FTSE 100 movers: RBS up on job cuts, miners suffer

15th Mar 2016 14:23

(ShareCast News) - The FTSE 100 was in the red in afternoon trading on Tuesday, off the back of lower oil prices and predictions from OPEC that global demand for the cartel's crude would be less than previously expected in 2016.Leading the risers was Royal Bank of Scotland, which had revealed further job cuts as part of its radical restructuring. The state-supported bank said it would slash 448 investment banking jobs, and set up 300 similar roles in India, adding to its existing operation in the country. The move came just days after it announced it was cutting 550 adviser jobs and replacing them with an automated 'robo-advice' service.Home improvement retailer Kingfisher was also on the up, after Jefferies Group reiterated its 'buy' rating on the shares in a report released on Monday. Jefferies currently had a price target of 420p on the stock. Sanford C Bernstein joined in, reiterating its outperform rating on the stock, and also had a price target of 420p on it.The big miners were under the cosh, with Anglo American down after its chief executive Mark Cutifani shelled out for 40,000 shares at £5.51 each to underpin the struggling company. It came after Anglo American published its annual report on Monday, which showed the miner slumping to a record $5.5bn pre-tax loss for 2015, with Cutifani's pay package also sinking.Copper specialist Antofagasta was also slipping, after its board cancelled its final dividend. The company said the interim payment met its target of paying 35% of final earnings, after annual profits fell 82.9% to $259.4m. Antofagasta's board said it did not expect any sustained recovery in copper prices until late in 2017. FTSE 100 - RisersRoyal Bank of Scotland Group (RBS) 235.00p 1.64%Kingfisher (KGF) 355.70p 1.48%Coca-Cola HBC AG (CDI) (CCH) 1,428.00p 1.42%RSA Insurance Group (RSA) 456.90p 1.15%Mondi (MNDI) 1,360.00p 1.12%Dixons Carphone (DC.) 435.60p 1.07%Unilever (ULVR) 3,141.50p 1.00%Compass Group (CPG) 1,227.00p 0.99%Relx plc (REL) 1,267.00p 0.96%Ashtead Group (AHT) 822.50p 0.92%FTSE 100 - FallersAnglo American (AAL) 492.00p -9.97%Antofagasta (ANTO) 499.60p -7.05%BHP Billiton (BLT) 767.50p -5.97%Legal & General Group (LGEN) 229.40p -5.83%Glencore (GLEN) 140.40p -5.07%Standard Chartered (STAN) 465.05p -3.83%Rio Tinto (RIO) 1,925.00p -3.82%Burberry Group (BRBY) 1,355.00p -3.08%Aberdeen Asset Management (ADN) 282.90p -2.18%Prudential (PRU) 1,320.00p -1.93%