The UK stock market is trading flat today at 6,330.31, up 0.05%, after yesterday’s slump, ahead of the G20 meeting in Moscow and the release of key economic indicators in the US. The agenda of the G20 meeting will encompass global economic outlook, implementation of the G20 framework agreement for strong, sustainable and balanced growth, as well as financial regulation reforms. Consumer sentiment is awaited after a 0.6% drop in UK retail sales which fell more than the predicted figure of 0.5%.
Anglo American led the UK stocks rally today despite recording $4.6bn of impairment charges in 2012. The shares rose on the premise that the company managed to beat consensus forecast. But sector peers Randgold and Fresnillo headed the other way after Citigroup cut its ratings for both stocks to ‘sell’ and reduced target prices.
Food products firm Tate & Lyle was also hit after Exane BNP Paribas lowered its rating to ‘neutral’. Chemicals group Johnson Matthey stocks also were lower after it announced that it will lose commission income from restructuring a metal supply deal with Anglo American Platinum. Natural gas firm BG Group stocks were in the red after announcing that chief financial officer Fabio Barbosa is quitting and becoming chairman of BG South America.
The top ten gainers in the UK stock market today are ITV (lon:ITV) 117.00p +3.17%, Shire Plc (lon:SHP) 2,077.00p +2.47%, Antofagasta (lon:ANTO) 1,135.00p +1.70%, Kazakhmys (lon:KAZ) 760.50p +1.54%, WPP (lon:WPP) 1,034.00p +1.47%, Anglo American (lon:AAL) 2,041.00p +1.39%, ARM Holdings (lon:ARM) 935.50p +1.14%, Weir Group (lon:WEIR) 2,193.00p +1.06%, Vedanta Resources (lon:VED) 1,295.00p +1.01%, and InterContinental Hotels Group (lon:IHG) 1,963.00p +0.98%.
The top ten losers in the UK stock market today are Fresnillo (lon:FRES) 1,595.00p -3.63%, Randgold Resources Ltd. (lon:RRS) 5,600.00p -3.45%, Tate & Lyle (lon:TATE) 783.50p -2.25%, Kingfisher (lon:KGF) 270.00p -2.07%, Pearson (lon:PSON) 1,184.00p -1.91%, IMI (lon:IMI) 1,158.00p -1.86%, Johnson Matthey (lon:JMAT) 2,266.00p -1.44%, CRH (lon:CRH) 1,391.00p -1.28%, Tesco (lon:TSCO) 365.95p -1.24%, and Royal Bank of Scotland Group (lon:RBS) 343.70p -1.21%.