You are here: Home - Investing -

FTSE 100: This morning’s risers and fallers

Written by:
UK stocks were making decent gains on Friday morning after a positive session in Asia overnight as comments from Chinese Premier Li Keqiang sparked hopes that measures to stimulate growth in the region could be on their way.

Heavyweight mining stocks were performing well on the back of this speculation as metal prices advanced, lifting the FTSE 100 0.5% higher to 6,622 in early trading. The index is set to finish at its highest closing level since March 11th.

Li, speaking at a government meeting in Shenyang, reportedly said that policymakers “should launch well-targeted, effective measures one after another according to our tasks stated in the Government Work Report”.

He said that the government should not overlook “downward risks” to the economy and has the “ability, confidence and conditions to make sure the economy runs within a reasonable range”.

“Analysts believe China could implement measures to boost stimulus after a string of deteriorating data has shown the economy is struggling,” said Lee Mumford, Financial Sales Trader at Spreadex.

On today’s economic data calendar, there will be a final revision to UK gross domestic product growth forecasts this morning, along with economic confidence figures from the Eurozone and spending data in the US.

Miners jump on Chinese stimulus hopes

Mining stocks were leading the risers this morning as investors ramped up their appetite for risk amid hopes of Chinese stimulus. Fresnillo, Anglo American, Rio Tinto, Glencore Xstrata, Antofagasta and BHP Billiton were all putting in decent gains.

Royal Mail was also higher after RBC Capital upgraded its rating for the postal group to ‘outpeform’.

Leading the downside were insurance stocks on reports that the Financial Conduct Authority is investigating 30m policies sold by insurers between the 1970s and 2000. Resolution, Legal & General, Aviva, Standard Life, Prudential, Phoenix and Partnership Assurance falling sharply.

On AIM, the share price of radiation technology group Kromek plummeted after it warned that revenue for the year ending April 30th will be “significantly below current market expectations” due to delays in a number of large contracts. Kromek, which listed in London in October, had previously expected to break even this year but now predicts making a loss.

FTSE 100 – Risers
Fresnillo (FRES) 862.50p +2.99%
Glencore Xstrata (GLEN) 315.75p +2.82%
Anglo American (AAL) 1,526.50p +2.66%
Rio Tinto (RIO) 3,343.50p +2.09%
Royal Bank of Scotland Group (RBS) 308.20p +2.09%
Smith & Nephew (SN.) 918.00p +2.00%
Randgold Resources Ltd. (RRS) 4,566.00p +1.78%
Antofagasta (ANTO) 841.50p +1.69%
BHP Billiton (BLT) 1,863.00p +1.66%
Sports Direct International (SPD) 878.00p +1.50%

FTSE 100 – Fallers
Resolution Ltd. (RSL) 286.30p -10.25%
Aviva (AV.) 453.10p -6.29%
Legal & General Group (LGEN) 201.70p -5.04%
St James’s Place (STJ) 824.00p -2.54%
Standard Life (SL.) 376.60p -2.51%
Prudential (PRU) 1,292.00p -1.75%
Kingfisher (KGF) 420.60p -0.71%
Old Mutual (OML) 200.40p -0.40%
Babcock International Group (BAB) 1,270.00p -0.39%
Petrofac Ltd. (PFC) 1,429.00p -0.21%

Source: ShareCast

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week