FTSE 100 movers: Burberry boosted by weak pound; miners drop

The FTSE 100 was up 0.2% to 7,542.19 in afternoon trade after hitting a fresh intraday record of 7,563, boosted by a weaker pound.

Weakness in the pound amid election jitters helped to underpin gains for luxury fashion house Burberry, which derives much of its income from foreign earnings.

On the downside, heavily-weighted miners retreated as iron prices slumped, with Anglo American, Rio Tinto, BHP Billiton, Antofagasta and Glencore all in the red.

Payments processor Worldpay was also weaker as Barclays cut its stance on the stock to ‘equalweight’ from ‘overweight’ as it raised some questions about the group's growth ambitions.

The bank, which left its price target unchanged at 315p, said "we cannot find enough upside to warrant a price target increase and we have some concern regarding the organic growth trend".

Risers

Burberry Group (BRBY) 1,830.00p 2.46%
GlaxoSmithKline (GSK) 1,702.50p 1.76%
Randgold Resources Ltd. (RRS) 7,285.00p 1.67%
Mediclinic International (MDC) 801.50p 1.52%
Merlin Entertainments (MERL) 527.00p 1.44%
Barratt Developments (BDEV) 609.50p 1.33%
Whitbread (WTB) 4,285.00p 1.32%
Standard Chartered (STAN) 735.80p 1.28%
Wolseley (WOS) 5,100.00p 1.19%
Royal Mail (RMG) 443.10p 1.12%

Fallers

Anglo American (AAL) 1,032.50p -2.23%
Rio Tinto (RIO) 3,114.50p -2.15%
BHP Billiton (BLT) 1,177.50p -2.08%
ITV (ITV) 195.80p -1.56%
Antofagasta (ANTO) 797.00p -1.54%
Glencore (GLEN) 287.50p -1.54%
Severn Trent (SVT) 2,503.00p -1.22%
Worldpay Group (WPG) 312.30p -1.01%
Schroders (SDR) 3,137.00p -0.98%
Standard Life (SL.) 381.20p -0.96%