FTSE 100 movers: Miners rally on China data; Provident Financial drops again

Thu 31 Aug 2017

LONDON (SHARECAST) - (ShareCast News) - London's FTSE 100 was up 0.8% to 7,421.07 in afternoon trade on Thursday, lifted by a strong performance in the heavily-weighted mining sector, and a weaker pound.
Mining stocks were the best performers, with Antofagasta, Anglo American, Rio Tinto and Glencore all in the black after China's official manufacturing purchasing managers' index for August printed at 51.7, up a touch from 51.4 in July and above expectations for a nudge down to 51.3. A reading above 50 indicates expansion.

On the downside, troubled subprime lender Provident Financial was hit by a downgrade from Jefferies and as it was ejected from the FTSE 100 in the latest quarterly reshuffle. Jefferies downgraded Provident to 'hold' from 'buy' and slashed the price target to 940p from 3,478p following the subprime lender's profit warning last week, which sent the shares tanking 66%.

G4S was hit by a downgrade by UBS to 'neutral' from 'buy'. The bank cuts its price target to 300p from 355p as it said there is a somewhat attractive risk/reward, but now it has returned to stability outperformance may be less notable.

G4S was also weaker as it went ex-dividend, along with Hammerson and St James's Place.


Antofagasta (ANTO) 1,052.00p 3.65%
Anglo American (AAL) 1,410.50p 3.41%
Mediclinic International (MDC) 760.50p 2.36%
Hargreaves Lansdown (HL.) 1,395.00p 2.35%
Rio Tinto (RIO) 3,762.50p 2.27%
Glencore (GLEN) 363.45p 1.89%
International Consolidated Airlines Group SA (CDI) (IAG) 612.00p 1.83%
Prudential (PRU) 1,819.00p 1.65%
Aviva (AV.) 525.50p 1.64%
AstraZeneca (AZN) 4,526.00p 1.64%


Provident Financial (PFG) 864.00p -3.14%
G4S (GFS) 284.00p -3.04%
Tesco (TSCO) 180.45p -1.07%
Hammerson (HMSO) 559.50p -0.97%
United Utilities Group (UU.) 906.50p -0.49%
Fresnillo (FRES) 1,612.00p -0.49%
St James's Place (STJ) 1,165.00p -0.43%
Sainsbury (J) (SBRY) 234.80p -0.42%
Royal Dutch Shell 'B' (RDSB) 2,151.50p -0.32%
Morrison (Wm) Supermarkets (MRW) 244.50p -0.29%
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