FTSE 100 movers: Miners rally but BHP Billiton bucks the trend on UN claims

London’s FTSE 100 index was up 0.7% to 6,379.38 at 1507 GMT, with miners providing much of the support as markets were fairly calm with the US closed for the Thanksgiving holiday.

Heavily-weighted mining stocks were the standout gainers as base and precious metals price rose.

Glencore, Antofagasta, Fresnillo, Anglo American and Randgold Resources were all firmly in the black.

Fellow miner BHP Billiton bucked the trend, however, after it hit back at claims that waste from the tailings burst at the Samarco mine in Brazil is toxic.

An investigation carried out by the United Nations concluded that waste from the burst dam was toxic and the measures taken by BHP and its partner Vale to prevent any damage being done were “clearly insufficient.”

However, BHP refuted the claims, saying the tailings were chemically stable.

“The tailings that entered the Rio Doce were comprised of clay and silt material from the washing and processing of earth containing iron ore, which is naturally abundant in the region. Based on available data, the tailings are chemically stable. They will not change chemical composition in water and will behave in the environment like normal soils in the catchment,” it said.

Aviva was a touch weaker after RBC Capital Markets downgraded the stock to ‘underperform’ from ‘sector perform’ based on the company’s solvency ratio and as it steps away from the bulk annuities market.

RBC said Aviva’s economic capital coverage ratio at 172% was towards the lower end of what investors would find acceptable.

Elsewhere, utility National Grid was lower as the stock went ex-dividend.

Risers

Glencore (GLEN) 94.93p 4.80%
Antofagasta (ANTO) 515.50p 3.39%
Fresnillo (FRES) 741.00p 2.85%
International Consolidated Airlines Group SA (CDI) (IAG) 567.00p 2.81%
Standard Life (SL.) 414.50p 2.75%
Anglo American (AAL) 428.35p 2.67%
Randgold Resources Ltd. (RRS) 4,147.00p 2.40%
BAE Systems (BA.) 518.50p 2.17%
Burberry Group (BRBY) 1,237.00p 2.15%
Royal Mail (RMG) 491.40p 1.99%

Fallers

BHP Billiton (BLT) 833.10p -2.39%
National Grid (NG.) 929.90p -1.69%
Rolls-Royce Holdings (RR.) 601.50p -0.91%
Pearson (PSON) 829.50p -0.72%
Sky (SKY) 1,111.00p -0.63%
Smiths Group (SMIN) 1,027.00p -0.58%
Intu Properties (INTU) 322.10p -0.49%
Land Securities Group (LAND) 1,226.00p -0.49%
Aviva (AV.) 511.50p -0.49%
Legal & General Group (LGEN) 271.00p -0.33%