LONDON (ShareCast) - Miners and financial stocks were among the best performers of the day on Monday as the Footsie rebounded after slumping to a six-month low on Friday.
Vedanta Resources, Polymetal, Xstrata and Glencore were making decent gains in afternoon trade on rumours that China could act to counter a slowdown after Premier Wen Jiabao called for "putting stabilising growth in a more important position". According to the Chinese Securities Journal, the world's second-largest economy could announce stimulus measures in the near term.
In contrast, precious metals group Fresnillo was among the worst performers as gold and silver prices took a hit.
Hedge fund manager Man Group was a high riser after saying it is set to pay up to $142.8m for FRM Holdings, a global hedge fund research and investment specialist. Man and FRM's combined multi-manager business will have total funds under management of approximately $19bn, making it the largest independent non-US based fund of hedge funds.
Global banking group HSBC rose after completing the sale of 195 US retail branches to First Niagara Bank for $0.9bn, first announced in July last year.
Barclays was on the rise after announcing its intension to dispose of its entire holding in BlackRock. The transaction will be by way of an offering and related buyback by Blackrock itself, and is likely to cost around £3.8bn based on the valuation at the close of trading last Friday.
FTSE 100 - Risers
Vedanta Resources (VED) 1,013.00p +5.69%
Man Group (EMG) 79.00p +4.91%
Royal Bank of Scotland Group (RBS) 20.84p +4.25%
Polymetal International (POLY) 832.50p +4.19%
Standard Chartered (STAN) 1,329.00p +3.30%
Xstrata (XTA) 943.80p +3.18%
Aggreko (AGK) 2,093.00p +2.90%
Tullow Oil (TLW) 1,374.00p +2.84%
IMI (IMI) 881.00p +2.62%
Croda International (CRDA) 2,147.00p +2.53%
FTSE 100 - Fallers
Fresnillo (FRES) 1,322.00p -2.65%
Aberdeen Asset Management (ADN) 237.90p -1.33%
Centrica (CNA) 311.10p -1.24%
Tesco (TSCO) 310.55p -1.00%
United Utilities Group (UU.) 618.00p -0.72%
SSE (SSE) 1,326.00p -0.53%
Severn Trent (SVT) 1,648.00p -0.42%
Imperial Tobacco Group (IMT) 2,407.00p -0.37%
Morrison (Wm) Supermarkets (MRW) 270.60p -0.22%
BT Group (BT.A) 203.60p -0.20%