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FTSE 100 movers: Miners lead index back over 6000

Mon, 22nd Feb 2016 14:16

(ShareCast News) - The FTSE 100 was back over 6,000 points on Monday, with the index up 106.09 points (1.78%) to 6,056.32.Miners led the market as commodity price were boosted following the recent rally in global equities.Anglo American was at the top of the list on reports that the company may sell De Beers' London headquarters, which would be the end of an era for the world's largest diamond company.Glencore, BHP Billiton, Antofagasta and Rio Tinto made up the rest of the top five."There is also perhaps optimism that soft China Business sentiment will result in more stimulus from Beijing and that the nation's new securities regulator will grease the wheels of the IPO market and get Chinese equities further from their recent lows, recovering lost ground not just this year, but since last summer," said Accendo Markets' Mike van Dulken.With oil prices on the rise again, BP and Royal Dutch Shell saw gains in their share prices. At 1512 GMT, West Texas Intermediate had surged 6.61% to $31.60 while Brent was up 4.82% to $34.60."For Saudi Arabia, the UAE, Iran, Russia, Venezuela and Qatar a shift away from output maximization mode risks a reversal of the market's perception," Barclays said in its latest Oil Market Outlook."If prices increase markedly on the perception that OPEC's attitude has changed, it could reduce their long-term market share."The 'freeze' is attractive because it gives the semblance of coherent and credible policy-making, while allowing countries the ability to do what they were going to do anyway."Housebuilders led the fallers after The Sunday Telegraph reported that the market is pricing in concerns of another recession, with shares in housebuilders down about 18% during the past six months.This hit British Land Company, Land Securities Group, Berkeley Group Holdings, Barratt Developments, Taylor Wimpey and Persimmon heavily.HSBC also fell after it missed full year profit consensus forecasts by 8%, after it missed fourth quarter targets even further.The bank posted a reported profit before tax of $18.9bn (£13.3bn) for the year to 31 December 2015, up a mere 1% from $18.7bn in 2014.However adjusted profit before tax dropped from $22.0bn to $20.4bn; below market consensus range of $22.0bn-$22.7bn. For the fourth quarter, adjusted profit before tax came in a $3.4bn, below consensus forecasts of $5.1bn.Adjusted operating expenses for the full year rose 5% to $36.2bn due to wage inflation, business growth and investment in regulatory programmes and compliance.The next big bank to post results is Standard Chartered tomorrow morning, which saw gains in its share price throughout the day.FTSE 100 - RisersAnglo American (AAL) 475.95p 9.00%Glencore (GLEN) 127.35p 7.56%BHP Billiton (BLT) 781.70p 6.73%Antofagasta (ANTO) 511.50p 6.45%Rio Tinto (RIO) 2,013.00p 6.42%Standard Chartered (STAN) 430.15p 3.75%Coca-Cola HBC AG (CDI) (CCH) 1,464.00p 3.61%Royal Dutch Shell 'A' (RDSA) 1,618.00p 3.52%BP (BP.) 355.25p 3.50%Aberdeen Asset Management (ADN) 246.80p 3.44%FTSE 100 - FallersBritish Land Company (BLND) 674.50p -2.60%Land Securities Group (LAND) 1,011.00p -2.41%Berkeley Group Holdings (The) (BKG) 3,288.00p -2.23%Barratt Developments (BDEV) 571.50p -2.22%Taylor Wimpey (TW.) 179.90p -2.07%Persimmon (PSN) 2,030.00p -1.55%HSBC Holdings (HSBA) 443.40p -1.43%Sainsbury (J) (SBRY) 257.80p -1.26%Kingfisher (KGF) 339.30p -0.82%Randgold Resources Ltd. (RRS) 6,320.00p -0.55%
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