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FTSE 100 movers: Miners on the up again

Thu, 14th Jan 2010 15:29

Miners kept Footsie in the blue yet again, with Xstrata, Rio Tinto, Kazakhmys and Antofagasta among the best performers.Rio Tinto hailed another very strong quarter for iron ore production, driven by continuing high demand from China' as it published its fourth quarter operations review. The company is seeing recovery across most of its key commodities but remains cautious about the global economy going into 2010.Retailers, though, were mixed. Primark and British Sugar owner Associated British Foods was one of the few risers. The group had a better than anticipated end to 2009 and expects a 'significant increase' in operating profits in 2010. Group revenue in the 16 weeks to 2 January was 17% higher than in the corresponding period of the previous year, or 11% on a constant currency basis.Elsewhere, the retail picture was more uncertain. Home Retail was the main blue chip faller despite saying that it thinks full-year profit will beat consensus estimates by £20m. Sales rose, but margins took a hit to get there, which unsettled investors. Fellow DIY stores owner Kingfisher fell in sympathy.On the broker front, Morgan Stanley moved Wolseley up to overweight from equalweight and its target up to £16.50 from £16.FTSE 100 - RisersXstrata (XTA) 1,222.00p +4.18%Wolseley (WOS) 1,500.00p +3.38%Antofagasta (ANTO) 1,033.00p +3.30%Legal & General Group (LGEN) 85.50p +3.07%Rio Tinto (RIO) 3,645.00p +3.01%Eurasian Natural Resources (ENRC) 1,012.00p +3.00%Lloyds Banking Group (LLOY) 57.64p +2.93%Carnival (CCL) 2,241.00p +2.80%FTSE 100 - FallersHome Retail Group (HOME) 265.40p -6.38%Marks & Spencer Group (MKS) 358.20p -2.77%Bunzl (BNZL) 651.00p -2.03%British Land Co (BLND) 458.50p -1.61%Kingfisher (KGF) 227.00p -1.60%Liberty International (LII) 487.00p -1.14%Burberry Group (BRBY) 579.00p -1.11%Land Securities Group (LAND) 686.50p -1.08%

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