FTSE 100 movers: Miners jump; Tullow sinks after well update

23rd Jul 2013 14:44

Mining stocks were among the best performing stocks on Tuesday as concerns over a 'hard landing' in China were eased by comments from the Premier and his second in command.Chinese Premier Li Keqiang is reported to have stood by the government target for economic growth of 7.5% in 2013 and assured that the pace of expansion would not fall below the "bottom line" of 7.0%. Meanwhile, Vice Premier Zhang Gaoli has said that the ruling party would continue to support infrastructure and social welfare investments.Glencore Xstrata, Vedanta, Rio Tinto, Fresnillo, ENRC, Anglo American, BHP Billiton and Antofagasta were making solid gains in afternoon trade.Accountancy software firm Sage was also a high riser after saying it is confident of delivering its targets as trading in the third quarter was in line with expectations.Heading the other way was oil giant Tullow after the company said it had plugged and abandoned an exploration well in Mozambique and another in French Guiana.Budget airline easyJet was also in the red ahead of its third-quarter trading update due on Wednesday morning; British Airways owner IAG was also lower. The falls come after sector peer Ryanair announced its decision to sell its 29% stake in Irish airline Aer Lingus to another EU airline.Speciality chemicals firm Croda fell after its interim results, in which it reported a 6.3% year-on-year rise in pre-tax profit and an 8.4% increase in the dividend. The company admitted that the "challenging trading environment has inevitable held back certain parts of the business".Hotels group InterContinental was also out of favour after Exane BNP Paribas downgraded the stock to 'neutral' and cut its target price from 2,100p to 2,040p.FTSE 100 - RisersGlencore Xstrata (GLEN) 281.45p +4.63%Sage Group (SGE) 367.50p +4.17%Vedanta Resources (VED) 1,160.00p +2.93%Rio Tinto (RIO) 2,981.00p +2.70%Fresnillo (FRES) 1,092.00p +2.63%Eurasian Natural Resources Corp. (ENRC) 218.40p +2.49%Anglo American (AAL) 1,438.00p +2.35%BHP Billiton (BLT) 1,920.00p +2.35%Amec (AMEC) 1,078.00p +2.08%Antofagasta (ANTO) 862.00p +1.89%FTSE 100 - FallersTullow Oil (TLW) 1,049.00p -5.92%easyJet (EZJ) 1,325.00p -4.47%Croda International (CRDA) 2,502.00p -2.61%InterContinental Hotels Group (IHG) 1,940.00p -1.42%Weir Group (WEIR) 2,139.00p -1.29%ITV (ITV) 156.40p -1.26%Whitbread (WTB) 3,141.00p -1.10%Tate & Lyle (TATE) 837.00p -1.06%Babcock International Group (BAB) 1,186.00p -1.00%Reckitt Benckiser Group (RB.) 4,652.00p -0.98%BC