London’s FTSE 100 was down 0.2% at 7,265.80 in afternoon trade on Wednesday as investors digested details of Chancellor Rishi Sunak’s autumn Budget.
Admiral was under the cosh after Munich Re sold 12.1m shares in the insurer in a placing at 2,940p each.
Miners Glencore and Anglo American retreated as copper and other base metals prices fell.
Fresnillo lost its shine after the mining company reported lower silver and flat gold production in the third-quarter as it warned of the impact of labour shortages and inflationary pressures.
Going the other way, Entain was among the top risers, having tumbled on Tuesday after US-based DraftKings said it was not planning to make an offer for the owner of Ladbrokes and Coral.
Housebuilders Taylor Wimpey, Berkeley and Barratt Developments gained even after the Chancellor said residential property developers face a new cladding tax.
FTSE 100 – Risers
SEGRO (SGRO) 1,321.00p 1.73%
Entain (ENT) 2,036.00p 1.70%
SSE (SSE) 1,654.00p 1.66%
Taylor Wimpey (TW.) 154.65p 1.64%
Compass Group (CPG) 1,519.00p 1.64%
Bunzl (BNZL) 2,649.00p 1.53%
Berkeley Group Holdings (The) (BKG) 4,383.00p 1.53%
Sainsbury (J) (SBRY) 306.00p 1.53%
Barratt Developments (BDEV) 675.60p 1.32%
National Grid (NG.) 934.70p 1.29%
FTSE 100 – Fallers
Admiral Group (ADM) 2,866.00p -5.94%
Pearson (PSON) 605.00p -3.32%
Glencore (GLEN) 359.60p -2.78%
Royal Mail (RMG) 415.10p -2.35%
Flutter Entertainment (CDI) (FLTR) 14,255.00p -2.20%
Darktrace (DARK) 718.00p -2.11%
Fresnillo (FRES) 867.80p -2.05%
Anglo American (AAL) 2,763.50p -1.95%
Barclays (BARC) 199.54p -1.61%
Hargreaves Lansdown (HL.) 1,551.00p -1.52%
