EVRAZ was making gains even though it said that steel production fell six per cent from the third quarter to the fourth, as a result of scheduled maintenance at its ZSMK steel mill in the Siberia region.
The stock was being given a lift this morning by comments from Credit Suisse about the steel sector. The broker said: "The cycle is now recovering. Confidence appears to be returning as the recovery in the financial equities suggested to us could be the case. Anecdotes we hear suggest that the demand outlook (non-res in the US, general demand in EU) could be better than the market believes."
Meanwhile, the wider mining sector was in demand after better-than-expected data from China boosted the outlook for demand.
China's economic growth seems to have accelerated for the first time in two years towards the end of 2012 thanks in part to the stimulus measures implemented by the government.
Aberdeen Asset Management was given a boost after UBS upped its target price from 370p to 440p, maintaining a buy rating. JP Morgan shifts target price from 479p to 498p and kept an overweight rating, while Numis raised its target price from 400p to 430p and its add rating remained unchanged.
Energy services giant Wood Group continued to rise one day after announcing that it has won a contract with Nexen Petroleum UK at the Golden Eagle Area Development (GEAD) project in the North Sea.
Meanwhile, home improvement retail company Kingfisher was lower after saying that its Chief Operating Officer, Euan Sutherland, who will be resigning from the company in March 2013, will step down from the board at the end of January, and remain an employee of Kingfisher until the end of March to allow for an extensive handover of his responsibilities. UBS shifted its target price on the stock from 290p to 280p, keeping a neutral rating.
Morrison, the supermarket chain, fell after Deutsche Bank reduced its target price on the stock from 258p to 235p and left its hold recommendation unchanged.
FTSE 100 - Risers
Evraz (EVR) 302.40p +3.77%
Johnson Matthey (JMAT) 2,320.00p +2.79%
Aberdeen Asset Management (ADN) 394.70p +2.52%
Wood Group (John) (WG.) 824.50p +2.49%
Rio Tinto (RIO) 3,516.50p +2.24%
Associated British Foods (ABF) 1,638.00p +1.99%
Carnival (CCL) 2,575.00p +1.98%
Reed Elsevier (REL) 690.50p +1.77%
IMI (IMI) 1,149.00p +1.68%
Sage Group (SGE) 317.80p +1.57%
FTSE 100 - Fallers
Kingfisher (KGF) 278.00p -2.49%
Wolseley (WOS) 2,944.00p -1.67%
International Consolidated Airlines Group SA (CDI) (IAG) 208.60p -1.51%
Resolution Ltd. (RSL) 263.90p -1.35%
Weir Group (WEIR) 1,912.00p -1.34%
Eurasian Natural Resources Corp. (ENRC) 338.80p -1.31%
Admiral Group (ADM) 1,155.00p -1.20%
Fresnillo (FRES) 1,762.00p -1.07%
Morrison (Wm) Supermarkets (MRW) 253.00p -1.02%
Sainsbury (J) (SBRY) 325.20p -0.85%