FTSE 100 movers: Miners recover to lift the Footsie higher

17th Jun 2011 13:30

The miners are leading the comeback as metals prices recover slightly.Lonmin, Anglo American, Xstrata and Kazakhmys are among the best performers on the blue chip index, despite falling early on.Following the acquisition of an additional stake in Africa-focused coal miner Riversdale Mining, Rio Tinto announced on Friday that it has now taken full control of the target, after months of deliberation and deadline extensions. After edging lower early on, the mining giant has joined its sector peers on the rise.BAE Systems, the defence firm, is heading lower after revealing that it will incur significantly higher-than-planned costs to complete the Omani Offshore Patrol Vessel programme. A charge of £160m (pre-tax) will be announced in its first half results.Commodities trading house Glencore is higher, helped by Charles Stanley which said that it sees this week's share price decline (after the first quarter results) as an "over-negative interpretation of the CEO's outlook for metal prices."Temporary power provider Aggreko was also helped by broker commentary, after Goldman Sachs has raised its target price on the firm ahead of a trading update on Monday. ---BCFTSE 100 - RisersLonmin (LMI) 1,410.00p +2.03%3i Group (III) 269.10p +1.93%Anglo American (AAL) 2,864.00p +1.89%Xstrata (XTA) 1,271.50p +1.88%Kazakhmys (KAZ) 1,263.00p +1.85%GKN (GKN) 205.80p +1.83%Aggreko (AGK) 1,898.00p +1.71%Petrofac Ltd. (PFC) 1,505.00p +1.62%Standard Life (SL.) 205.00p +1.54%Unilever (ULVR) 1,963.00p +1.50%FTSE 100 - FallersKingfisher (KGF) 264.10p -1.46%Inmarsat (ISAT) 567.00p -0.79%Schroders (Non-Voting) (SDRC) 1,269.00p -0.63%Capital Shopping Centres Group (CSCG) 384.50p -0.49%HSBC Holdings (HSBA) 605.60p -0.43%Smith & Nephew (SN.) 651.50p -0.31%ICAP (IAP) 454.50p -0.26%Schroders (SDR) 1,526.00p -0.20%National Grid (NG.) 588.00p -0.17%Legal & General Group (LGEN) 113.70p -0.09%