FTSE 100 movers: Glencore falls lower on debut

25th May 2011 15:26

The new kid on the block is new-floated commodity trading house Glencore, which has fallen lower on its debut on the FTSE 100. The Telegraph today labelled the group with its 'avoid' rating "as there are likely to be better opportunities elsewhere that carry less risk."Oil groups Essar Energy and Cairn Energy are among the risers, on the back of the rising crude price. However, sector peer Tullow Oil is under the weather following yesterday's acquisition of Nuon Exploration and Production for €300m cash from the Vattenfall Group. Metals prices are also firmer, helping Antofagasta and Kazakhmys.Vodafone is falling lower after Nomura downgraded the telecoms giant from 'buy' to 'neutral', saying that "customer lifetime value [is] heading in the wrong direction."Fashion retailer Next and B&Q owner Kingfisher are among the worst performers.---BCFTSE 100 - RisersITV (ITV) 69.60p +2.20%Essar Energy (ESSR) 425.60p +1.94%Antofagasta (ANTO) 1,219.00p +1.92%Cairn Energy (CNE) 443.90p +1.86%Aggreko (AGK) 1,800.00p +1.75%G4S (GFS) 280.20p +1.56%Standard Chartered (STAN) 1,588.50p +1.40%Barclays (BARC) 269.30p +1.39%3i Group (III) 287.60p +1.30%Kazakhmys (KAZ) 1,251.00p +1.30%FTSE 100 - FallersNext (NXT) 2,183.00p -2.89%Burberry Group (BRBY) 1,311.00p -2.31%Amec (AMEC) 1,140.00p -1.89%SABMiller (SAB) 2,170.00p -1.83%International Power (IPR) 314.50p -1.78%Resolution Ltd. (RSL) 304.20p -1.68%Tullow Oil (TLW) 1,286.00p -1.46%Glencore International (GLEN) 517.50p -1.43%British American Tobacco (BATS) 2,682.50p -1.32%Autonomy Corporation (AU.) 1,771.00p -1.23%