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FTSE 100 movers: South Africa rate rise sends Old Mutual surging

Fri, 29th Jan 2016 14:50

(ShareCast News) - The FTSE 100 was back over the 6,000 mark on Friday, rising 105.69 points (1.78%) to 6,037.47 by mid-afternoon.Old Mutual topped the list after South Africa's central bank raised interest rates for the second time in two months yesterday. The bank also cut its growth forecast as it tries to offset inflation pressures by tightening policy.It came just over a month after President Jacob Zuma replaced his finance minister twice - first with a relatively unknown and inexperienced person and second with previous finance minister Pravin Gordhan. Shares in Imperial Tobacco Group were also up after analysts at Citi added the stock to its Europe Focus list. In a separate note, they pointed out that "FX works in different ways for IMT and BAT. For IMT we lift EPS by 4% for translation gains."BT Group also featured on the risers list after it said it has completed its £12.5bn acquisition of mobile network operator EE.However, the deal still faces a challenge in the form of industry regulator Ofcom, which is currently investigating whether BT should be made to spin off its Openreach arm on competition grounds. The Competition and Markets Authority gave the deal the green light earlier this month, saying it was unlikely to hurt competition. John Wotton, who chaired the CMA inquiry into the deal, said: "Since our provisional findings, we have taken extra time to consider responses in detail but the evidence does not show that this merger is likely to cause significant harm to competition or the interests of consumers. The retail mobile services market in the UK is competitive, with four main mobile providers and a substantial number of smaller operators. As BT is a smaller operator in mobile, it is unlikely that the merger will have a significant effect. Similarly, EE is only a minor player in retail broadband, so again it is unlikely the merger will have a significant effect in this market."The blue chip market's main fallers came from the energy sector as Shell and BG Group retreated, giving back gains from yesterday after oil prices stopped rising.They had both seen gains throughout the week as both companies' shareholders approved the merger deal, which is expected to be completed on 15 February, subject to the satisfaction or waiver of certain customary conditions. FTSE 100 - RisersOld Mutual (OML) 167.20p 3.59% Imperial Tobacco Group (IMT) 3,756.50p 2.81% Sports Direct International (SPD) 415.00p 2.60% Hargreaves Lansdown (HL.) 1,340.00p 2.52% Bunzl (BNZL) 1,848.00p 2.50% Barclays (BARC) 182.75p 2.44% Admiral Group (ADM) 1,767.00p 2.43% Intu Properties (INTU) 295.30p 2.43% BT Group (BT.A) 477.45p 2.41% St James's Place (STJ) 937.00p 2.40%FTSE 100 - FallersAntofagasta (ANTO) 366.40p -4.58% Glencore (GLEN) 86.89p -3.94% BHP Billiton (BLT) 656.20p -3.44% Anglo American (AAL) 267.15p -3.17% Rio Tinto (RIO) 1,662.50p -2.21% Fresnillo (FRES) 697.00p -1.69% Royal Dutch Shell 'A' (RDSA) 1,483.50p -0.77% Royal Dutch Shell 'B' (RDSB) 1,484.50p -0.77% BG Group (BG.) 1,040.00p -0.38% TUI AG Reg Shs (DI) (TUI) 1,170.00p -0.26%
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5 Feb 2016 15:07

Friday broker round-up

(ShareCast News) - Enterprise Inns: Barclays downgrades to underweight with a target of 80p. Thomas Cook: HSBC reiterates hold with a target price of 100p and JP Morgan keeps at overweight with a 170p target. Victrex: Deutsche Bank keeps at hold, 2000p target, UBS maintains neutral with a target

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5 Feb 2016 14:28

Imperial Tobacco changes its name to Imperial Brands

(ShareCast News) - Imperial Tobacco has changed its name to Imperial Brands with immediate effect, following approval from shareholders at the annual general meeting earlier this week. The group's ticker on the London Stock Exchange will change to IMB with effect from Monday and its new web address,

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4 Feb 2016 16:30

Earnings, Trading Statements Calendar - Week Ahead

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4 Feb 2016 10:28

WINNERS & LOSERS SUMMARY: Shell Gains As Earnings Meet Expectations

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3 Feb 2016 09:38

BROKER RATINGS SUMMARY: SocGen Cuts Sainsbury To Hold After Argos Deal

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2 Feb 2016 09:36

BROKER RATINGS SUMMARY: Citigroup And Liberum Upgrade Shell To Buy

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2 Feb 2016 08:23

LONDON BRIEFING: BP Disappoints As Weak Oil Prices Take Their Toll

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29 Jan 2016 16:11

London close: Equities close higher as oil prices rise, BoJ loosens policy

(ShareCast News) - The UK equity market closed higher on Friday as oil prices rose and the Bank of Japan's latest policy decision was well received. Oil prices gained on hopes of a deal by major exporters to cut production to address the global supply glut. At 1640 GMT, Brent crude rose 1.4% to $34.

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28 Jan 2016 18:01

After unusual weather, Cuba struggles to save prized tobacco crop

By Marc Frank SAN JUAN Y MARTINEZ, Cuba, Jan 28 (Reuters) - Highly unusual weather has damaged Cuba's tobacco crop, raising concerns among farmers and cigar-lovers that the island's supply of its famous cigars might suffer at a time of increased demand resulting from detente with the United

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28 Jan 2016 16:04

Dividends Calendar - Week Ahead

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28 Jan 2016 09:37

BROKER RATINGS SUMMARY: UBS Says Buy BAT And Imperial Tobacco

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27 Jan 2016 16:01

AGM, EGM Calendar - Week Ahead

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21 Jan 2016 16:25

Credit Suisse adds Travis Perkins, Whitbread, Imperial Tobacco and Halma to top picks

(ShareCast News) - Analysts at Credit Suisse reshuffled their deck of top outperformers and underperformers on Thursday. In its report, the broker summarised analysts' most and least favoured stocks in each sector, which were usually limited to 20% of each one's coverage universe. The Swiss broker

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18 Jan 2016 10:17

WINNERS & LOSERS SUMMARY: Empyrean Energy Jumps On Sugarloaf Deal

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