FTSE 100 movers: Banks, housebuilders rally; precious metals miners lose shine

London's FTSE 100 was up 3% to 6,202.79 in afternoon trading, buoyed by the latest EU referendum polls, which show a swing in favour of the Remain camp.

Hargreaves Lansdown was the biggest gainer after Barclays said UK asset managers were insulated from a Brexit scenario as it weighed up insurers versus asset managers.

"We believe that in a leave vote scenario the UK insurers carry significant balance sheet risk that the UK asset managers do not. We believe this similar selloff is overly harsh on asset managers such as Henderson, Hargreaves Lansdown and Schroders."

Banks and homebuilders racked up healthy gains, benefiting from the relief rally and a stronger pound as Brexit fears receded.

Taylor Wimpey, Barratt Developments, Berkeley Group, RBS, Barclays and Lloyds were all sharply higher.

Nevertheless, a trader argued that luxury homebuilders were still too highly valued. "If we remain, which the market thinks will happen today, then there will be the same argument that London housing has become way too valued and unaffordable," he said.

"I will be looking at re-entering short Berkeley Group for this very reason."

Risers

Hargreaves Lansdown (HL.) 1,321.00p 7.49%
Taylor Wimpey (TW.) 188.80p 7.27%
Royal Bank of Scotland Group (RBS) 238.00p 7.16%
Barratt Developments (BDEV) 568.00p 6.87%
Barclays (BARC) 176.80p 6.67%
Lloyds Banking Group (LLOY) 69.31p 6.55%
St James's Place (STJ) 876.00p 6.31%
Aviva (AV.) 432.10p 6.19%
Berkeley Group Holdings (The) (BKG) 3,242.00p 5.77%
International Consolidated Airlines Group SA (CDI) (IAG) 505.50p 5.69%

Fallers

Randgold Resources Ltd. (RRS) 6,410.00p -3.03%
Fresnillo (FRES) 1,214.00p -1.06%
Rexam (REX) 626.50p -0.48%
SABMiller (SAB) 4,285.50p 0.70%
Rio Tinto (RIO) 2,039.00p 1.67%
Unilever (ULVR) 3,127.50p 1.91%
National Grid (NG.) 977.50p 1.95%
Relx plc (REL) 1,230.00p 2.07%
Carnival (CCL) 3,474.00p 2.12%
TUI AG Reg Shs (DI) (TUI) 1,028.00p 2.19%