FTSE 100 CLOSE: Financials rise to top as L&G dominates

Legal & General (L&G) was the biggest riser at the close of trading, boosted by a dividend hike and the release of its full-year results.

The insurer powered to the top of the FTSE 100 risers list as its share price increased by 7.2% to 134.3p.

The financials sector was the best performing with a number of insurance and banking constituents at the top of the climbers’ list.

L&G was joined by life insurance consolidator Resolution, up 5.2% to 283.2p, while Barclays increased 3.9% to 248.8p, following news of the Federal Reserve’s stress testing.

Insurer peers Aviva and Standard Life both rose, increasing by 3.7% to 374.4p and 3.1% to 246p, respectively. (article continues below)

However, as strong as the financials sector was at the close of trading, the natural resources sector was the worst performing, with defensive stocks dropping.

Copper miner Kazakhmys was the biggest faller dropping 4.3% to 943.5p, while gold miner Randgold Resources slipped 3.7% to 6,850p.

Vedanta Resouces dropped 2.7% to 1,391p, Vodafone – the only non-resources company – was down 2.4% to 166.65p, while BHP Billiton slipped 2.3% to 2,000.5p.