FTSE 100 movers: Miners rally on China stimulus; travel stocks hit
London’s FTSE 100 was up 0.7% at 6,130.45 in afternoon trade on Monday.
Miners - which are heavily dependent on demand from China - were the standout gainers after the People’s Bank of China delivered a bigger-than-expected 700 billion yuan ($101bn) short-term liquidity injection. Anglo American, Rio Tinto and Glencore were all trading higher.
Elsewhere, Persimmon rallied after Davy upped its stance on shares of the housebuilder to ‘neutral’ from ‘underperform’ following the company’s "impressive" response to the Covid-19 crisis. It said Persimmon has driven the best operational rebound post-Covid of any builder in the sector.
"This had led an upgrade to our already reasonably bullish volume outlook, which we had for the sector generally, and we upgrade the stock," it said.
On the downside, travel stocks were under the cosh as it emerged that Greece and Croatia, along with six other countries, could be next on the UK quarantine list. The UK already added France, the Netherlands and Malta - among others - last week. The sector was also hit by Germany's decision to add Spain, excluding the Canary Islands, to its list of high-risk coronavirus areas.
British Airways and Iberia parent IAG, InterContinental Hotels and Premier Inn owner Whitbread all fell.
FTSE 100 - Risers
Anglo American (AAL) 1,941.20p 3.30%
Fresnillo (FRES) 1,261.50p 3.15%
Rio Tinto (RIO) 4,820.50p 2.44%
Smurfit Kappa Group (SKG) 2,790.00p 2.42%
Ashtead Group (AHT) 2,755.00p 2.42%
Polymetal International (POLY) 2,024.00p 2.38%
Persimmon (PSN) 2,593.00p 2.33%
Glencore (GLEN) 174.42p 2.29%
Johnson Matthey (JMAT) 2,386.00p 2.10%
Kingfisher (KGF) 273.80p 2.09%
FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 186.10p -4.34%
InterContinental Hotels Group (IHG) 4,048.00p -2.41%
Whitbread (WTB) 2,389.00p -2.25%
British Land Company (BLND) 359.50p -1.86%
GVC Holdings (GVC) 756.80p -1.69%
NATWEST GROUP PLC ORD 100P (NWG) 114.20p -1.34%
Pennon Group (PNN) 1,045.50p -1.18%
Severn Trent (SVT) 2,480.00p -1.12%
Land Securities Group (LAND) 565.40p -0.81%
Smith & Nephew (SN.) 1,554.00p -0.80%