FTSE 100 movers: Miners retreat; banks, housebuilders rally
London's FTSE 100 was down 0.5% at 7,321.10 in afternoon trade on Monday, with miners under the cosh.
Miners were weaker amid renewed doubts about a potential Sino-US trade deal and escalating tensions in Hong Kong, with Glencore, Antofagasta and Anglo American all lower. Russian steel maker Evraz was also on the back foot.
Aerospace and defence giant Rolls-Royce was knocked lower by a downgrade at Societe Generale, while Asia-focused Prudential was in the red amid after another day of violent protests in Hong Kong.
On the upside, stocks with exposure to the UK economy rallied, with banks RBS, Lloyds and Barclays and housebuilders Persimmon, Barratt Developments, Berkeley and Taylor Wimpey all higher after Nigel Farage said his Brexit Party would not stand in the 317 seats won by the Conservatives at the 2017 general election, boosting Boris Johnson's chances of success at the upcoming election.
Neil Wilson, chief market analyst at Markets.com, this was "a massive moment" for the campaign and gives the Tories a clear run at Downing Street.
"But it will not make it any easier to hoover up seats from opposition parties - the risk of the Brexit Party sucking in Leaver votes in areas being targeted by the Tories remains. For Labour and in particular the Lib Dems in the south of England, it’s going to make life very hard to dislodge incumbent Tories."
FTSE 100 - Risers
Royal Bank of Scotland Group (RBS) 222.50p 4.46%
Lloyds Banking Group (LLOY) 58.46p 3.87%
Persimmon (PSN) 2,439.32p 3.45%
Barratt Developments (BDEV) 648.00p 3.38%
Berkeley Group Holdings (The) (BKG) 4,574.00p 2.79%
Barclays (BARC) 170.24p 2.28%
BT Group (BT.A) 191.36p 2.25%
Taylor Wimpey (TW.) 171.35p 2.12%
JD Sports Fashion (JD.) 750.40p 2.07%
United Utilities Group (UU.) 846.20p 2.03%
FTSE 100 - Fallers
Evraz (EVR) 347.00p -6.42%
Ocado Group (OCDO) 1,141.00p -4.08%
Glencore (GLEN) 245.05p -3.68%
Rolls-Royce Holdings (RR.) 750.20p -3.42%
Antofagasta (ANTO) 902.80p -3.22%
NMC Health (NMC) 2,244.00p -3.19%
Smith (DS) (SMDS) 371.20p -3.18%
Anglo American (AAL) 2,004.50p -2.91%
Prudential (PRU) 1,328.50p -2.89%
Hiscox Limited (DI) (HSX) 1,234.00p -2.76%