FTSE 100 movers: Sainsbury leads the pack; Glencore and Wolseley rebound

After a poor start to the week, the FTSE 100 rebounded to 6,031.13 mid-afternoon Wednesday, up 121.89 (2.06%)

J Sainsbury led the pack after posting a positive second quarter trading statement. The supermarket giant said it expects full-year underlying pre-tax profits to be moderately ahead of its £548m forecast.

It also flagged that total retail sales for the period were up 0.3% excluding fuel sales, and down 1.8% if petrol was included. That also pushed up competitors Tesco and WM Morrison Supermarkets for the second day running.

Glencore also continued its rebound from a disastrous day on Monday. The mining company issued a statement on Wednesday and said it has taken proactive steps to position the company to withstand current commodity market conditions.

“Our business remains operationally and financially robust - we have positive cash flow, good liquidity and absolutely no solvency issues,” it said.

It was a similar story for Wolseley, after fears of a slowdown in the US and a flat market in the UK sent the shares tumbling on Tuesday and the shares since bouncing back.

FTSE 100 - Risers

Sainsbury (J) (SBRY) 259.50p +13.17%

Glencore (GLEN) 89.07p +10.99%

Tesco (TSCO) 182.75p +6.68%

Morrison (Wm) Supermarkets (MRW) 165.80p +6.21%

Aviva (AV.) 451.40p +5.37%

SSE (SSE) 1,499.00p +4.31%

Wolseley (WOS) 3,808.00p +4.16%

Prudential (PRU) 1,385.00p +4.10%

WPP (WPP) 1,376.00p +3.85%

Intertek Group (ITRK) 2,431.00p +3.62%

FTSE 100 - Fallers

Fresnillo (FRES) 593.50p -0.50%

Randgold Resources Ltd. (RRS) 3,829.00p -0.39%

Hikma Pharmaceuticals (HIK) 2,226.00p -0.31%

BG Group (BG.) 949.20p -0.04%