FTSE 100 movers: Shire gains on update; miners drop

London's FTSE 100 was up 0.6% to 7,245.05 in afternoon trade as investors digested upbeat UK manufacturing data.

Shire, which completed its $32bn merger with Baxalta last June, was the standout gainer after it reported a 109% surge in revenues for the first quarter as it said it was on course to achieve its full-year guidance.

Total revenues rose to $3.6bn, with product sales up 110% to $3.4bn and sales excluding legacy Baxalta up 11% to $1.8bn.

The company attributed the jump in sales to growth in its genetic diseases and internal medicine franchises, where sales were up 14% and 9%, respectively. Sales in the ophthalmology franchise also made a solid contribution.

Operating income was up 82% to $1.5bn and earnings per ADS were up 14% to $3.63.

Standard Life was also a high riser after Aberdeen Asset Management said its proposed merger with the company was on track, as it posted a rise in first-half revenues as outflows slowed.

In the six months to the end of March, revenue was up 10.6% to £534.9m, boosted by markets and currencies, with underlying pre-tax profit 19.8% higher at £195.2m.

Mining stocks were on the back foot, however, as major consumer China released disappointing manufacturing data. Caixin's manufacturing sector purchasing managers' index fell from a reading of 51.2 for March to 50.3 in April, its lowest level since last September. Economists had forecast a reading of 51.3.

Antofagasta, Anglo American, Fresnillo,Randgold, Glencore and Rio Tinto were all weaker.

FTSE 100 - Risers

Shire Plc (SHP) 4,697.50p 3.54%
Standard Life (SL.) 375.00p 3.05%
CRH (CRH) 2,889.00p 2.48%
Worldpay Group (WPG) 307.30p 2.43%
Croda International (CRDA) 3,855.00p 2.42%
Persimmon (PSN) 2,384.00p 2.32%
Sainsbury (J) (SBRY) 281.60p 2.25%
Barratt Developments (BDEV) 592.50p 2.24%
Intertek Group (ITRK) 4,157.00p 2.24%
Legal & General Group (LGEN) 251.00p 1.99%

FTSE 100 - Fallers

Antofagasta (ANTO) 809.50p -3.40%
Anglo American (AAL) 1,078.00p -2.58%
Fresnillo (FRES) 1,415.00p -2.55%
Randgold Resources Ltd. (RRS) 6,635.00p -2.50%
Glencore (GLEN) 296.15p -2.47%
Standard Chartered (STAN) 708.90p -1.71%
Ashtead Group (AHT) 1,609.00p -1.35%
BHP Billiton (BLT) 1,161.50p -1.15%
Barclays (BARC) 210.05p -1.04%
Rio Tinto (RIO) 3,038.50p -0.77%