FTSE 100 movers: Oil stocks gain as housing stocks dive

13th Jun 2014 15:39

Oil and gas stocks were among the handful of names making gains today as share prices tracked oil prices higher, with Shell, BG Group and BP on the rise. Oil prices have surged to a nine-month high amid growing fears about the situation in Iraq, a major oil producer.United Utilities was one of the strongest risers after Deutsche Bank increased its target price from 900p to 980p and reiterated its 'buy' recommendation.Housebuilders Persimmon, Barratt Developments, Taylor Wimpey, Bovis Homes and Berkeley were all trading with heavy losses as investors reacted to the prospect of higher interest rates and a potential cooling of the UK housing market.Property firms such as Land Securities and British Land were also out of favour.AstraZeneca was also falling, despite welcoming a vote by a committee of the US Food and Drug Administration (FDA) against the necessity of a trial looking specifically into cardiovascular outcomes of its Movantik drug, which has been developed to treat constipation associated with opioid pain medications. FTSE 100 - RisersFresnillo (FRES) 805.50p +0.94%SSE (SSE) 1,571.00p +0.77%United Utilities Group (UU.) 893.00p +0.73%Petrofac Ltd. (PFC) 1,256.00p +0.64%Admiral Group (ADM) 1,544.00p +0.59%BP (BP.) 511.20p +0.57%G4S (GFS) 255.80p +0.35%Meggitt (MGGT) 526.50p +0.29%Royal Bank of Scotland Group (RBS) 341.30p +0.29%Royal Dutch Shell 'B' (RDSB) 2,489.50p +0.24%FTSE 100 - FallersPersimmon (PSN) 1,211.00p -6.99%Barratt Developments (BDEV) 346.50p -6.25%Sports Direct International (SPD) 779.00p -4.77%British Land Co (BLND) 687.00p -4.18%Land Securities Group (LAND) 1,033.00p -3.91%Kingfisher (KGF) 369.80p -3.75%International Consolidated Airlines Group SA (CDI) (IAG) 378.20p -3.32%easyJet (EZJ) 1,452.00p -3.26%Ashtead Group (AHT) 891.00p -2.94%Carnival (CCL) 2,344.00p -2.90%NR