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Kazakh Miners, Barclays Fuel FTSE in Lacklustre Session

MONDAY MARKET UPDATE: A lacklustre start to the week ahead of economic and earnings releases to come

Holly Cook 11 February, 2013 | 6:36PM

A quiet start to the week as markets lack impetus from Asia amidst the Chinese New Year holiday and investors pause for breath ahead of economic and earnings announcements on Tuesday.

The FTSE 100 index closed up 13 points or 0.2% at 6,277, while the FTSE 250 was virtually unmoved, settling 2 points lower at 13,374.

Just 18 of the top-tier index's 100 constituents moved more than 1% in either direction, illustrating the lack of momentum across the market as a whole. 

Among the top performers were Eurasian Natural Resources (ENRC), in pole position with a 4.8% jump, and fellow Kazakh-miner Kazakhmys (KAZ), 1.0% firmer. 

The casulaties of the day were led lower by Randgold Resources (RRS), which slipped 2.6%, while consumer cyclical stocks Whitbread (WTB), Burberry (BRBY) and InterContinental Hotels (IHG) all lost between 1.2% and 1.8%.

In news, Barclays (BARC) shares ticked up a 1.0% ahead of the bank's full-year earnings announcement on Tuesday. While industry commentators continue to discuss the latest LIBOR fixing fine dished out to Royal Bank of Scotland (RBS), Barclays is expected to announce cost-cutting proposals when it unveils its latest set of numbers tomorrow.

In other news, British Land (BLND) edged 0.5% higher after extending its UK property portfolio with the purchase of several west London retail and office properties from Dutch firm Wereldhave (WHA) for £142.5 million.

To see the top winners and losers on the FTSE 100 each day, check out Morningstar's Heat Map.

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Securities Mentioned in Article
Security NamePriceChange (%)Morningstar
Rating
Barclays PLC248.90 GBX0.67
British Land Co PLC687.50 GBX0.44-
Burberry Group PLC1,429.00 GBX-1.04
InterContinental Hotels Group PLC1,949.00 GBX-0.10
Kazakhmys PLC238.80 GBX-1.69-
Randgold Resources Ltd4,700.00 GBX2.06-
Royal Bank of Scotland Group (The) PLC301.10 GBX-0.36
Wereldhave NV63.24 EUR-0.03-
Whitbread PLC4,072.00 GBX-0.27-
About Author Holly Cook

Holly Cook  is Managing Editor of Morningstar.co.uk