FTSE 100 movers: Miners rally on trade hopes; Hiscox drops on results
London's FTSE 100 was up 1.1% at 7,381.79 in afternoon trade on Monday amid growing optimism about a trade deal between the US and China.
Miners rose amid hopes of a US-China trade deal, with Glencore and Rio Tinto both higher.
IG market analyst Joshua Mahony said: "Conflicting reports of progress throughout recent weeks do little to provide too much stability for markets, yet there is no doubt that we feel closer than ever to seeing some form of partial deal come to fruition. With the Chile summit cancelled, the target date is likely to shift as we await confirmation of the replacement meeting between Xi Jinping and Donald Trump."
On the downside, Flutter Entertainment was the worst performer amid news that a report released by a group of MPs suggested that online casinos should be subject to maximum stake limits similar to the £2 limits imposed on fixed-odds betting terminals.
Neil Wilson, chief market analyst at Markets.com, said: "I would just say that it would be a big blow if any government were to go ahead with these recommendations given the reliance on online revenues among the big gaming stocks. I think we should be clear that this is not a manifesto pledge but simply calls by a cross-party group of MPs. But we know Labour would lap this kind of stuff up."
Hiscox was the worst performer on the top-flight index after it reported a rise in third-quarter premiums and said it had set aside $165m for claims related to hurricane Dorian and typhoons Hagibis and Faxai.
FTSE 100 - Risers
NMC Health (NMC) 2,367.00p 6.38%
Glencore (GLEN) 252.70p 4.88%
Smurfit Kappa Group (SKG) 2,742.00p 4.02%
Rio Tinto (RIO) 4,304.50p 3.27%
BP (BP.) 512.20p 3.04%
St James's Place (STJ) 1,067.50p 2.79%
Smith (DS) (SMDS) 372.93p 2.76%
Mondi (MNDI) 1,679.00p 2.75%
Kingfisher (KGF) 214.40p 2.53%
Meggitt (MGGT) 637.00p 2.51%
FTSE 100 - Fallers
Flutter Entertainment (FLTR) 7,948.00p -3.19%
Hiscox Limited (DI) (HSX) 1,435.88p -2.65%
Evraz (EVR) 373.10p -1.71%
Rentokil Initial (RTO) 446.10p -1.57%
JD Sports Fashion (JD.) 759.60p -1.35%
Land Securities Group (LAND) 924.40p -0.84%
Relx plc (REL) 1,845.00p -0.75%
Compass Group (CPG) 2,022.00p -0.74%
Next (NXT) 6,586.00p -0.66%
SSE (SSE) 1,284.91p -0.43%