FTSE 100 movers: Footsie rises on the back of strong miners

21st Jul 2010 15:54

Mining stocks lead the surge in the Footsie as copper inventories continue to decline. Antofagasta has closed its deal to acquire 40% of Duluth Metals' Nokomis copper-nickel-platinum group metal deposit in north eastern Minnesota, US. Antofagasta has to fund $130m of spending over three years. Kazakhmys and Xstrata are also strong risers. Vedanta Resources will publish first quarter production results on 30 July. Medical devices firm Smith & Nephew has been knocked by results from US sector peer Stryker and there are also rumours that Citigroup is trying to place 8m shares at 559p each. Shares in Cable & Wireless Worldwide continue to fall after yesterday's warning that UK public sector spending will hit the business. Outsourcer Capita continues to fall in sympathy. FTSE 100 - RisersKazakhmys (KAZ) 1,102.00p +6.58%Antofagasta (ANTO) 987.00p +5.45%British Airways (BAY) 208.90p +4.76%Xstrata (XTA) 996.30p +4.66%Invensys (ISYS) 282.00p +4.44%Investec (INVP) 486.30p +4.42%TUI Travel (TT.) 231.70p +4.37%Man Group (EMG) 217.00p +3.93%Vedanta Resources (VED) 2,402.00p +3.71%Legal & General Group (LGEN) 87.75p +3.60%FTSE 100 - FallersSmith & Nephew (SN.) 558.00p -4.94%Cable & Wireless Worldwide (CW.) 66.85p -3.12%Imperial Tobacco Group (IMT) 1,916.00p -1.44%Capita Group (CPI) 713.50p -0.63%ICAP (IAP) 390.40p -0.56%G4S (GFS) 258.70p -0.50%AstraZeneca (AZN) 3,187.50p -0.45%National Grid (NG.) 489.00p -0.22%Lonmin (LMI) 1,444.00p -0.21%Scottish & Southern Energy (SSE) 1,163.00p -0.17%