FTSE 100 movers: Miners rally as copper prices rise; Entain slumps

(Sharecast News) - London's FTSE 100 was 0.4% higher at 10,526.99 in afternoon trade on Tuesday. Heavily-weighted miners Antofagasta, Anglo American and Glencore all rose on the back of higher copper prices and better-than-expected China manufacturing and non-manufacturing PMIs.

Babcock and Rolls-Royce also gained as the British government announced plans to ramp up investment in drones and strengthen the country's nuclear deterrent as part of a £15bn hike in defence spending. In total, defence spending will rise from £54bn a year under the previous government to nearly £80bn by 2029.

On the downside, Ladbrokes owner Entain slumped following reports that all-night slot machine shops and casinos could face a £460m tax rise if Andy Burnham acts on his concerns about the gambling industry as prime minister.

Persimmon was also in the red following reports that seven of the biggest UK housebuilders are facing a £4.5bn lawsuit over claims they overcharged buyers.

FTSE 100 - Risers

Lion Finance Group (BGEO) 11,430.00p 3.15% St James's Place (STJ) 1,214.00p 3.05% Antofagasta (ANTO) 3,861.00p 3.04% Anglo American (AAL) 3,733.00p 3.01% Melrose Industries (MRO) 473.40p 2.97% Babcock International Group (BAB) 939.80p 2.78% Rolls-Royce Holdings (RR.) 1,447.80p 2.73% Scottish Mortgage Inv Trust (SMT) 1,460.00p 2.63% Glencore (GLEN) 524.00p 2.58% Lloyds Banking Group (LLOY) 111.35p 2.57%

FTSE 100 - Fallers

Metlen Energy & Metals (MTLN) 40.96p -2.94% Entain (ENT) 578.40p -2.30% Burberry Group (BRBY) 1,062.50p -2.25% BT Group (BT.A) 191.95p -1.99% Diageo (DGE) 1,540.00p -1.66% Vodafone Group (VOD) 101.55p -1.64% Smith & Nephew (SN.) 1,127.50p -1.53% Persimmon (PSN) 1,066.00p -1.39% JD Sports Fashion (JD.) 84.10p -1.29% Centrica (CNA) 171.50p -0.92%