FTSE 100 movers: Miners sink while oil companies recover slightly

Anglo-Australian miner BHP Billiton dipped following a downgrade at RBC Capital Markets to ‘underperform’ from ‘sector-perform’. Other mining companies, including Fresnillo, Randgold Resources and Glencore, were also hit by a forecast of an extended period of low iron ore prices, due to over-supply and falling industry costs from analysts at Credit Suisse.

Sky Plc fell substantially after Liberum Capital highlighted risks should the broadcaster fail to win most rights to show Premier League matches.

Meanwhile UK telecoms group BT was boosted after a report on Monday announced the group could take a step forward in its bid to buy a mobile phone operator. BT may announce exclusive talks with either EE or Telefonica's O2, news agency Bloomberg cited unidentified sources as saying.

Chemical firm Johnson Matthey also gained after agreeing to sell its gold and silver refining business to Asahi Holdings for £118m in cash. The group said the transaction is expected to be completed by the end of March 2015. "The divestment of the Gold and Silver Refining business is in line with our long term strategy,” said group chief executive Robert MacLeod.

Tullow Oil was among the risers, after an early bounce in oil prices following armed clashes in Libya over the weekend which disrupted roughly half of the country’s export capacity. By late afternoon however said bounce had evaporated.

Risers

Kingfisher (KGF) 323.90p +2.86%
Weir Group (WEIR) 1,742.00p +2.53%
Dixons Carphone (DC.) 431.20p +2.28%
International Consolidated Airlines Group SA (CDI) (IAG) 467.00p +2.23%
Burberry Group (BRBY) 1,617.00p +2.15%
GKN (GKN) 331.30p +2.03%
Sainsbury (J) (SBRY) 232.10p +2.02%
BT Group (BT.A) 404.50p +1.79%
Tullow Oil (TLW) 373.70p +1.74%
Johnson Matthey (JMAT) 3,250.00p +1.53%

Fallers

Sky (SKY) 882.50p -2.22%

Ashtead Group (AHT) 1,130.00p -1.74%
BHP Billiton (BLT) 1,306.50p -1.40%
AstraZeneca (AZN) 4,509.00p -1.40%
Fresnillo (FRES) 723.50p -1.23%
Randgold Resources Ltd. (RRS) 4,101.00p -1.18%
Glencore (GLEN) 284.85p -1.09%
Royal Bank of Scotland Group (RBS) 371.60p -1.06%
Severn Trent (SVT) 1,918.00p -0.98%
Legal & General Group (LGEN) 237.30p -0.96%