Sector movers: ITV leads media shares lower as metals struggle
Media and metal stocks were seen leading the London market lower on Friday, while mining, and oil-related stocks staged a recovery from the previous session.
BP
409.55p
17:15 20/09/24
Evraz
0.00p
17:30 03/09/24
FTSE 100
8,229.99
17:14 20/09/24
FTSE 250
20,831.84
16:39 20/09/24
FTSE 350
4,543.89
16:49 20/09/24
FTSE All-Share
4,501.08
17:04 20/09/24
Glencore
378.70p
17:15 20/09/24
Industrial Metals & Mining
5,903.39
16:49 20/09/24
ITV
80.65p
16:54 20/09/24
Media
12,658.57
16:49 20/09/24
Mining
11,503.14
16:49 20/09/24
Oil & Gas Producers
8,201.89
16:49 20/09/24
Oil Equipment, Services & Distribution
4,928.34
16:30 13/09/24
Petrofac Ltd.
17.26p
16:40 20/09/24
At 1459 BST, the FTSE 100 was down 0.21% or 13.93 points at 6,733.16, while the FTSE 250 was down 0.31% or 55.63 points at 17,690.21 with ITV (down 3.57%) pulling the media sector lower, and Evraz (down 7.46%) having a similar effect on metal stocks.
Past the midway point in trading on the London Metal Exchange, most three-month base metal delivery contracts, except primary aluminium (up 0.3%), were seen registering declines. Copper (down 0.6%), lead (down 0.6%), nickel (down 0.4%), tin (1.5%) and zinc (0.4%) were all trading lower.
Nonetheless, blue chip and midcap mining stocks posted an uptick, unlike the metal companies. Anglo American (up 2.72%) and Glencore (up 2.26%) led the way for the blue chips, while Vedanta (up 9.61%) did likewise for the midcaps.
Although, the oil market endured another volatile session, with Brent still below $50 a barrel at the time of writing, oil and gas stocks staged a recovery with oilfield services giant Weir Group (up 2.98%) among the FTSE 100’s biggest risers, and BP – the previous session’s biggest faller – closeby gaining 1.63% or 6.25p to 389.45p. Additionally, Petrofac (up 3.16%) was keeping midcap oil and gas stocks ticking.
Overnight declines in media stocks stateside saw, ITV shed 3.57% or 9.70p to 262.20p. Knock-on effects on the sector saw Informa, UBM and Pearson dragged lower with the media sector index as whole down 1.02%