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FTSE 100 movers: Chinese data fuels demand for miners

Wed, 13th Jul 2011 14:09

A better-than expected rise in Chinese gross domestic product spurred a rally in metals prices, helping gains for the miners.Fresnillo, Randgold Resources and Kazakhmys were among the highest risers on Wednesday afternoon.Mining titan Xstrata was also in demand after taking full control of the Pallas Green zinc project in Ireland, buying out the 23.6% interest held by its joint venture partner, Minco, for $19.4m. Iconic British luxury brand Burberry also jumped higher after underlying sales soared by 34% in the first quarter, driven largely by strong retail growth in China. "We are pleased with Burberry's start to the year, with double-digit growth balanced across retail and wholesale and all regions and product categories," said chief executive officer Angela Ahrendts. However, Marks & Spencer was the worst performer despite seeing sales (excluding VAT) rise by 3.2% in the 13 weeks to 2 July, compared with the year before. Like-for-like (lfl) sales in the UK were flat on the general merchandise sales side, in line with the prediction made by broker Matrix Group, while food sales grew 3.3% on a lfl basis year-on-year, ahead of Matrix's forecast of 3.0% growth. Sector peers Next and Kingfisher also fell into the red.British Sky Broadcasting has fallen lower after Sky News exclusively revealed that Rupert Murdoch's News Corp has withdrawn its bid for the satellite broadcaster.BCFTSE 100 - RisersFresnillo (FRES) 1,511.00p +4.93%Burberry Group (BRBY) 1,491.00p +3.76%Randgold Resources Ltd. (RRS) 5,335.00p +2.30%IMI (IMI) 1,085.00p +1.97%Kazakhmys (KAZ) 1,338.00p +1.90%Land Securities Group (LAND) 856.00p +1.60%InterContinental Hotels Group (IHG) 1,281.00p +1.43%John Wood Group (WG.) 675.50p +1.35%Weir Group (WEIR) 2,146.00p +1.32%British Land Co (BLND) 598.00p +1.27%FTSE 100 - FallersMarks & Spencer Group (MKS) 361.10p -3.19%Royal Bank of Scotland Group (RBS) 35.02p -2.70%ARM Holdings (ARM) 582.50p -2.35%British Sky Broadcasting Group (BSY) 678.50p -1.95%Next (NXT) 2,371.00p -1.62%Kingfisher (KGF) 254.40p -1.51%Man Group (EMG) 242.80p -1.46%Admiral Group (ADM) 1,551.00p -1.40%Reckitt Benckiser Group (RB.) 3,451.00p -1.40%Intertek Group (ITRK) 1,890.00p -1.25%

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