FTSE 100 movers: Randgold boosted by higher metal prices

11th Nov 2009 16:45

A continued rise in the gold price and strong economic news from China sparked a recovery in mining companies. The biggest riser is Randgold Resources. This rebound follows disappointing third quarter figures, which were released yesterday. Profits were lower as gold sales were flat and production costs are increasing at its main mine as higher grade ore runs out. Higher gold prices will offset those increased costs and help to boost profits. Reed Elsevier shares headed lower following the resignation of Ian Smith as chief executive of the publisher. He had been in the job for eight months. The Anglo-Dutch group has appointed Erik Engstrom as chief executive. He is an internal candidate and will start immediately. Reed is suffering in a difficult publishing market. Advertising and promotion revenues have been particularly hard hit but even the subscription-based professional information operations are finding it tough. FTSE 100 - RisersRandgold Resources (RRS) 4,841.00p +5.77%Fresnillo (FRES) 888.50p +5.46%Legal & General Group (LGEN) 85.55p +5.16%Liberty International (LII) 481.50p +4.92%SEGRO (SGRO) 361.30p +4.85%Lloyds Banking Group (LLOY) 89.02p +4.47%Man Group (EMG) 360.30p +4.13%Schroders (SDR) 1,210.00p +3.42%Hammerson (HMSO) 437.40p +3.36%Sainsbury (J) (SBRY) 338.30p +3.27%FTSE 100 - FallersReed Elsevier (REL) 465.50p -3.92%Cobham (COB) 226.70p -1.95%Tullow Oil (TLW) 1,246.00p -1.81%Vodafone Group (VOD) 133.50p -1.80%BP (BP.) 582.90p -1.77%Royal Bank of Scotland Group (RBS) 38.41p -1.58%British Sky Broadcasting Group (BSY) 539.50p -1.46%Home Retail Group (HOME) 305.20p -1.39%Marks & Spencer Group (MKS) 366.50p -1.11%Next (NXT) 1,963.00p -1.11%