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FTSE 100 movers: Burberry, miners out of fashion
(Sharecast News) - London's FTSE 100 was down 0.9% at 7,905.36 in afternoon trade on Wednesday. Luxury fashion brand Burberry was the worst performer on the index. CMC Markets analyst Michael Hewson said "some lukewarm reaction to the new fashion line from creative designer Daniel Lee, prompted some profit taking".
Rio Tinto fell as it halved its dividend as profits slumped by more than a third due to weaker iron ore prices on the back of slowing demand from China and higher costs.
Miners more broadly were under pressure, with Anglo American, Glencore and Antofagasta all weaker.
Russ Mould, investment director at AJ Bell, said: "The risk-off mentality explains why miners were among the biggest fallers. An assumption that rates could continue to rise theoretically raises the risk of more damage to the economy, and commodity producers' fortunes are highly sensitive to economic activity."
Engine maker Rolls-Royce was in the red ahead of its full-year results on Thursday.
FTSE 100 - Risers
Relx plc (REL) 2,536.00p 1.81% Reckitt Benckiser Group (RKT) 5,802.00p 1.43% Rentokil Initial (RTO) 515.80p 1.42% Coca-Cola HBC AG (CDI) (CCH) 2,133.00p 1.19% Compass Group (CPG) 1,942.00p 0.91% Smith & Nephew (SN.) 1,220.50p 0.83% BT Group (BT.A) 140.25p 0.68% Diageo (DGE) 3,600.00p 0.60% NATWEST GROUP (NWG) 281.00p 0.50% Unilever (ULVR) 4,259.50p 0.50%
FTSE 100 - Fallers
Burberry Group (BRBY) 2,481.00p -4.28% Rio Tinto (RIO) 6,001.00p -3.27% Anglo American (AAL) 3,058.00p -3.04% Glencore (GLEN) 489.30p -2.78% Antofagasta (ANTO) 1,674.50p -2.76% Fresnillo (FRES) 774.00p -2.40% Endeavour Mining (EDV) 1,736.00p -2.25% Rolls-Royce Holdings (RR.) 107.58p -2.18% Airtel Africa (AAF) 122.10p -2.16% HSBC Holdings (HSBA) 635.50p -1.85%
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