FTSE 100 movers: Energy shares dip; miners rally as copper prices rise

(Sharecast News) - London's FTSE 100 was down 0.1% at 10,671.77 in afternoon trade on Tuesday. Ithaca Energy, BP and Shell all fell as oil prices eased back.

British Gas owner Centrica lost ground following news that Prime Minister Andy Burnham plans to create GB Grid - a state-backed body to invest in the grid.

"While the market reaction suggests this is not considered to be an existential threat just yet, there will be concern that this is the first step on the road to renationalisation of the electricity network and the country's wider energy infrastructure," said Russ Mould, investment director at AJ Bell.

On the upside, miners Antofagasta and Anglo American rose in tandem with copper prices.

Convatec was also in the black as Bank of America nudged up its price target on the 'buy' rated stock to 300p from 295p.

FTSE 100 - Risers

Weir (WEIR) 2,726.00p 3.64% Antofagasta (ANTO) 3,750.00p 2.85% InterContinental Hotels Group (IHG) 163.05p 2.84% Anglo American (AAL) 4,074.00p 2.72% Metlen Energy & Metals (MTLN) 49.43p 2.72% Convatec Group (CTEC) 217.20p 2.64% Halma (HLMA) 3,554.00p 2.54% Spirax Group (SPX) 7,315.00p 2.45% Diploma (DPLM) 7,895.00p 2.20% Smiths Group (SMIN) 2,879.00p 1.91%

FTSE 100 - Fallers

Ithaca Energy (ITH) 272.70p -4.52% BP (BP.) 547.50p -2.93% Shell (SHEL) 3,590.50p -1.79% The Sage Group (SGE) 965.60p -1.69% Admiral Group (ADM) 3,628.00p -1.25% British American Tobacco (BATS) 4,182.00p -0.97% Vodafone Group (VOD) 124.50p -0.88% Barratt Redrow (BTRW) 342.20p -0.84% Diageo (DGE) 1,606.50p -0.83% Centrica (CNA) 145.70p -0.82%