FTSE 100 movers: Miners in decline

12th Oct 2010 15:51

Falling metals prices have knocked the mining companies. Xstrata, Lonmin, and Kazakhmys are the worst hit of the miners, although the whole sector is lower. Xstrata is restarting ferronickel operations at Falcondo in the Dominican Republic next March. It will be running at 50% of installed capacity. Cairn Energy is lower due to the falling oil price. Autonomy remains unloved following last week's shock profit warning. Yesterday, Deutsche Bank cut its recommendation for the software company from buy to hold. Equitable Nominees has cut its stake in Autonomy to below 4%. Bid rumours are driving up the price of Standard Chartered with JPMorgan Chase said to be pondering pouncing for the emerging markets focused bank. Standard Chartered is also one of six banks advising an offshoot of the Abu Dhabi government on its dollar bond issue. The issue is likely to be worth at least $500m. Diageo and Standard Chartered are two companies where there are large open interests in strikes close to their current stock prices and the expiry of these options on Friday could lead to an increase in volumes. FTSE 100 - RisersEssar Energy (ESSR) 495.90p +2.59%Standard Chartered (STAN) 1,912.00p +2.25%Compass Group (CPG) 524.00p +1.16%Sage Group (SGE) 272.60p +1.08%British American Tobacco (BATS) 2,414.00p +1.07%Rexam (REX) 320.10p +0.91%Diageo (DGE) 1,123.00p +0.90%SABMiller (SAB) 2,038.50p +0.89%Severn Trent (SVT) 1,343.00p +0.83%G4S (GFS) 255.90p +0.79%FTSE 100 - FallersXstrata (XTA) 1,242.00p -2.85%BT Group (BT.A) 142.90p -2.72%Lonmin (LMI) 1,765.00p -2.38%Cairn Energy (CNE) 430.80p -2.36%Kazakhmys (KAZ) 1,373.00p -2.35%Autonomy Corporation (AU.) 1,452.00p -2.22%Lloyds Banking Group (LLOY) 72.30p -2.03%Antofagasta (ANTO) 1,245.00p -1.81%Morrison (Wm) Supermarkets (MRW) 295.70p -1.79%Petrofac Ltd. (PFC) 1,403.00p -1.75%