FTSE 100 movers: Just Eat rallies; miners slump as iron ore prices drop
London's FTSE 100 was down 0.7% at 7,547.62 in afternoon trade on Friday, as investors mulled a better-than-expected non-farm payrolls report.
Sainsbury's was sitting pretty at the top of the index, with traders pointing to an upbeat note from Investec. Earlier this week, the supermarket chain reported a 1.2% drop in total retail sales, excluding fuel, for the first quarter. In April, its proposed merger with Asda was blocked by the competition watchdog.
Elsewhere, Just Eat gained as it emerged that the Competition and Markets Authority is investigating Amazon's investment in rival Deliveroo.
The CMA said it suspected the companies had "ceased to be distinct" and that they should not integrate operations without the CMA's permission. While the investigation is taking place Deliveroo and Amazon should remain separate and compete independently in markets affected by the investment, it said.
On the downside, Rio Tinto, Evraz, BHP Group and Anglo American were all weaker as iron ore and copper prices fell.
Iron ore prices took a hit on news that China's top mills have formed a group to investigate whether "non-market factors" are causing the surge in prices. They are said to have called on the government to maintain market stability.
Housebuilder Persimmon was also weaker after building materials supplier SIG said in a trading update that weak construction markets in the UK and Ireland led to a 3.8% fall in first half like-for-like sales.
FTSE 100 - Risers
Sainsbury (J) (SBRY) 206.10p 2.79%
British American Tobacco (BATS) 3,025.50p 1.97%
Just Eat (JE.) 634.60p 1.57%
Vodafone Group (VOD) 134.76p 1.38%
Royal Bank of Scotland Group (RBS) 227.50p 1.34%
Tesco (TSCO) 238.00p 1.32%
Kingfisher (KGF) 222.80p 1.27%
NMC Health (NMC) 2,490.00p 1.22%
Imperial Brands (IMB) 1,980.80p 1.22%
TUI AG Reg Shs (DI) (TUI) 800.80p 1.21%
FTSE 100 - Fallers
Aveva Group (AVV) 3,918.00p -3.55%
Rio Tinto (RIO) 4,745.00p -3.39%
Evraz (EVR) 634.80p -2.79%
Micro Focus International (MCRO) 2,101.00p -2.73%
Experian (EXPN) 2,371.00p -2.67%
BHP Group (BHP) 1,957.40p -2.67%
Smith & Nephew (SN.) 1,712.00p -2.34%
Persimmon (PSN) 1,919.00p -2.29%
Anglo American (AAL) 2,147.50p -2.01%
Croda International (CRDA) 4,874.00p -1.93%