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FTSE 100 movers: StanChart hit after Q3 results, miners gain on softer dollar
(Sharecast News) - Emerging markets focused StanChart had fallen to the bottom of the pile in late trading on Thursday following the release of its third quarter financials.
Commenting on the lender's post-results call, Dow Jones Newswires cited analysts at Citi according to whom there was a "focus on remaining risk in the bank's Chinese commercial real estate portfolio.
"In addition, we felt management was relatively cautious on the cost outlook," Citi analysts reportedly said in a note, whilst reiterating their neutral recommendation and high-risk rating.
Reckitt Benckiser was another top faller as while it beat analysts' estimates for sales growth in the third quarter, sales volumes fell by 4.6% due to the economic headwinds.
Going the other way, the continuing retreat in the Greenback served to push metals' prices higher and miners' shares up with them.
As of 1426 BST, the US dollar spot index was slipping by 0.50% to 110.40, Comex gold futures for December delivery were up by 0.66% to $1,669/oz. and similarly-dated copper futures were ahead by 2.86% to $3.4940 a pound.
On that note, analysts at SP Angel were also telling clients to "expect copper prices to rise from December into the new year as potential for physical shortages gains."
Topping the leaderboard thus were shares of Antofagasta with precious metals miner Fresnillo not far behind.
Market Movers
FTSE 100 (UKX) 6,977.30 -0.52% FTSE 250 (MCX) 17,950.68 0.67% techMARK (TASX) 4,214.02 0.41%
FTSE 100 - Risers
Antofagasta (ANTO) 1,182.00p 3.10% Kingfisher (KGF) 218.40p 2.44% JD Sports Fashion (JD.) 100.60p 2.34% Fresnillo (FRES) 727.40p 1.85% Centrica (CNA) 69.68p 1.72% Frasers Group (FRAS) 657.50p 1.54% AstraZeneca (AZN) 9,897.00p 1.48% Barratt Developments (BDEV) 377.90p 1.34% Melrose Industries (MRO) 110.65p 1.33% Harbour Energy (HBR) 375.90p 1.32%
FTSE 100 - Fallers
Standard Chartered (STAN) 523.20p -5.63% Reckitt Benckiser Group (RKT) 5,642.00p -5.43% Scottish Mortgage Inv Trust (SMT) 741.20p -3.29% Diageo (DGE) 3,515.00p -3.15% Coca-Cola HBC AG (CDI) (CCH) 1,900.50p -2.71% WPP (WPP) 750.20p -2.52% Ocado Group (OCDO) 492.30p -2.48% Whitbread (WTB) 2,559.00p -2.40% Unilever (ULVR) 3,833.00p -2.38% Sage Group (SGE) 734.20p -1.61%
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