FTSE 100 movers: Miners shine but TUI drops on results

London's FTSE 100 was up 0.1% to 7,444.00 in afternoon trade, with miners and oil stocks lending a hand.

Heavily-weighted mining stocks were the standout gainers as metals prices were given a boost after Chinese President Xi Jinping said over the weekend that the 'One Belt, One Road' infrastructure initiative will get financing of $78bn as Beijing looks to strengthen infrastructure and trade links with the rest of the world. This helped to offset disappointing Chinese data, as retail sales, industrial production and fixed asset investment all fell short of expectations.

Glencore, Anglo American, Antofagasta and BHP Billiton were the top risers.

Meanwhile, shares in energy companies BP and Royal Dutch Shell gushed higher as oil prices rallied after Saudi Arabia's energy minister Khalid al-Falih and Russian energy minister Alexander Novak said in Beijing that a joint deal to cut crude supplies would be extended until the end of March 2018 from the middle of this year. The 2016 agreement was to cut output by 1.8m barrels a day in the first half of this year and Russia said this latest agreement is expected to be on the same terms.

TUI Travel was on the back foot after it remains confident it can grow underlying earnings 10% this year even though seasonal losses grew in the first half.

Recent trading for summer 2017 has been in line with expectations, with revenue 8% ahead of last year as customer numbers grew 4% thanks to greater demand for Greece, Spain, Cape Verde, Cyprus and long haul destinations such as the Caribbean offsetting lower demand for Turkey and Egypt. Prices are so far ahead by 4%, with the programme 62% sold, in line with last year.

Risers

Glencore (GLEN) 293.40p 2.95%
Anglo American (AAL) 1,071.00p 2.88%
Antofagasta (ANTO) 795.00p 2.71%
BHP Billiton (BLT) 1,194.00p 2.58%
Standard Chartered (STAN) 764.30p 2.51%
BP (BP.) 468.35p 1.82%
Rio Tinto (RIO) 3,022.00p 1.75%
Royal Dutch Shell 'B' (RDSB) 2,223.50p 1.37%
Royal Dutch Shell 'A' (RDSA) 2,171.00p 1.21%
Sainsbury (J) (SBRY) 267.80p 1.13%

Fallers

TUI AG Reg Shs (DI) (TUI) 1,142.00p -4.03%
Rolls-Royce Holdings (RR.) 844.50p -2.20%
Next (NXT) 4,259.00p -1.98%
Hikma Pharmaceuticals (HIK) 1,728.00p -1.76%
DCC (DCC) 7,315.00p -1.75%
Shire Plc (SHP) 4,682.00p -1.44%
ITV (ITV) 189.70p -1.30%
Pearson (PSON) 689.50p -1.22%
Direct Line Insurance Group (DLG) 352.30p -1.21%
Relx plc (REL) 1,606.00p -1.17%