FTSE 100 movers: UK stocks down following disappointing data

The continuing fall in oil prices and disappointing data from the services sector dragged the FTSE 100 down to its lowest level in three weeks.

Equipment rental firm Ashtead saw its shares drop by 7.95%. The fall was driven by its US peer United Rentals which was hit with a broker downgrade on Monday night.

Evercore lowered its rating for United Rentals from ‘buy’ to ‘sell’, saying that the recent collapse in oil will affect energy investments and the construction market.

Nostrum Oil & Gas also fell sharply on Tuesday following news that Brent crude has fallen below $53 per barrel for the first time since May 2009.

Sports Direct International was trading lower as investors reacted to the news of the collapse of sector peer Bank Fashion.

The Manchester-based retailer entered into administration on Tuesday, raising concerns of turmoil in the sector following a tough Christmas period, impacted by big discounts and people’s preference for internet sales.

UK services PMI in December came worst-than-expected at 55.8, a decrease from 58.6 the month before and against forecasts for a 58.5 reading.

On a more positive note, mining stocks were edging higher, including Anglo American, Fresnillo, Rio Tinto and Randgold, thanks to an increase of gold and silver prices.

Gold was up for the second straight day as concerns about a potential Greek exit from the Eurozone spurred safe-haven demand.

German Chancellor Angela Merkel is reportedly planning to accept a Greek euro exit ahead of the Mediterranean country’s elections in three weeks.

The sector was also helped by improved service-sector figures from China. HSBC’s China services PMI for December rose from 53 to 53.4.

FTSE 100 - Risers
Randgold Resources Ltd. (RRS) 4,750.00p +4.72%
Anglo American (AAL) 1,171.00p +3.95%
Fresnillo (FRES) 796.00p +3.58%
Rio Tinto (RIO) 2,970.00p +3.00%
Shire Plc (SHP) 4,615.00p +2.85%
BG Group (BG.) 860.70p +2.26%
BP (BP.) 398.00p +2.13%
Old Mutual (OML) 187.80p +2.12%
Weir Group (WEIR) 1,799.00p +1.98%
BHP Billiton (BLT) 1,342.00p +1.94%

FTSE 100 - Fallers
Ashtead Group (AHT) 1,103.00p -6.68%
ARM Holdings (ARM) 954.00p -3.34%
Kingfisher (KGF) 320.30p -2.38%
Sports Direct International (SPD) 698.50p -2.10%
Smiths Group (SMIN) 1,056.00p -1.95%
RSA Insurance Group (RSA) 423.80p -1.74%
Aberdeen Asset Management (ADN) 418.10p -1.60%
Travis Perkins (TPK) 1,784.00p -1.55%
Taylor Wimpey (TW.) 131.80p -1.49%
Dixons Carphone (DC.) 448.20p -1.28%