Sector movers: Miners boosted as metals firm, electricity remains off
London's equity benchmarks were little moved on Thursday afternoon, with mining and industrial gains cancelled out
Miners led the upside on Thursday as metals prices rose, with Glencore, Rio Tinto, Antofagasta and Anglo American all higher.
Metals benefitted from reports that the United States has proposed fresh trade talks with China.
Lukman Otunuga, research analyst at FXTM, said: "While this is not the first time there has been optimism around negotiations between Washington and Beijing, which have later escalated to further trade tensions, investors will want to remain optimistic that an agreement over this long-standing issue will eventually be made. The talks are overall a positive step that both sides are willing to diffuse tensions between the two largest economies in the world."
After SSE's profits warning a day earlier, the electricity sector was again leading the downside, with SSE still in the red, joined by Drax and National Grid, but with Centrica making a small recovery.
"SSE's profit warning should have a limited read across to other utilities in the sector," said analysts at Citi, with the weakened shares on the back of the announcement "we believe is unjustified".
Citi said SSE's perception as a safe, defensive and largely regulated network and renewable utility has taken a "dent", along with its premium rating, as the company took a directional bet on commodity prices "and was caught on the wrong side".
Top performing sectors so far today
Mining 16,173.98 +1.75%
Leisure Goods 9,128.68 +1.67%
Industrial Metals & Mining 4,289.71 +1.32%
Forestry & Paper 23,606.97 +1.30%
Mobile Telecommunications 3,770.85 +1.26%
Bottom performing sectors so far today
Electricity 6,853.34 -2.24%
Tobacco 41,302.54 -1.67%
Media 8,008.46 -1.17%
Technology Hardware & Equipment 976.44 -0.96%
Health Care Equipment & Services 7,760.55 -0.95%
Market Movers
FTSE 100 (UKX) 7,315.69 0.03%
FTSE 250 (MCX) 20,355.42 -0.12%
techMARK (TASX) 3,463.85 0.01%
FTSE 100 - Risers
Anglo American (AAL) 1,522.60p 2.46%
Royal Bank of Scotland Group (RBS) 250.40p 2.29%
Antofagasta (ANTO) 775.80p 2.24%
Glencore (GLEN) 301.25p 2.08%
Rio Tinto (RIO) 3,592.01p 1.63%
Vodafone Group (VOD) 169.10p 1.51%
Evraz (EVR) 481.80p 1.37%
Mondi (MNDI) 2,098.00p 1.35%
Micro Focus International (MCRO) 1,320.00p 1.34%
Coca-Cola HBC AG (CDI) (CCH) 2,596.00p 1.17%
FTSE 100 - Fallers
NMC Health (NMC) 3,610.72p -2.52%
Pearson (PSON) 842.00p -2.27%
SSE (SSE) 1,121.00p -2.27%
WPP (WPP) 1,126.50p -2.17%
Marks & Spencer Group (MKS) 287.70p -1.91%
Imperial Brands (IMB) 2,643.00p -1.80%
British American Tobacco (BATS) 3,706.00p -1.51%
ITV (ITV) 159.55p -1.51%
Rightmove (RMV) 478.90p -1.32%
Relx plc (REL) 1,612.50p -1.26%
FTSE 250 - Risers
Centamin (DI) (CEY) 94.38p 4.38%
Greencore Group (GNC) 198.40p 3.44%
Grainger (GRI) 308.00p 3.08%
Coats Group (COA) 84.70p 2.67%
Lancashire Holdings Limited (LRE) 591.00p 2.52%
Kaz Minerals (KAZ) 476.00p 2.45%
Weir Group (WEIR) 1,621.00p 2.27%
Tullow Oil (TLW) 237.50p 2.06%
G4S (GFS) 236.00p 1.99%
Wizz Air Holdings (WIZZ) 3,176.00p 1.83%
FTSE 250 - Fallers
Tate & Lyle (TATE) 639.60p -4.17%
Energean Oil & Gas (ENOG) 562.00p -3.93%
JD Sports Fashion (JD.) 504.20p -3.30%
Clarkson (CKN) 2,715.00p -3.21%
Rathbone Brothers (RAT) 2,452.00p -3.16%
BCA Marketplace (BCA) 212.50p -2.97%
Mediclinic International (MDC) 463.90p -2.75%
Domino's Pizza Group (DOM) 280.60p -2.70%
Safestore Holdings (SAFE) 535.00p -2.64%
Inmarsat (ISAT) 492.10p -2.48%