FTSE 100 movers: Miners rally on higher copper prices; GSK in the red

(Sharecast News) - London's FTSE 100 was up 1% at 8,355.83 in afternoon trade on Wednesday. Miners rallied as copper prices rose, with Antofagasta, Glencore and Anglo American all up.

Oil giant Shell also gushed higher as oil prices rose amid escalating tensions in the Middle East.

HSBC gained as it said it would start a $3bn share buyback after the Asia-focused bank reported estimate-busting interim profits in its final set of results under chief executive Noel Quinn. Pre-tax profits surged to $8.9bn from $8.8bn a year earlier and smashed analysts' forecasts of $7.8bn.

Quinn, who has been CEO for five years, will be succeeded by finance chief Georges Elhedery.

The bank announced that financial controller Jon Bingham would take on the chief financial officer role on an interim basis.

GSK fell despite raising annual forecasts after better-than-expected second-quarter results, driven by a strong performance from its cancer and HIV treatments.

FTSE 100 - Risers

Antofagasta (ANTO) 2,017.00p 4.43% Glencore (GLEN) 433.00p 3.94% Anglo American (AAL) 2,355.50p 3.45% Flutter Entertainment (DI) (FLTR) 15,460.00p 3.10% HSBC Holdings (HSBA) 697.70p 3.07% Spirax Group (SPX) 9,025.00p 2.91% Fresnillo (FRES) 590.50p 2.87% Shell (SHEL) 2,846.00p 2.87% Intermediate Capital Group (ICG) 2,182.00p 2.83% Ashtead Group (AHT) 5,572.00p 2.80%

FTSE 100 - Fallers

Smurfit Westrock (DI) (SWR) 3,413.00p -5.46% InterContinental Hotels Group (IHG) 7,844.00p -2.90% GSK (GSK) 1,508.00p -2.24% easyJet (EZJ) 452.20p -1.44% Marks & Spencer Group (MKS) 327.30p -1.21% Convatec Group (CTEC) 235.00p -0.93% Barclays (BARC) 231.95p -0.90% Vodafone Group (VOD) 72.56p -0.79% Sainsbury (J) (SBRY) 275.40p -0.79% British American Tobacco (BATS) 2,741.00p -0.69%