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FTSE 100 movers: Miners buoyed by Greek deal

Mon, 13th Feb 2012 13:07

Antofagasta lead the risers, closely followed by its fellow miners, after the Greek deal sparked a rise in the euro against the dollar, sending greenback-denominated metals´ prices higher. Anglo American, Kazakhmys, Rio Tinto and Xstrata were all making gains of at least 2%, with Anglo American performing particularly strongly despite seeing its underlying earnings contribution from Anglo American Platinum fall from $425m to $410m in 2011. The Greek deal also gave the banking sector a lift. Lloyds in particular was performing well, shrugging off a sector-wide downgrade from Nomura. This morning the broker cut its rating for the bank from neutral to reduce, saying that both Lloyds and RBS are banking sector restructuring stories and therefore geared to market risk appetite; "we regard the current sector rally as a selling opportunity in what are likely to be drawn-out recovery projects in both cases," Nomura analysts said.Mobile telecoms giant Vodafone was also making gains after it confirmed it is running the rule over rival telecoms firm Cable and Wireless Worldwide (CWW). Vodafone said it is still in the very early stages of assessing whether to make a bid and indicated that if it were to do so, the offer would likely be in the form of cash for shares. FTSE 100 - RisersAntofagasta (ANTO) 1,371.00p +3.63%Lloyds Banking Group (LLOY) 35.72p +3.57%Kazakhmys (KAZ) 1,164.00p +3.56%Anglo American (AAL) 2,839.00p +3.37%Xstrata (XTA) 1,233.00p +2.92%Fresnillo (FRES) 1,803.00p +2.79%Rio Tinto (RIO) 3,869.50p +2.58%Aviva (AV.) 369.90p +2.38%Man Group (EMG) 133.40p +2.38%Ashmore Group (ASHM) 397.80p +2.29%FTSE 100 - FallersCarnival (CCL) 1,935.00p -1.38%Reckitt Benckiser Group (RB.) 3,512.00p -0.82%Polymetal International (POLY) 1,115.00p -0.80%Marks & Spencer Group (MKS) 348.70p -0.43%Evraz (EVR) 410.30p -0.41%G4S (GFS) 278.90p -0.25%Tesco (TSCO) 320.00p -0.20%International Consolidated Airlines Group SA (IAG) 177.50p -0.17%Pearson (PSON) 1,186.00p -0.17%Meggitt (MGGT) 365.70p -0.11%NR

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