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FTSE 100 movers: Shell gushes higher on results, Randgold loses its shine

By Michele Maatouk

Date: Thursday 02 Nov 2017

FTSE 100 movers: Shell gushes higher on results, Randgold loses its shine

(ShareCast News) - The FTSE 100 was up 0.7% to 7,536.82 in afternoon trade on Thursday as the pound tumbled after what was considered a dovish rate hike by the Bank of England.
Heavily-weighted miners were among the top gainers, with Antofagasta, BHP Billiton and Anglo American all higher.

Oil giant Shell gushed higher as its third-quarter profit beat forecasts, rising by almost half to $4.1bn (£3.1bn), benefitting from rising oil prices. Net income for the three months to the end of September, based on current cost of supplies, rose 47% to $4.1bn, outstripping the $3.6bn average analyst forecast.

Standard Chartered was in the black after Deutsche Bank upgraded the stock to 'hold' from 'sell', saying the downside is now more limited.

"However, we were already US$200-400m below consensus revenues forecasts for 2019/20 going into 3Q17 results, and consequently our downgrades are more limited," said DB after the company's results on Wednesday.

Going the other way, Randgold Resources was on the back foot as it posted a drop in profit and production for the third quarter, but said it was on track to meet its 2017 guidance. Profit fell 41% compared to the second quarter to $602m, with production down 9% to 310,618 ounces, as total cash cost per ounce rose 17% to $667. In the nine months to 30 September, however, profit was up 22% on the corresponding period a year ago, while production was 11% higher.

BT Group was under the cosh as the fact it maintained its interim dividend failed to impress, after it reported a drop in first-half sales and profits.

FTSE 100 - Risers

Mediclinic International (MDC) 600.00p 3.99%
Antofagasta (ANTO) 993.00p 2.37%
BHP Billiton (BLT) 1,434.50p 1.95%
Royal Dutch Shell 'A' (RDSA) 2,405.50p 1.95%
Anglo American (AAL) 1,494.50p 1.77%
Rio Tinto (RIO) 3,716.00p 1.74%
Hammerson (HMSO) 530.00p 1.73%
Smurfit Kappa Group (SKG) 2,347.00p 1.69%
Old Mutual (OML) 194.60p 1.57%
Standard Chartered (STAN) 715.40p 1.48%

FTSE 100 - Fallers

Randgold Resources Ltd. (RRS) 7,010.00p -6.16%
BT Group (BT.A) 250.40p -3.88%
Royal Bank of Scotland Group (RBS) 278.00p -2.28%
Lloyds Banking Group (LLOY) 67.07p -2.27%
Rentokil Initial (RTO) 327.50p -2.09%
Persimmon (PSN) 2,805.00p -1.85%
easyJet (EZJ) 1,326.00p -1.70%
Convatec Group (CTEC) 188.70p -1.62%
ITV (ITV) 159.50p -1.54%
Kingfisher (KGF) 304.70p -1.49%

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