FTSE 100 movers: Miners plummet as copper hits five-year low, oil companies continue south

Mining stocks fell across the board though those exposed to the copper sector were hit the hardest after copper prices fell to five and a half year lows to $5,353.25 a metric ton. Antofagasta and Anglo American fared badly, but Glencore fared the worst, falling over 11% to a new record low.

Only eight of the 100 companies rose on Wednesday, with Tesco topping the risers after receiving an upgrade to ‘outperform’ from BNP Paribas on Wednesday morning. Billionaire activist investor Bill Ackman also revealed that he had considered investing in Tesco on Bloomberg TV’s ‘The Pulse’.

ARM Holdings, a chipbuilder working with Apple, was boosted after Apple was granted a patent for a wearable camera, set to rival action cameras made by GoPro Inc. The device would be mountable of bike helmets or scuba masks and would be capable of recording sounds, as well as taking pictures.

As Brent crude continued to tumble to $45 a barrel, BG Group, Tullow Oil and BP share prices all headed south.

Burberry Group slumped after a slowdown in the company’s high-margin Hong Kong market was revealed. Asian revenues only grew in the ‘low’ single digits, representing a sharp slowdown from the first half due to ‘disruption’ in Hong Kong, where sales fell slightly.

Risers

Tesco (TSCO) 217.35p +2.52%

Royal Mail (RMG) 434.80p +1.59%

Hammerson (HMSO) 634.00p +1.12%

BT Group (BT.A) 403.00p +0.80%

Aviva (AV.) 492.60p +0.37%

Friends Life Group Limited (FLG) 372.50p +0.35%

ARM Holdings (ARM) 993.50p +0.35%

United Utilities Group (UU.) 946.00p +0.32%

Fallers

Anglo American (AAL) 1,048.50p -8.47%

Glencore (GLEN) 246.25p -8.44%

BHP Billiton (BLT) 1,282.50p -5.49%

Standard Chartered (STAN) 881.00p -5.43%

Ashtead Group (AHT) 1,029.00p -5.07%

Antofagasta (ANTO) 675.00p -4.80%

Intertek Group (ITRK) 2,254.00p -4.61%

Rio Tinto (RIO) 2,796.00p -4.25%

Weir Group (WEIR) 1,623.00p -4.08%

Coca-Cola HBC AG (CDI) (CCH) 1,097.00p -3.60%