FTSE 100 movers: Energy stocks slump, miners gain

30th Sep 2026 14:22

(Sharecast News) - London's FTSE 100 was down 0.1% at 10,621.60 in afternoon trade on Wednesday.

Energy companies BP, Shell and Ithaca were all in the red, while LSEG fell even as JPMorgan reinitiated coverage with an 'overweight' stance.

Utilities gained, with SSE, National Grid, Severn Trent and United Utilities all up, having lost ground a day earlier after Prime Minister Andy Burnham' unveiled GB Grid - a state-backed initiative to invest in the electricity network.

Heavily-weighted miners Antofagasta and Anglo American were among the top performers as copper prices rose. They were also boosted by price target upgrades at Berenberg.

The bank upped its price target on 'buy' rated Antofagasta to 4,600p from 4,400p, saying it remains its top large-cap pick in copper. The PT for 'hold' rated Anglo American was upped to 4,300p from 4,200p.

In a broader note on the mining sector, Berenberg said it remains constructive on the long-term outlook despite challenging markets, and would advocate a "buy-the-dip" strategy when markets are volatile.

B&Q owner Kingfisher was in the black as Barclays lifted its price target on the shares to 320p from 300p and maintained an 'equalweight' rating.

FTSE 100 - Risers

Antofagasta (ANTO) 3,812.00p 4.57%

Reckitt Benckiser Group (RKT) 5,078.00p 3.84%

Spirax Group (SPX) 7,375.00p 2.72%

SSE (SSE) 2,489.00p 2.46%

Weir (WEIR) 2,754.00p 2.37%

National Grid (NG.) 1,147.50p 2.32%

Severn Trent (SVT) 3,124.00p 2.29%

Kingfisher (KGF) 335.50p 2.13%

Anglo American (AAL) 4,069.00p 2.08%

United Utilities Group (UU.) 1,435.00p 2.06%

FTSE 100 - Fallers

Airtel Africa (AAF) 297.60p -2.12%

The Sage Group (SGE) 955.80p -1.67%

BT Group (BT.A) 192.25p -1.58%

London Stock Exchange Group (LSEG) 8,064.00p -1.54%

BP (BP.) 542.90p -1.34%

Shell (SHEL) 3,549.50p -1.15%

Relx plc (REL) 2,474.00p -1.08%

GSK (GSK) 1,839.00p -1.02%

Aviva (AV.) 687.60p -1.01%

Ithaca Energy (ITH) 272.20p -0.98%