FTSE 100 movers: Glenore dismisses rumours, shares drop

15th Jun 2011 14:08

Glencore is the worst performing stock on the blue chip index as of Wednesday afternoon. In a brief statement in response to press speculation, the commodities trader stated that it is not actively considering an offer for Kazakh mining company Eurasian Natural Resources Corporation (ENRC). The official statement backs up quotes in the UK press by Glencore's chief executive yesterday, Ivan Glasenberg. ENRC is also heading lower. Miner Xstrata is also under the weather, tracking metals prices downwards.The banking sector is unwanted on reports the British banks could be forced to ring-fence their retail and investment operations. The idea is to protect high street bank customers losing their savings if investment bankers suffer heavy losses, as they did during the financial crisis of 2008. RBS, HSBC, Lloyds and Standard Chartered are all lower.British Land is heading higher after welcoming the government's decision not to list the Broadgate office development in the City of London. The company can now go ahead with its planned £850m redevelopment of the site on behalf of its tenant, the Swiss financial services group UBS. Credit checking firm Experian is off the mark on the back of reports that have suggested that US regulation could be extended to credit bureaus operating in the country.Sainsbury is heading lower despite like-for-like sales coming in line with expectations. "We've delivered a solid sales performance, in line with our expectations, in spite of the continued tough consumer environment," said chief executive, Justin King. Insurance colossus Aviva has confirmed RBS non-executive director John McFarlane will be its new chairman. Shares are lower.---BCFTSE 100 - RisersTUI Travel (TT.) 213.80p +1.18%British Land Co (BLND) 594.00p +0.85%Land Securities Group (LAND) 843.50p +0.72%Smith & Nephew (SN.) 660.00p +0.69%Whitbread (WTB) 1,536.00p +0.59%InterContinental Hotels Group (IHG) 1,197.00p +0.59%Capital Shopping Centres Group (CSCG) 387.60p +0.41%Morrison (Wm) Supermarkets (MRW) 296.30p +0.37%Burberry Group (BRBY) 1,324.00p +0.30%British Sky Broadcasting Group (BSY) 836.50p +0.18%FTSE 100 - FallersGlencore International (GLEN) 482.80p -3.44%Experian (EXPN) 782.00p -2.31%G4S (GFS) 277.20p -2.12%Xstrata (XTA) 1,266.50p -2.05%Autonomy Corporation (AU.) 1,749.00p -2.02%Man Group (EMG) 235.60p -1.92%Schroders (Non-Voting) (SDRC) 1,296.00p -1.89%Eurasian Natural Resources Corp. (ENRC) 747.50p -1.84%Tullow Oil (TLW) 1,277.00p -1.84%Rexam (REX) 379.40p -1.81%