FTSE 100 movers: Financials and miners head lower

9th Dec 2009 15:50

Financials and mining companies dominate the fallers in the FTSE 100. The index was in positive territory before the Pre-Budget Report but it fell back in the early afternoon. The financials heading downwards include Old Mutual, Man Group, Legal & General, Barclays and Resolution. Barclays will certainly be hit by the new bonus tax announced by the Chancellor today. Miners Fresnillo, Vedanta Resources and Kazakhmys are all lower. Standard Chartered is bucking the financials trend, probably because it says its Dubai exposure is not likely to be material. JP Morgan raised its recommendation for property investor Segro from underweight to neutral. FTSE 100 - RisersSEGRO (SGRO) 334.30p +3.98%Standard Chartered (STAN) 1,462.00p +1.74%Rio Tinto (RIO) 3,122.00p +1.13%InterContinental Hotels Group (IHG) 879.50p +1.03%Xstrata (XTA) 1,044.00p +0.97%Randgold Resources (RRS) 4,989.00p +0.83%British Land Co (BLND) 447.00p +0.81%National Grid (NG.) 642.50p +0.55%Compass Group (CPG) 447.20p +0.54%Schroders (SDR) 1,168.00p +0.52%FTSE 100 - FallersOld Mutual (OML) 104.30p -5.35%Fresnillo (FRES) 788.00p -3.90%Man Group (EMG) 305.60p -3.50%Legal & General Group (LGEN) 74.25p -3.32%Barclays (BARC) 278.10p -3.27%Resolution (RSL) 78.55p -2.84%Rexam (REX) 272.50p -2.82%Vedanta Resources (VED) 2,302.00p -2.70%Kazakhmys (KAZ) 1,217.00p -2.64%Standard Life (SL.) 198.60p -2.60%