FTSE 100 movers: Miners slump on China data but Randgold shines

London’s FTSE 100 was down 2.2% to 6,106.37 at 1418 GMT, kicking off the new year with broad-based losses following the release of uninspiring Chinese data.

Heavily-weighted miners, which are heavily reliant on demand from China, were hit hard following the release of disappointing Chinese manufacturing figures.

The latest purchasing managers’ index from Caixin showed a drop to 48.2 in December from 48.6 in the previous month, missing expectations for a jump to 48.9 and sparking fresh concerns about a slowdown in the world’s second-largest economy.

The Caixin PMI is a closely-watched gauge of nationwide manufacturing activity focusing on smaller and medium-sized companies that aren’t covered by the official data.

Glencore, Anglo American and Antofagasta were all firmly in the red.

Meanwhile, emerging-markets focused bank Standard Chartered was also under pressure, along with insurer Prudential.

Elsewhere, pharmaceuticals company Shire was in the red following speculation it was close to completing a takeover of US rival Baxalta Inc.

Insurer Aviva slid as analysts estimated the cost of the recent UK floods. Peel Hunt said that whilst manageable, the losses from the storms may have a noticeable impact on second half results for insurers such as Aviva and RSA Insurance.

African gold miner Randgold Resources bucked the trend, racking up solid gains amid firmer gold prices, as investors looked for somewhere safe to park their cash following the Chinese data and heightened tensions between Saudi Arabia and Iran.

Risers

Randgold Resources Ltd. (RRS) 4,259.00p 2.80%
easyJet (EZJ) 1,760.00p 1.15%
TUI AG Reg Shs (DI) (TUI) 1,210.00p -0.08%
Smiths Group (SMIN) 935.00p -0.48%
SABMiller (SAB) 4,046.50p -0.57%
Worldpay Group (WI) (WPG) 305.20p -0.68%
BG Group (BG.) 978.20p -0.69%
United Utilities Group (UU.) 927.00p -0.91%
GlaxoSmithKline (GSK) 1,360.50p -0.91%
Land Securities Group (LAND) 1,165.00p -1.02%

Fallers

Standard Chartered (STAN) 531.70p -5.68%
Glencore (GLEN) 85.43p -5.58%
Old Mutual (OML) 169.50p -5.25%
Anglo American (AAL) 283.75p -5.24%
Prudential (PRU) 1,455.00p -4.96%
Antofagasta (ANTO) 449.30p -4.26%
Aviva (AV.) 495.00p -4.07%
Standard Life (SL.) 374.20p -3.98%
Shire Plc (SHP) 4,523.00p -3.72%
St James's Place (STJ) 970.50p -3.72%