The UK stock market gained 29.97 points, or 0.5%, at 5,823.29 by 1234 pm today, with banks advancing 1.1%, and miners falling 0.5%, with investors displaying caution in the run-up to growth data out of top metals consumer China on Thursday, which seems to be heading towards a mild slowdown.
Hargreaves Lansdown, the financial services provider, continues to make gains following Friday’s interim results, in which it reported record levels of revenue, assets under administration and client numbers in the second quarter. Hargreaves Lansdown has steadily risen over the past half year, with shares were trading around the 730p mark this morning, up from the 500p level seen six months ago.
Anglo American, Evraz, Kazakhmys and Rio Tinto stocks were being weighed down this morning after Goldman Sachs lowered its views on the mining stocks. Tate & Lyle, the food products group, rose after Jefferies upgraded the stock from ‘hold’ to ‘buy’ and hiked its target price from 690p to 800p.
Royal Bank of Scotland (RBS) shares dropped after announcing that Spanish counterpart Santander has retraced from the agreement to purchase 316 RBS branches in the UK.
The top ten gainers of the day at the UK stock market include Hargreaves Lansdown 730.00p +2.53%, Kingfisher 273.80p +1.97%, Standard Chartered 1,455.00p +1.93%, Bunzl 1,114.00p +1.83%, British Land Co 531.50p +1.82%, Whitbread 2,390.00p +1.75%, ITV 91.10p +1.73%, Babcock International Group 978.00p +1.66%, Capita 747.00p +1.49%, and Land Securities Group 796.00p +1.47%.
The top ten losers of the day at the UK stock market include Kazakhmys 697.50p -2.52%, Anglo American 1,797.00p -1.51%, Evraz 231.20p -1.32%, Eurasian Natural Resources Corp. 325.00p -1.19%, Royal Bank of Scotland Group 267.90p -1.11%, Rio Tinto 2,990.50p -1.04%, Tesco 308.35p -0.53%, Vedanta Resources 1,080.00p -0.46%, ARM Holdings 576.00p -0.43%, and Vodafone Group 174.30p -0.29%.