FTSE 100 Movers: Miners drag index lower

17th Nov 2011 14:34

The second half has been a mixed bag for top riser Rexam, with out-performance by its Beverage Cans business more or less cancelled out by continued weakness on the Plastic Packaging business.As a result, the performance of the packaging firm overall has been in line with the board's expectations. National Grid was hot on Rexam's heels after the power grid operator said it is well placed to deliver another good year after posting a small improvement in underlying profit at the half-year stage.Underlying profit before tax for the six months ended 30 September rose 2% to £953m from £938m; that was below the £985m the market had been expecting, but that did not stop the share price rising on the figures. Meanwhile, the heavyweight mining sector was leading the market lower. With the euro dropping to a five-week low against the dollar - on the back of the ongoing crises in the Eurozone - three-month copper on the London Metal Exchange fell to $7,615 a tonne in morning trade, down from $7,730 at yesterday's close. Gold and silver prices were also down. Xstrata, ENRC, Fresnillo, Antofagasta, Vedandta and Kazakhmys were all registering steep losses. FTSE 100 - RisersRexam (REX) 334.70p +2.95%Admiral Group (ADM) 819.00p +2.31%Glencore International (GLEN) 411.20p +1.51%National Grid (NG.) 632.00p +0.88%Diageo (DGE) 1,329.00p +0.53%InterContinental Hotels Group (IHG) 1,080.00p +0.37%Severn Trent (SVT) 1,594.00p +0.31%British Sky Broadcasting Group (BSY) 717.50p +0.21%Compass Group (CPG) 566.50p +0.18%FTSE 100 - FallersG4S (GFS) 233.00p -4.66%Lloyds Banking Group (LLOY) 25.70p -4.60%Fresnillo (FRES) 1,784.00p -4.55%Antofagasta (ANTO) 1,123.00p -4.34%Vedanta Resources (VED) 1,044.00p -4.13%Inmarsat (ISAT) 439.80p -4.06%Essar Energy (ESSR) 248.90p -3.86%Eurasian Natural Resources Corp. (ENRC) 661.50p -3.57%Investec (INVP) 355.10p -3.45%Xstrata (XTA) 963.80p -3.38%NR