FTSE 100 movers: miners rally; Rolls-Royce wins on Meggitt News
London’s FTSE 100 was up 0.7% to 7,121.96 in Friday afternoon trading.
Minors Anglo-American and Glencore were both in the dark as metal prices rebounded.
Neil Wilson, Chief Market Analyst at Markets.com, said: “A monster commodity rally continues as the global economy heats up, and a massive but messy rotation between technology / growth / momentum is playing out in more cyclical / value parts of the market.
“Copper has reached a record level, aluminum is prolonging its gains. Palm oil hit a 13-year high, iron ore and steel at record highs.
Rolls Royce was on a steep rise, with traders pointing to cross-reads news of the FTSE 250 aerospace engineer deal Meggitt. The latter’s shares were significantly higher following a report that Woodward could seek to buy the group.
According to Dealer, Woodward is working with an investment bank as she reviews potential deals and Meggitt is in the frame.
FTSE 100 – Risers
Anglo-American (AAL) 3,396.00p 4.00%
Ocado Group (OCDO) 1,970.00p 3.68%
Glencore (GLEN) 322.35p 3.22%
Barclays (BARC) 182.16p 2.86%
Rolls-Royce Holdings (RR.) 106.28p 2.79%
Intermediate capital group (ICP) 2,127.00p 2.75%
Compass Group (CPG) 1,611.50p 2.42%
Avast (AVST) 462.40p 2.21%
Pearson (PSON) 844.60p 2.20%
NATWEST GROUP PLC ORD 100P (NWG) 201.00p 2.19%
FTSE 100 – Fallers
Antofagasta (ANTO) 1,893.50p -1.64%
Berkeley Group Holdings (La) (BKG) 4,711.00p -0.86%
BT Group (BT.A) 169.75p -0.85%
Unilever (ULVR) 4 275.50p -0.67%
Croda International (CRDA) 6,714.00p -0.47%
Standard charter (STAN) 517.60p -0.46%
HSBC Holdings (HSBA) 453.05p -0.46%
Mondi (MNDI) 1,957.50p -0.38%
Place St James (STJ) 1,389.00p -0.36%
Johnson Matthey (JMAT) 3,257.00p -0.25% a