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FTSE 100 movers: BG Group leads the charge as resource stocks jump

Tue, 07th Apr 2015 16:05

Resource stocks were the best performers in London on Tuesday afternoon as risk appetite returned after the long weekend, with BG Group leading the charge after buying a 78% stake in blocks IV and V in central Mongolia from Petro Matad.Meanwhile, after a four-day break on the stock market for Easter, investors across the sector were reacting to the recent increase in crude prices, with Shell and BP also putting in decent gains.Shares in pharma firm Shire rose after announcing that it has reached an agreement with the US Food and Drug Administration on a clear regulatory path for a potential attention-deficit/hyperactivity disorder (ADHD) treatment for adults.Mining stocks were also performing well, including Rio Tinto after completing a bigger-than-expected off-market share buyback due to strong demand. Copper miner Antofagasta was also higher after Jefferies kept a 'buy' rating, saying: "We expect Anto's strengths to lead to share price outperformance during the current period of macro weakness."British Airways owner IAG was among the handful of fallers after JPMorgan Cazenove downgraded its recommendation from 'overweight' to 'neutral', saying it favours low-cost carriers strongly over legacy airlines.Shares in telecoms giant Vodafone were on the rise after UBS highlighted the possibility of a bid from US cable operator Liberty Global.UK food and clothing retailer Marks & Spencer had its rating promoted to 'buy' from 'hold' over at Societe Generale.FTSE 100 - RisersBG Group (BG.) 910.20p +6.72%Shire Plc (SHP) 5,380.00p +4.26%Rio Tinto (RIO) 2,860.00p +3.96%Royal Dutch Shell 'B' (RDSB) 2,207.50p +3.81%Sainsbury (J) (SBRY) 269.90p +3.65%Taylor Wimpey (TW.) 158.60p +3.52%Royal Dutch Shell 'A' (RDSA) 2,093.00p +3.38%Coca-Cola HBC AG (CDI) (CCH) 1,322.00p +3.36%Glencore (GLEN) 289.85p +3.24%Associated British Foods (ABF) 2,953.00p +3.04%FTSE 100 - FallersInternational Consolidated Airlines Group SA (CDI) (IAG) 590.00p -1.42%Direct Line Insurance Group (DLG) 318.10p -0.47%Burberry Group (BRBY) 1,712.00p -0.17%easyJet (EZJ) 1,843.00p -0.05%Aberdeen Asset Management (ADN) 464.70p -0.04%

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