FTSE 100 movers: Miners rally; SSE in the red

by | Jul 20, 2023

(Sharecast News) – London’s FTSE 100 was up 0.8% at 7,649.00 in afternoon trade on Thursday.
Anglo American, Glencore, Antofagasta and Rio Tinto all rose. Anglo American was also in focus after it said that first-half production had grown 42%.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said miners were boosted by expectations of Chinese stimulus.

“Oil prices have steadied around $79 a barrel amid expectations of lower demand in China, as investors still waiting for more detail about what further economic stimulus from Chinese authorities will look like,” she said. “The expectation that levers will be pulled to boost domestic demand across the world’s second largest economy has helped push up commodity stocks.”

M&G advanced after saying it remained on track to meet its financial targets, despite adopting new accountancy standards.

On the downside, SSE fell as it reiterated its full-year earnings guidance despite dry, still weather hitting renewables output.

FTSE 100 – Risers

Anglo American (AAL) 2,391.00p 3.82%
Glencore (GLEN) 469.30p 3.50%
Antofagasta (ANTO) 1,533.00p 3.13%
Abrdn (ABDN) 237.10p 2.60%
M&G (MNG) 204.50p 2.58%
Burberry Group (BRBY) 2,249.00p 2.51%
Haleon (HLN) 334.00p 1.98%
Next (NXT) 7,186.00p 1.87%
Rio Tinto (RIO) 5,186.00p 1.77%
Barratt Developments (BDEV) 462.00p 1.76%

FTSE 100 – Fallers

Entain (ENT) 1,258.00p -1.95%
Flutter Entertainment (CDI) (FLTR) 15,420.00p -1.75%
Scottish Mortgage Inv Trust (SMT) 699.40p -1.74%
Croda International (CRDA) 5,730.00p -1.51%
Rightmove (RMV) 560.40p -1.37%
Unilever (ULVR) 4,033.50p -1.26%
Lloyds Banking Group (LLOY) 46.15p -1.18%
SSE (SSE) 1,777.50p -1.14%
Diageo (DGE) 3,408.00p -1.13%
Legal & General Group (LGEN) 234.30p -1.06%

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