FTSE 100 movers: Oil giants gush higher; Persimmon hit by downgrade
By Michele Maatouk
Date: Monday 06 Dec 2021
(Sharecast News) - London's FTSE 100 was up 1.3% at 7,215.24 in afternoon trade on Monday.
Anglo American was the top performer, while Glencore racked up solid gains as metals price rose.
BP and Shell were among the risers as oil prices gained after Saudi Arabia raised prices for crude sold to Asia and the US.
Cybersecurity firm Darktrace was on the back foot after saying it had started a £30m share buyback programme. The company will buy back up to 4 million ordinary shares by the end of 2022.
Persimmon was weaker after a downgrade to 'underweight' from 'overweight' at JPMorgan. The bank said that following recent house price inflation, it expects affordability to come under further pressure in 2022 as interest rates and the cost of living rise.
"Forward order books provide short-term protection to volumes, however, we see particular demand risks for first-time buyers, where rising interest rates have a more pronounced impact on mortgage costs.
"Help to Buy ends in early 2023 and currently accounts for c20% of the sector's private sales - this poses a transition risk. Our analysis shows that Persimmon is most exposed to these risks, given its product and customer mix."
FTSE 100 - Risers
Anglo American (AAL) 2,806.50p 3.29%
Hikma Pharmaceuticals (HIK) 2,268.00p 3.23%
Intertek Group (ITRK) 5,616.00p 2.86%
Flutter Entertainment (CDI) (FLTR) 10,285.00p 2.54%
BP (BP.) 349.00p 2.39%
Burberry Group (BRBY) 1,807.50p 2.38%
Royal Dutch Shell 'B' (RDSB) 1,684.60p 2.31%
Glencore (GLEN) 359.55p 2.17%
Royal Dutch Shell 'A' (RDSA) 1,686.60p 2.13%
ITV (ITV) 112.65p 1.99%
FTSE 100 - Fallers
Ocado Group (OCDO) 1,593.50p -2.03%
3i Group (III) 1,389.50p -1.35%
Darktrace (DARK) 421.80p -1.17%
Scottish Mortgage Inv Trust (SMT) 1,382.50p -1.00%
Persimmon (PSN) 2,779.00p -0.96%
Ferguson (FERG) 11,505.00p -0.95%
Johnson Matthey (JMAT) 2,027.00p -0.78%
Polymetal International (POLY) 1,350.00p -0.37%
Rolls-Royce Holdings (RR.) 124.46p -0.35%
Avast (AVST) 603.00p -0.33%
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN