FTSE 100 movers: Miners gain on China data; Provident hit by downgrade

London's FTSE 100 was up 0.9% to 7,376.45 in afternoon trade as the pound slumped against the dollar after disappointing UK manufacturing data.

Heavily-weighted mining stocks got a boost as China's Caixin manufacturing PMI for June came in at 50.4 from 49.6 in May, beating expectations for a drop to 49.8 and marking a three-month high. Glencore, Antofagasta, Anglo American and Rio Tinto all racked up healthy gains.

Energy company Centrica was trading higher despite Ofgem proposing a price cap on energy bills to protect vulnerable consumers.

On the downside, Provident Financial was the biggest faller following a research note by Numis, which downgraded its stance on the stock to 'sell' from 'reduce' and cut the price target to 1,929p from 2,335p. The brokerage said Provident is well managed and has a good business that creates a substantial economic profit through the cycle.

"We do however believe that it is substantially more economically sensitive today than it was at the time of the credit crisis when the P&L was dominated by the Home Collected Credit (HCC) business."

Sainsbury's was on the back foot ahead of its first-quarter trading statement on Tuesday.

Risers

Glencore (GLEN) 295.40p 2.86%
Antofagasta (ANTO) 821.00p 2.69%
Anglo American (AAL) 1,049.50p 2.49%
Rio Tinto (RIO) 3,317.00p 2.31%
Centrica (CNA) 204.30p 2.05%
Marks & Spencer Group (MKS) 339.00p 1.71%
Royal Bank of Scotland Group (RBS) 251.30p 1.66%
BHP Billiton (BLT) 1,195.50p 1.66%
HSBC Holdings (HSBA) 723.50p 1.66%
Worldpay Group (WPG) 319.20p 1.40%

Fallers

Provident Financial (PFG) 2,365.00p -2.79%
Sainsbury (J) (SBRY) 247.80p -1.55%
Morrison (Wm) Supermarkets (MRW) 237.60p -1.49%
BT Group (BT.A) 291.10p -1.24%
Hammerson (HMSO) 568.00p -1.13%
Coca-Cola HBC AG (CDI) (CCH) 2,234.00p -1.06%
Micro Focus International (MCRO) 2,247.00p -1.06%
Compass Group (CPG) 1,604.00p -0.99%
TUI AG Reg Shs (DI) (TUI) 1,108.00p -0.98%
SEGRO (SGRO) 484.50p -0.96%