FTSE 100 movers: Software stocks gain, miners in the red
London’s FTSE 100 was up 0.8% at 10,811.50 in afternoon trade on Thursday.
Software-related stocks were the standout gainers on the index, with LSEG, Experian and Autotrader all higher.
On the downside, Computacenter and Scottish Mortgage Investment Trust fell after the selloff in Asian tech stocks.
Miners Antofagasta, Rio Tinto, Anglo American and Glencore all fell.
Dan Coatsworth, head of markets at AJ Bell, said: "Copper prices fell 1.6%, triggering a sell-off in base metal producers. Miners like Antofagasta and Anglo American were seen as prime beneficiaries of the AI boom as copper is a crucial raw material for the power build outs.
"Any idea of an AI bubble, and one that is primed to burst, could fuel fears that copper demand might not live up to lofty expectations. That could take some heat out of the market."
Chilean copper miner Antofagasta was also in focus after a third-quarter production update underwhelmed and as the blue chip raised its costs forecast.
FTSE 100 - Risers
BT Group (BT.A) 207.40p 4.51%
Compass Group 11 (CPG) 32.52p 3.89%
3i Group (III) 2,484.00p 3.71%
British American Tobacco (BATS) 4,416.00p 3.66%
London Stock Exchange Group (LSEG) 8,660.00p 3.61%
Experian (EXPN) 2,789.00p 3.45%
JD Sports Fashion (JD.) 91.18p 3.35%
Imperial Brands (IMB) 2,871.00p 3.24%
Autotrader Group (AUTO) 529.80p 3.12%
Whitbread (WTB) 2,615.00p 3.11%
FTSE 100 - Fallers
Computacenter (CCC) 5,070.00p -6.95%
Antofagasta (ANTO) 3,343.00p -6.30%
Halma (HLMA) 3,336.00p -4.24%
Rio Tinto (RIO) 6,679.00p -3.50%
Weir (WEIR) 2,656.00p -2.35%
Anglo American (AAL) 3,983.00p -2.30%
Scottish Mortgage Inv Trust (SMT) 1,578.00p -2.17%
Glencore (GLEN) 565.60p -2.13%
IMI (IMI) 2,940.00p -2.00%
Diploma (DPLM) 7,810.00p -1.45%