Sector movers: Imperial cashes in on duty-free
Imperial Tobacco has clawed back some of the cost of its takeover of Altadis by selling off 273 duty free shops and museum stores owned by the Spanish tobacco company.
Italian restaurant operator Autogrill is to pay €273m to take the retail outlets off Imperial's hands.
Miners are out of sorts today, as metal prices come off the top.
Hambledon Mining is sharply lower after announcing the partial restart of production at its gold mine in Sekisovskoye, following the completion of an investigation into a boiler accident which killed the boiler operator.
The investigation concluded that the explosion occurred as a result of incorrect adjustment of the fuel-air mixture, and this, in turn, was caused by incorrect procedures being followed by Hambledon employees, modifications to the boiler made by employees and manufacturing faults in the boiler.
The committee conducting the report stipulated that four employees be removed from their positions, and one of these employees has subsequently been dismissed. Three other employees have been fined.
The company said that present indications are that it has sufficient cash reserves to keep operating but it is negotiating a stand-by facility with its bankers in case the need arises for more funds.
Top performing sectors so far today
Tobacco 24,276.10 +1.88%
Food & Drug Retailers 4,741.10 +1.02%
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Oil & Gas Producers 7,483.30 +0.76%
Media 3,464.60 +0.26%
Electricity 7,084.20 +0.17%
Bottom performing sectors so far today
Mining 24,017.30 -4.91%
Industrial Metals 8,195.00 -4.08%
Health Care Equipment & Services 3,846.60 -2.94%
Chemicals 5,111.60 -2.66%
Travel & Leisure 4,712.90 -2.33%
