FTSE 100 movers: Financials lead risers as blue chips end losing streak

25th Aug 2015 15:18

(ShareCast News) - The FTSE 100 bounced back on Tuesday, recouping some of Monday's China-triggered losses, for what looked like being the first positive session in 11 trading days.An hour before the close London's blue chips were up 136.80 points, or 2.32%, to 6,035.67, led by companies lifted purely on the wave of the market's bounceback.Chilean copper miner Antofagasta was top riser in the FTSE 100, despite posting a 64% drop in first-half pre-tax profit as revenue fell on the back of declining prices of its metal and by-products, worsened by shipment delays. Even though the results were below consensus expectations, the bounceback after Monday's losses carried the shares to where they ended last week. Copper was said to back above an apparent psychological price level.A dynamic phalanx of diversified financials companies were next on the leader board, with London Stock Exchange,St James's Place, Schroders, Old Mutual and Aviva all boats carried on the rising tide and further boosted by expected fund flows back into emerging markets.News that RSA Insurance had received a revised takeover proposal from Zurich Insurance, with the Swiss giant's possible all-cash offer for the company hiked to 550p per share, also helped the sector, Old Mutual in particular.Also Aviva was perhaps aided by a its heavy EU exposure as markets bounced back, as well as a positive Barrons article on Monday that suggested 20% upside in long term.ARM Holdings also benefited from the rebounding sentiment but was further lifted on news about its largest client, Apple. There were several reports that Apple chief executive Tim Cook to a US television host singlehandedly helped the stock claw back losses from the early China bloodletting. The email, which was confirmed by Apple, contained bullish information about China and stated that growth remained "strong" in one of Apple's most important markets.Among the worst price performers was gold miner Randgold Resources as gold prices slipped back from their recent gains, with the glint also take off fellow precious metals miner Fresnillo too. FTSE 100 - RisersAntofagasta (ANTO) 569.00p +6.75%London Stock Exchange Group (LSE) 2,529.00p +6.66%St James's Place (STJ) 911.50p +6.11%Schroders (SDR) 2,764.00p +5.34%Barratt Developments (BDEV) 621.00p +5.25%ARM Holdings (ARM) 892.50p +5.19%Old Mutual (OML) 193.70p +5.16%Aviva (AV.) 481.40p +4.81%RSA Insurance Group (RSA) 518.00p +4.65%Travis Perkins (TPK) 2,014.00p +4.51%FTSE 100 - FallersRandgold Resources Ltd. (RRS) 4,009.00p -3.35%Fresnillo (FRES) 636.50p -1.16%Royal Mail (RMG) 460.40p -0.02%