FTSE 100 movers: Standard Chartered soars on upgrade, miners higher

Standard Chartered topped the risers after having its rating upgraded from ‘neutral’ to ‘overweight’ at JPMorgan. The broker said: “We believe that last week’s UK budget may lead the market to attach a higher probability of strategic actions to change domicile and unlock value."

Miners such as BHP Billiton, Antofagasta, Rio Tinto and Glencore were all making gains, along with oil heavyweights Shell and BG Group.

In contrast, shares in Weir Group were being weighed down by a ratings cut at RBC Capital Markets, which said that the risk-reward for new investors is now balanced. The broker lowered its stance on the engineering outfit from 'top pick' to 'sector perform' and slashed its target price from 2,150p to 1,850p.

Carnival had its rating lowered from 'buy' to 'hold' over at Deutsche Bank, pushing the cruise operator lower.

Engineer Meggit also fell after a downgrade, as Bernstein cut its stance to market perform from outperform.

Risers

Standard Chartered (STAN) 1,156.50p +7.93%
BHP Billiton (BLT) 1,580.50p +2.70%
3i Group (III) 506.50p +1.97%
Royal Dutch Shell 'A' (RDSA) 2,099.50p +1.72%
Antofagasta (ANTO) 726.50p +1.68%
Royal Dutch Shell 'B' (RDSB) 2,205.50p +1.59%
Intu Properties (INTU) 360.70p +1.55%
BG Group (BG.) 896.10p +1.37%
Glencore (GLEN) 303.40p +1.37%
Rio Tinto (RIO) 2,949.50p +1.20%

Fallers
Weir Group (WEIR) 1,791.00p -2.72%
Burberry Group (BRBY) 1,832.00p -2.35%
Shire Plc (SHP) 5,565.00p -2.11%
Carnival (CCL) 3,136.00p -2.03%
Meggitt (MGGT) 565.50p -1.57%
Dixons Carphone (DC.) 420.50p -1.57%
InterContinental Hotels Group (IHG) 2,659.00p -1.45%
Mondi (MNDI) 1,329.00p -1.41%
Standard Life (SL.) 479.90p -1.38%
TUI AG Reg Shs (DI) (TUI) 1,163.00p -1.36%