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FTSE 100 movers: Fresnillo shines; M&S in the red
(Sharecast News) - London's FTSE 100 was up 0.7% at 8,307.92 in afternoon trade on Thursday. Precious metals miner Fresnillo was the standout gainer as gold prices rose.
Miners Antofagasta, Anglo American and Rio Tinto were also in the black as copper prices rose.
Marks & Spencer was under the cosh despite the food and clothing retailer posting a 6.4% rise in UK third quarter like-for-like sales after a better-than-expected performance over the key Christmas period.
The company said sales came in at £3.9bn. Food revenue in the 13 weeks to 28 December increased 8.9% and 1.9% for home, clothing and beauty against expectations on 7.8% and 0.7% respectively.
Russ Mould, investment director at AJ Bell, said: "Dragging Marks & Spencer's shares down is the gloomy tone adopted in the outlook statement.
"While understandable given the impact of the Budget changes, sticky inflation and higher for longer rates, the comments chime with the current bleak mood around the UK's economic prospects."
FTSE 100 - Risers
Fresnillo (FRES) 674.50p 4.09% Antofagasta (ANTO) 1,728.50p 3.88% Anglo American (AAL) 2,444.00p 3.49% Intermediate Capital Group (ICG) 2,100.00p 2.44% Hikma Pharmaceuticals (HIK) 2,060.00p 2.28% Smith (DS) (SMDS) 566.50p 2.26% St James's Place (STJ) 839.00p 2.25% Rio Tinto (RIO) 4,827.00p 2.23% Melrose Industries (MRO) 567.60p 2.23% Rightmove (RMV) 642.20p 2.10%
FTSE 100 - Fallers
Marks & Spencer Group (MKS) 347.20p -7.86% Sainsbury (J) (SBRY) 263.20p -3.24% Centrica (CNA) 133.00p -2.39% Entain (ENT) 662.80p -2.36% Kingfisher (KGF) 229.80p -2.34% NATWEST GROUP (NWG) 383.90p -2.22% Land Securities Group (LAND) 547.50p -2.06% Next (NXT) 9,512.00p -1.74% Associated British Foods (ABF) 1,966.50p -1.72% Hiscox Limited (DI) (HSX) 1,074.00p -1.56%
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