points.

China manufacturing data was weak - dropping to a three-month low in August, it emerged, while Eurozone data measuring manufacturing and services also took a hit this month.

Meanwhile, in the UK, the High Street was in focus and the shopping habits of millions - as UK retail sales growth came in at just 0.1% last month, missing analyst estimates.

The weak Chinese data did for the diggers and silver giant Fresnillo (LON:FRES) was down 3.55%, while Antofagasta (LON:ANTO) fell 1.28%.

Randgold Resources (LON:RRS) dropped 1.86% to stand at 4,904p.

In the UK, energy firms were also in focus as Labour's energy shadow Caroline Flint launched the party's latest broadside on the under fire sector.

The plans aim to crackdown on their abuses and behaviour towards thousands of beleagured customers.

Suppliers that repeatedly break rules could have their licences to operate stripped from them. That said Centrica, which owns British Gas, gained 0.38%, while SSE added 0.20%.

On AIM, Quindell (LON:QPP) shares  fell over 12%  despite announcing impressive looking first half numbers.

The insurance claims outsource specialist saw revenues rise by 119% in the six months to June, with underlying profits 156% higher at £153.6mln.

Quindell’s finances have been under intense scrutiny following a highly critical report by Gotham City Research, a US hedge fund backed website, in April, which sent its share price tumbling. 

Among the notable small cap risers was palm oil producer DekelOil (LON:DKL), which rose 10.64%.

It comes as broker N+1 Singer has initiated coverage on the stock.

The firm's mill was commissioned in the first quarter this  year and is already profitable, it points out.

The broker expects EBITDA to be €2.1mln in the full year 2014, rising to €12.7mln once fully operational, It forecasts taht will be 2017.

Mosman Oil & Gas (LON:MSMN) shares were also doing well today - up over 19%.

Last week, it told investors that initial laboratory analysis has confirmed the presence of “moveable” crude oil in the Crestal 1 well.

The findings reveal the oil from Crestal 1 has similar qualities to the nearby Kotuku oil seeps which have been extensively analysed since they were first observed more than 100 years ago.

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