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FTSE 100 movers: BAE Systems rallies; banks under the cosh
(Sharecast News) - London's FTSE 100 was up 0.5% at 7,231.00 in afternoon trade on Wednesday. Defence firm BAE Systems was the standout gainer on the index after Russian President Vladimir Putin announced the partial mobilisation of forces in Russia.
Housebuilders also rallied, with Persimmon, Taylor Wimpey and Barratt up following a report that this Friday's mini-Budget could include a stamp duty cut.
Aveva advanced after the software firm agreed to be bought by France's Schneider Electric in a £9.5bn deal.
Banks were under the cosh following a report that UK Prime Minister Liz Truss's new government has looked at changing the Bank of England's money-printing programme to save the UK taxpayer billions of pounds.
According to Bloomberg, under the option, interest paid on some deposits held by commercial lenders at the BOE would be scrapped, potentially saving more than £10bn a year, based on calculations with the benchmark interest rate at 2.5%.
NatWest, Barclays and Lloyds all fell.
British Airways and Iberia parent IAG and InterContinental Hotels lost ground amid worries about the potential escalation of the Ukraine war.
FTSE 100 - Risers
BAE Systems (BA.) 805.40p 4.35% Persimmon (PSN) 1,386.00p 3.66% Hargreaves Lansdown (HL.) 872.60p 3.44% Harbour Energy (HBR) 485.30p 3.06% Halma (HLMA) 2,091.00p 2.75% Taylor Wimpey (TW.) 105.85p 2.72% Schroders (SDR) 439.20p 2.63% Land Securities Group (LAND) 606.00p 2.61% Barratt Developments (BDEV) 415.30p 2.59% Aveva Group (AVV) 3,117.00p 2.26%
FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 104.78p -3.29% NATWEST GROUP (NWG) 262.60p -2.49% Melrose Industries (MRO) 103.30p -2.18% Ocado Group (OCDO) 593.40p -2.14% Barclays (BARC) 167.36p -2.08% Flutter Entertainment (CDI) (FLTR) 10,115.00p -1.89% InterContinental Hotels Group (IHG) 4,563.00p -1.77% Lloyds Banking Group (LLOY) 48.14p -1.76% Rolls-Royce Holdings (RR.) 74.57p -1.65% BT Group (BT.A) 134.80p -1.57%
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