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FTSE 100 movers: Miners rally; housebuilders in the red again
(Sharecast News) - London's FTSE 100 was down 0.2% at 8,765.00 in afternoon trade on Wednesday. Oil giants BP and Shell gushed higher, along with heavily-weighted miners Glencore, Anglo American, Antofagasta and Rio Tinto. Banks were also on the rise, with HSBC and StanChart both up.
Dan Coatsworth, investment analyst at AJ Bell, said: "Commodity producers, financials, utilities and industrials led the way on the UK stock market. The fact both risk-on and defensive sectors moved higher would suggest a general sense of optimism among investors."
On the downside, housebuilders were under the cosh again, after data from Nationwide on Tuesday showed that house prices unexpectedly fell last month.
House prices declined by 0.8% on the month in June, following 0.4% growth in May. Analysts were expecting a 0.2% jump.
On the year, house price growth slowed to 2.1% last month from 3.5% in May.
The average price of a home stood at £271,619 in June, versus £273,427 a month earlier.
Persimmon, Berkeley Group, Barratt Redrow and Taylor Wimpey all fell.
FTSE 100 - Risers
BP (BP.) 382.05p 3.75% Glencore (GLEN) 301.05p 3.36% Anglo American (AAL) 2,240.50p 3.11% Antofagasta (ANTO) 1,884.50p 2.87% Melrose Industries (MRO) 533.20p 2.54% Spirax Group (SPX) 6,030.00p 1.94% Shell (SHEL) 2,622.00p 1.86% HSBC Holdings (HSBA) 885.70p 1.73% Standard Chartered (STAN) 1,200.50p 1.57% Rio Tinto (RIO) 4,323.00p 1.38%
FTSE 100 - Fallers
Convatec Group (CTEC) 250.80p -7.79% Persimmon (PSN) 1,217.00p -6.28% Berkeley Group Holdings (The) (BKG) 3,672.00p -6.04% The Sage Group (SGE) 1,170.00p -4.92% Barratt Redrow (BTRW) 432.90p -4.69% Land Securities Group (LAND) 604.00p -4.66% Taylor Wimpey (TW.) 113.15p -4.47% Severn Trent (SVT) 2,663.00p -4.00% Marks & Spencer Group (MKS) 342.70p -3.82% United Utilities Group (UU.) 1,116.50p -3.79%
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