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FTSE 100 movers: CRH lower on Holcim rejection, miners and energy stocks higher

Tue, 17th Mar 2015 12:39

Building materials group CRH was extending losses after Holcim on Monday rejected the terms of its proposed tie-up with Lafarge. CRH is set to snap up €6.5bn of assets from the two European cements companies when they merge.Tesco shares were in the red, reversing from Monday, alongside Morrison, as Sainsbury's warned it expects another year of challenging trading conditions following a weak trading update, in which sales fell for a fifth consecutive quarter. Sainsbury's was also lower despite beating analysts' forecasts with a less-than-expected decline in like-for-like sales.Mining stocks were mostly higher as speculation about further stimulus measures in China continued, lifting the likes of Glencore and Rio Tinto.Heavyweight miner BHP Billiton also rose after shareholders welcomed the company's recommendation to approve its proposed demerger as it spins off its non-core activities into a new company called South32. The group said one-off costs associated with the transaction would be $738m, though it promised not to cut its dividend post-demerger.Energy stocks such as Tullow Oil, BG Group and Shell were putting in decent gains amid speculation that North Sea oil and gas producers are set to benefit from UK tax cuts in Wednesday's Budget statement. RisersTullow Oil (TLW) 296.60p +5.48%Centrica (CNA) 248.70p +3.93%BHP Billiton (BLT) 1,460.50p +3.14%BG Group (BG.) 842.60p +2.51%Glencore (GLEN) 282.90p +2.17%easyJet (EZJ) 1,771.00p +2.13%SSE (SSE) 1,500.00p +2.11%Rio Tinto (RIO) 2,901.50p +1.88%Severn Trent (SVT) 1,998.00p +1.83%Royal Dutch Shell 'A' (RDSA) 1,970.50p +1.81%FallersTesco (TSCO) 234.40p -2.88% (CRH) 1,683.00p -2.77%Schroders (SDR) 3,181.00p -2.66%Mondi (MNDI) 1,330.00p -2.21%Morrison (Wm) Supermarkets (MRW) 201.70p -1.99%Wolseley (WOS) 4,088.00p -1.61%St James's Place (STJ) 929.00p -1.38%Shire Plc (SHP) 5,455.00p -1.36%London Stock Exchange Group (LSE) 2,506.00p -1.34%Imperial Tobacco Group (IMT) 3,128.00p -1.29%
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