FTSE 100 movers: Miners and energy shares rally as traders go bargain-hunting

Bargain hunting appeared to be the general theme on Wednesday as investors looked to nab a good deal just ahead of the Christmas break, with volumes thinning and many traders already away from their desks.

Heavily-weighted miners were the standout gainers on the FTSE 100 as copper prices advanced, with Anglo American, Glencore, BHP Billiton and Rio Tinto all sharply higher.

Energy-related shares were also on the front foot as oil prices rallied, with BG Group and Royal Dutch Shell up. West Texas Intermediate was 1.8% higher at $36.79 a barrel and Brent crude was 1.7% firmer at $36.71.

“With a bounce in crude prices overnight, which look like for now to have found a bottom with support around the mid $30 level, the mining and energy sectors are benefitting from some bargain hunting,” said Simon Smith, chief economist at FxPro.

“A shadow of their former selves these stocks have performed woefully throughout the year and where there’s any bounce in commodity prices there’s going to be a corresponding move in these sectors.”

Risers

Anglo American (AAL) 319.90p 7.89%
BG Group (BG.) 992.20p 6.72%
Glencore (GLEN) 91.49p 6.58%
BHP Billiton (BLT) 773.60p 6.26%
Rio Tinto (RIO) 2,009.00p 5.82%
Rolls-Royce Holdings (RR.) 595.50p 5.31%
Royal Dutch Shell 'B' (RDSB) 1,561.00p 4.55%
Tesco (TSCO) 151.05p 4.28%
Royal Dutch Shell 'A' (RDSA) 1,548.00p 4.17%
Johnson Matthey (JMAT) 2,733.00p 3.92%

Fallers

Sports Direct International (SPD) 559.50p -0.62%
Next (NXT) 7,180.00p -0.21%
SABMiller (SAB) 4,042.50p 0.00%
Provident Financial (PFG) 3,279.00p 0.15%
Kingfisher (KGF) 328.40p 0.31%
Direct Line Insurance Group (DLG) 407.10p 0.39%
London Stock Exchange Group (LSE) 2,695.00p 0.52%
Barratt Developments (BDEV) 616.50p 0.57%
International Consolidated Airlines Group SA (CDI) (IAG) 596.00p 0.59%
Berkeley Group Holdings (The) (BKG) 3,688.00p 0.60%