FTSE 100 movers: Evraz drops, Fresnillo climbs

London's FTSE 100 was lower by 1.72% at 7,160.65 in afternoon trade on Tuesday, with Evraz leading the index downward.

The steelmaker was joined in the red by miners BHP and Glencore, with the trio dropping after comments from US President Donald Trump raised fears that a Sino-US trade deal will not be completed in the near future.

IG analyst Chris Beauchamp said: "The fall in global firms like BHP and Reckitt will be partly linked to the sudden outburst of trade tensions, with the US yesterday seemingly engaged in an attempt to annoy almost all its trade partners at once. This will revive fears of slowing global growth."

Online supermarket Ocado was under the cosh for the second day in a row after announcing a £500m bond offering on Monday.

Up at the other end of the index, precious metals miners Fresnillo and Polymetal topped the risers as gold prices reached a one week high.

Drinks company Diageo rose after analysts at RBC Capital Markets raised their rating of the stock to ‘outperform’ from ‘sector perform’ on Tuesday, hiking the price target to 3,500p from 3,100p as they praised the business' willingness to invest in its own growth.

"Marketing/sales has risen in each of the last three years; this looks likely to continue. Sales growth has done likewise, and with consumer sentiment for its largest brands amongst the most favourable in the alcoholic beverages sector according to RBC Elements (our data science team) we expect it to remain robust," said analysts.

Finally, online property portal operator Rightmove gained after an upgrade to ‘neutral’ at Goldman Sachs.

Market Movers

FTSE 100 (UKX) 7,160.65 -1.72%

FTSE 100 - Risers

Fresnillo (FRES) 591.80p 3.57%
Polymetal International (POLY) 1,193.50p 1.96%
Halma (HLMA) 2,115.00p 0.91%
Severn Trent (SVT) 2,217.00p 0.77%
Aveva Group (AVV) 4,532.00p 0.62%
British Land Company (BLND) 569.80p 0.60%
United Utilities Group (UU.) 849.80p 0.43%
Diageo (DGE) 3,129.50p 0.18%
SEGRO (SGRO) 864.40p 0.16%
Rightmove (RMV) 620.20p 0.10%