FTSE 100 movers: Miners rally; Rolls-Royce gains on Meggitt news
By Michele Maatouk
Date: Friday 07 May 2021
(Sharecast News) - London's FTSE 100 was up 0.7% at 7,121.96 in afternoon trade on Friday.
Miners Anglo American and Glencore were both in the black as metals prices rallied.
Neil Wilson, chief market analyst at Markets.com, said: "A monster commodity rally continues as the global economy heats up, and massive but messy rotation out of the tech/growth/momentum plays into more cyclical/value parts of the market.
"Copper rallied to an all-time high, aluminium is extending gains. Palm oil 13-year high, iron ore and steel at all-time highs. There is yet room to run higher in the commodity space."
Rolls-Royce was a high riser, with traders pointing to read-across from deal news regarding FTSE 250 aerospace engineer Meggitt. Shares in the latter were sharply higher following a report that US-based Woodward could be looking to buy the group.
According to Dealreporter, Woodward is working with an investment bank as it considers potential deals and Meggitt is in the frame.
FTSE 100 - Risers
Anglo American (AAL) 3,396.00p 4.00%
Ocado Group (OCDO) 1,970.00p 3.68%
Glencore (GLEN) 322.35p 3.22%
Barclays (BARC) 182.16p 2.86%
Rolls-Royce Holdings (RR.) 106.28p 2.79%
Intermediate Capital Group (ICP) 2,127.00p 2.75%
Compass Group (CPG) 1,611.50p 2.42%
Avast (AVST) 462.40p 2.21%
Pearson (PSON) 844.60p 2.20%
NATWEST GROUP PLC ORD 100P (NWG) 201.00p 2.19%
FTSE 100 - Fallers
Antofagasta (ANTO) 1,893.50p -1.64%
Berkeley Group Holdings (The) (BKG) 4,711.00p -0.86%
BT Group (BT.A) 169.75p -0.85%
Unilever (ULVR) 4,275.50p -0.67%
Croda International (CRDA) 6,714.00p -0.47%
Standard Chartered (STAN) 517.60p -0.46%
HSBC Holdings (HSBA) 453.05p -0.46%
Mondi (MNDI) 1,957.50p -0.38%
St James's Place (STJ) 1,389.00p -0.36%
Johnson Matthey (JMAT) 3,257.00p -0.25%a
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