FTSE 100 movers: Miners lead on the upside as travel stocks continue lower

13th Oct 2014 15:53

Mining stocks gained strongly thanks to broker upgrades and positive economic data out from China which showed that both exports and imports jumped in September, by 15.3% and 7% year-on-year respectively. Over the last few months the sector has registered sharp declines due to mounting concerns about slowing global growth.Credit Suisse gave an extra boost to Anglo American after raising its rating on the stock to 'outperform' from 'neutral', while Canaccord Genuity opened its coverage on Glencore Xstrata (and Anglo American) with a 'buy' rating and a target price of 400p.Melrose was on the rise after the manufacturing conglomerate said it would sell its industrial rope and cable division Bridon for £365m - a price above some analysts' expectations.Shares in Arm Holdings were hit by a downgrade from JPMorgan & Co. to 'neutral', while Tesco declined after the Financial Times reported that two more directors at the supermarket are set to depart. Company secretary Jonathan Lloyd is expected to exit in March after serving out his notice period, while non-executive director Ken Hanna will bid farewell before the year's end, according to the paper.Medical technology business Smith & Nephew fell after reporting negative results for the phase-three study on its living cell spray-on therapy, which failed to meet its primary goal. The treatment is designed to work with the body's own cells to stimulate healing of leg ulcers, but failed to result in a statistically significant improvement in healing over a placebo.Travel stocks continued to decline on fears about the Ebola virus, with TUI, Carnival, Easyjet and IAG all sliding lower.Weir Group was crushed under the weight of falling Brent futures after Iraq moved to lower its prices on cargoes lifting anchor to Asian shores in November.FTSE 100 - RisersAnglo American (AAL) 1,393.00p +5.09%Rio Tinto (RIO) 3,093.50p +4.33%Randgold Resources Ltd. (RRS) 4,377.00p +4.29%Fresnillo (FRES) 774.50p +3.40%Glencore (GLEN) 321.95p +3.11%BHP Billiton (BLT) 1,662.00p +3.01%Antofagasta (ANTO) 679.50p +2.72%HSBC Holdings (HSBA) 633.20p +2.08%Old Mutual (OML) 174.20p +1.99%United Utilities Group (UU.) 807.00p +1.96%FTSE 100 - FallersARM Holdings (ARM) 817.00p -3.03%Tesco (TSCO) 180.65p -2.48%TUI Travel (TT.) 337.40p -1.86%Bunzl (BNZL) 1,540.00p -1.72%Carnival (CCL) 2,172.00p -1.59%Smith & Nephew (SN.) 975.50p -1.56%Dixons Carphone (DC.) 357.60p -1.32%Weir Group (WEIR) 2,177.00p -1.31%Royal Mail (RMG) 393.30p -1.30%SABMiller (SAB) 3,248.00p -1.28%