FTSE 100 movers: Polymetal leads the risers

7th Nov 2012 15:24

Polymetal topped the risers list today as gold prices neared a two-week high on the back of the Obama re-election. The precious metal was up at $1,729 per ounce this morning, its highest level since October 23rd. Fellow miner Fresnillo was on the rise, tracking commodities prices higher as the dollar declined after Obama's re-election. International services giant Serco was up, shrugging off a downgrade by Invesec to 'sell', after buying out its 15-year joint venture partner in Australian defence and marine services business DMS Maritime Pty for £68m. International services giant Serco has bought out its 15-year joint venture partner in Australian defence and marine services business DMS Maritime Pty. Randgold Resources took a hit after a disappointing third-quarter result. The gold miner reported the production fell back from the preceding quarter's record levels as the company suffered grid power supply problems at its Tongon mine and processed lower grades at Gounkoto. Like a number of resource companies, BG Group was reacting to the news that the European Commission has cut its forecasts for gross domestic product growth in the Eurozone this year to 0.1%, from 1% before. Even in the case of Germany Brussels´s crystal ball now shows economic expansion coming in at a rate of 0.8% instead of the 1.7% rate hereto foreseen.Construction and materials stocks were the worst performing stocks on Wednesday with blue-chip constituent CRH among the heaviest fallers. After a strong performance in morning trade, UK stock markets swung into the red after the European Commission at noon cut its forecasts for gross domestic product growth in the Eurozone this year to 0.1%, from 1% before. Luxury brand Burberry fell despite the fact that it reported a higher-than-expected profit in the first half and said it is looking optimistic about its new fragrance and beauty division which is to start operating next year. FTSE 100 - RisersPolymetal International (POLY) 1,132.00p +1.89%Associated British Foods (ABF) 1,381.00p +1.17%Fresnillo (FRES) 1,939.00p +0.68%RSA Insurance Group (RSA) 113.40p +0.62%SABMiller (SAB) 2,689.50p +0.54%Hargreaves Lansdown (HL.) 770.50p +0.52%British Sky Broadcasting Group (BSY) 753.00p +0.40%InterContinental Hotels Group (IHG) 1,551.00p +0.39%British American Tobacco (BATS) 3,163.00p +0.38%Serco Group (SRP) 576.50p +0.35%FTSE 100 - FallersRandgold Resources Ltd. (RRS) 6,995.00p -5.79%Eurasian Natural Resources Corp. (ENRC) 305.80p -3.50%CRH (CRH) 1,164.00p -3.32%BG Group (BG.) 1,065.00p -2.92%Pennon Group (PNN) 693.50p -2.80%Marks & Spencer Group (MKS) 387.70p -2.76%Aviva (AV.) 331.00p -2.53%International Consolidated Airlines Group SA (CDI) (IAG) 170.60p -2.51%Burberry Group (BRBY) 1,223.00p -2.32%Barclays (BARC) 237.05p -2.27%NR