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FTSE 100 movers: Miners rally but Kingfisher slumps on results

By Michele Maatouk

Date: Wednesday 19 Sep 2018

FTSE 100 movers: Miners rally but Kingfisher slumps on results

(Sharecast News) - London's FTSE 100 was up 0.4% to 7,331.62 in afternoon trade on Wednesday as investors digested a surprise jump in UK inflation.
Miners were the standout gainers are copper prices rallied, with Antofagasta, Anglo, Glencore and Rio Tinto all higher.

On the downside, B&Q and Castorama owner Kingfisher was under the cosh after it said profit fell 30% in the first half as problems in France overshadowed a solid performance in the UK.

Statutory profit before tax of £281m from the six months to 31 July was down 30% on the same period last year, or down 18% to £323m if exceptional items are excluded, which was lower than City analysts were expecting.

Morrisons was in the red as Sainsbury's fell on news that its merger with Asda has been referred to an in-depth competition investigation with a deadline of March next year and as Tesco launched its new discount chain Jack's.

The Competition and Markets Authority confirmed that the deal raises sufficient concerns to be referred for a more in-depth review, including on issues relating to fuel, general merchandise and increased 'buyer power' over suppliers.

FTSE 100 - Risers

Antofagasta (ANTO) 817.40p 3.39%
Anglo American (AAL) 1,628.40p 3.32%
Evraz (EVR) 524.00p 2.91%
Glencore (GLEN) 316.70p 2.59%
Berkeley Group Holdings (The) (BKG) 3,706.00p 2.57%
Prudential (PRU) 1,703.50p 2.37%
Royal Bank of Scotland Group (RBS) 255.80p 2.08%
Rio Tinto (RIO) 3,686.00p 1.95%
Taylor Wimpey (TW.) 172.90p 1.80%
Micro Focus International (MCRO) 1,328.00p 1.76%

FTSE 100 - Fallers

Kingfisher (KGF) 256.10p -2.85%
NMC Health (NMC) 3,362.00p -2.15%
Unilever (ULVR) 4,157.00p -1.90%
Relx plc (REL) 1,509.50p -1.88%
BT Group (BT.A) 226.75p -1.80%
National Grid (NG.) 781.06p -1.79%
Intertek Group (ITRK) 4,753.00p -1.74%
SEGRO (SGRO) 636.00p -1.64%
British American Tobacco (BATS) 3,541.00p -1.64%
Morrison (Wm) Supermarkets (MRW) 253.40p -1.57%

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