LONDON (ShareCast) - Miners have been firmly under a cloud since Goldman Sachs lowered its forecast for second quarter growth in China's gross domestic product (GDP) to 7.9% from 8.5% previously, but today several stocks were seen to be rising.
Fresnillo, Antofagasta, Polymetal and Kazakhmys were all seen heading higher, as the price of precious metals are driven higher by nervous investors. Vedanta, ENRC and Xstrata all remained firmly lower.
Banks are under the cosh on continued worries over the future of the Eurozone and as the credit agencies weigh in with more ratings cuts.
Ratings agency Fitch cut Greeces rating on Thursday to CCC from B- in order to reflect the heightened risk that the country may not be able to sustain its membership in the Economic and Monetary Union (EMU). Lloyds was leading the way lower.
Highly acquisitive firm WPP was heading lower, having announced that it is to acquire a majority stake in Russia-based digital marketing services agency, Grape.
International security solutions supplier G4S also dropped lower after announcing that it has lined up John Connolly, the Chairman of consultant engineer AMEC, to be its next Chairman to replace Alf Duch-Pedersen, who recently announced his impending retirement. Duch-Pedersen will step down after G4S's annual general meeting on June 7th. In the meantime, Connolly will sit on the board as an independent non-executive director.
FTSE 100 - Risers
CRH (CRH) 1,109.00p +2.50%
Fresnillo (FRES) 1,363.00p +2.48%
Polymetal International (POLY) 795.00p +2.32%
Antofagasta (ANTO) 1,044.00p +1.75%
Morrison (Wm) Supermarkets (MRW) 272.90p +1.64%
Centrica (CNA) 316.10p +1.35%
BG Group (BG.) 1,249.50p +1.30%
BT Group (BT.A) 205.10p +1.28%
International Consolidated Airlines Group SA (CDI) (IAG) 145.10p +1.11%
Kazakhmys (KAZ) 698.00p +1.09%
FTSE 100 - Fallers
Lloyds Banking Group (LLOY) 26.20p -5.24%
Royal Bank of Scotland Group (RBS) 20.23p -3.94%
Xstrata (XTA) 922.40p -3.53%
Vedanta Resources (VED) 958.50p -2.69%
Whitbread (WTB) 1,785.00p -2.62%
Man Group (EMG) 76.60p -2.48%
InterContinental Hotels Group (IHG) 1,405.00p -2.43%
Croda International (CRDA) 2,105.00p -2.32%
Eurasian Natural Resources Corp. (ENRC) 463.30p -2.24%
Wolseley (WOS) 2,140.00p -2.24%
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