FTSE 100 movers: Housebuilders surge; miners in the red

Housebuilder Barratt Redrow surged to the top of the index following news over the weekend that there would be a new scheme to help first-time buyers. B&Q owner Kingfisher was also a high riser.

The Your First Home scheme will enable purchases of newbuild properties with a deposit of 2.5% and a government-backed equity loan worth 20% of the property’s value.

Neil Wilson, UK investor strategist at Saxo Markets, said: "It's a big shot in the arm for housebuilders as much as first-time buyers, coming as the industry is severely pressured by surging mortgage rates and inflation. Juicing demand provides the incentive to get building, though we should note the plan includes price caps so only more modest homes can be bought.

"Nevertheless, whatever the finer details this is an unambiguous win for the industry and some relief for investors in these beaten down stocks."

Shell gushed higher as oil prices shot up after US President Donald Trump rejected an Iranian proposal for a seven-day truce that would have led to the reopening of the Strait of Hormuz.

On the downside, precious metals miner Fresnillo and miners Antofagasta, Anglo American and Glencore all fell in tandem with gold and copper prices.

FTSE 100 - Risers

Barratt Redrow (BTRW) 347.80p 12.56%
Kingfisher (KGF) 338.80p 3.08%
Compass Group 11 (CPG) 30.22p 2.65%
Marks & Spencer Group (MKS) 382.30p 2.00%
Admiral Group (ADM) 3,684.00p 1.88%
Abrdn (ABDN) 250.00p 1.79%
Standard Chartered (STAN) 2,351.00p 1.64%
Airtel Africa (AAF) 304.40p 1.60%
Shell (SHEL) 3,667.50p 1.56%
SSE (SSE) 2,491.00p 1.51%

FTSE 100 - Fallers

Fresnillo (FRES) 2,728.00p -5.78%
The Sage Group (SGE) 978.20p -2.50%
Experian (EXPN) 2,556.00p -2.11%
Antofagasta (ANTO) 3,653.00p -2.04%
Anglo American (AAL) 3,962.00p -1.88%
Glencore (GLEN) 550.90p -1.80%
Relx plc (REL) 2,480.00p -1.78%
Pershing Square Holdings Ltd NPV (PSH) 3,658.00p -1.72%
Rentokil Initial (RTO) 303.30p -1.72%
Computacenter (CCC) 5,320.00p -1.48%