Friday’s Master Investor Market Report

The FTSE 100 closed the day at 6,418.76, an increase of 43.94 points.

The FTSE 250 rose by 78.93 points to finish at 17,082.74.

The FTSE All Share climbed by 22.37 points to 3,509.53.

The FTSE AIM All Share finished at 735.89, up by 3.00 points.
Miner Glencore (GLEN) has announced that it will cut its annual zinc production by roughly a third in the face of declining prices. Management said that they were focused on maintaining the value of its reserves under current market conditions. Some Australian and Peruvian operations will be halted completely while others will slow output. Glencore shares climbed by 7% to 129.10p.

Iodine production specialist Iofina (IOF) up production by 88% in the third quarter despite some facilities having to be taken offline for maintenance ahead of schedule. Management are confident that the full year targets will be met. Shares in the Iofina shot up by 15.5% to 20.50p.

Online media outfit Blinkx (BLNX) has said that revenues for the six months ended 30th September were $90 million (£58.7 million), a significant drip from the comparable period of the previous year. The company has warned that, due to a poor performance in the second quarter, it will post an operating loss for the half year. Blinkx shares rose by 0.25p to 28.25p.

Monday’s news today

YouGov (YOU) and Tristel (TSTL) will publish final results on Monday.

Quote of the day

“Anything that won’t sell, I don’t want to invent. Its sale is proof of utility, and utility is success.”
– Thomas Edison