FTSE 100 movers: Miners rally as copper surges; Shire in the black
London’s FTSE 100 was up 0.3% to 7,615.15, hitting a fresh record in afternoon trade on Wednesday amid holiday-thinned volumes, with miners providing much of the upside.
Heavily-weighted mining stocks rallied as copper prices hit a three-and-half year high amid news that Jiangxi Copper, the largest Chinese producer, has been told to halt production for at least a week before further assessment to combat pollution levels. Prices were also underpinned by expectations of strong demand from China next year.
Glencore, Rio Tinto, Anglo American, Antofagasta and BHP Billiton all rose, while precious metals miner Fresnillo shone as gold prices edged higher.
Specialty biopharmaceutical company Shire was on the front foot after it filed its first submission to the US Food and Drug Administration a new plasma manufacturing facility in Covington, Georgia, which is expected to add around 30% capacity to the company’s internal network once fully operational.
The first submission is for the transfer of Gammagard Liquid 10% solution, a replacement therapy for primary humoral immunodeficiency (PI). Shire expects to make a second submission to the FDA in next year for its albumin therapy, which is primarily used as plasma-volume replacement therapy in immune disorders, trauma and other critical conditions.
Risers
Fresnillo (FRES) 1,383.00p 2.44%
Old Mutual (OML) 227.40p 2.29%
Glencore (GLEN) 384.00p 2.29%
Rio Tinto (RIO) 3,817.50p 1.90%
Anglo American (AAL) 1,528.00p 1.80%
Mediclinic International (MDC) 633.50p 1.77%
Antofagasta (ANTO) 981.00p 1.76%
BHP Billiton (BLT) 1,487.50p 1.64%
NMC Health (NMC) 2,861.00p 1.60%
Shire Plc (SHP) 3,933.50p 1.37%
Fallers
Rolls-Royce Holdings (RR.) 842.75p -1.95%
TUI AG Reg Shs (DI) (TUI) 1,509.00p -1.50%
Ferguson (FERG) 5,350.00p -1.38%
Sky (SKY) 1,002.00p -1.28%
Micro Focus International (MCRO) 2,474.00p -1.00%
Carnival (CCL) 4,859.00p -0.90%
SSE (SSE) 1,293.00p -0.84%
Imperial Brands (IMB) 3,104.00p -0.80%
Centrica (CNA) 137.70p -0.79%
Vodafone Group (VOD) 234.10p -0.76%