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FTSE 100 movers: Miners take a hit

Fri, 25th Jan 2013 15:21


Miners tracked metal prices lower, with ENRC, Randgold, Evraz, Kazakhmys, Rio Tinto and BHP Billiton all making to top 10 biggest fallers.

Risk appetite was dampened by the news that the UK economy contracted by 0.3% during the fourth quarter of 2012, worse then the 0.1% GDP decline forecasted.

Mining group Xstrata bucked the trend after saying that the definitive estimate for the Las Bambas project in southern Peru is $5.2bn.

Polymetal gained after UBS upgraded its recommendation from to 'buy' and hiked its price target by 11%. The broker said: "We think that now is the right moment to use weakness in the stock price as potential merger with Polyus Gold may be a strong driver."

Airline IAG was a high riser today after JPMorgan Cazenove raised its rating for the stock to 'overweight'.

TUI Travel, the tour operator, saw its shares recover after the stock plummeted earlier in the week following the news that it no longer intended to make a merger offer with TUI AG.



FTSE 100 - Risers

TUI Travel (TT.) 292.70p +3.79%

Sage Group (SGE) 325.00p +2.17%

Polymetal International (POLY) 1,113.00p +2.11%

IMI (IMI) 1,191.00p +1.88%

Aberdeen Asset Management (ADN) 412.00p +1.60%

Reckitt Benckiser Group (RB.) 4,181.00p +1.55%

Associated British Foods (ABF) 1,700.00p +1.49%

International Consolidated Airlines Group SA (CDI) (IAG) 221.60p +1.47%

Rolls-Royce Holdings (RR.) 941.50p +1.29%

Imperial Tobacco Group (IMT) 2,418.00p +1.17%

FTSE 100 - Fallers

Randgold Resources Ltd. (RRS) 5,975.00p -3.08%

Kazakhmys (KAZ) 750.00p -2.60%

Evraz (EVR) 299.30p -2.48%

Eurasian Natural Resources Corp. (ENRC) 330.90p -2.45%

Hargreaves Lansdown (HL.) 708.50p -2.34%

Rio Tinto (RIO) 3,493.00p -2.29%

BHP Billiton (BLT) 2,093.50p -2.10%

Tullow Oil (TLW) 1,174.00p -1.92%

Antofagasta (ANTO) 1,252.00p -1.80%

Babcock International Group (BAB) 1,006.00p -1.57%

NR





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