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FTSE 100 movers: Aberdeen, Resolution lead financials higher

Fri, 12th Jul 2013 14:08

Financial stocks were performing well on Friday with asset manager Aberdeen and insurance group Resolution leading the way after positive comments from analysts.UBS reiterated its 'buy' rating for Aberdeen and added the stock to its 'most preferred' list, saying that the recent share price falls have been overdone.Meanwhile, Nomura raised its recommendation for Resolution from 'reduce' to 'neutral', highlighting the company's attractive dividend yield. Nevertheless, Prudential was rated 'buy' and labelled as the broker's top pick in the UK life insurance sector.Banking peers Standard Chartered, RBS and Lloyds were also higher, though Barclays was bucking the trend after Numis downgraded the stock to 'reduce'.Mining stocks were trading in the red today pulling back after an impressive rise yesterday as metals prices jumped. Chinese slowdown worries were hitting the sector today after the country' Finance Minister warned that growth would be 7.0% this year, worse than official government targets. Fresnillo, Anglo American and Antofagasta registering moderate losses.Credit checking group Experian was lower despite reiterating full-year revenue guidance in a first-quarter statement, as the firm warned that protests in Brazil were affecting consumer-facing sectors.G4S and Serco were extending losses made yesterday after it was reported that both companies were being investigated by the Serious Fraud Office on suspicion of overcharging on government contracts.FTSE 100 - RisersResolution Ltd. (RSL) 319.80p +3.83%Aberdeen Asset Management (ADN) 417.50p +2.48%Sainsbury (J) (SBRY) 383.70p +2.24%Royal Bank of Scotland Group (RBS) 310.60p +2.17%WPP (WPP) 1,200.00p +2.04%GKN (GKN) 333.00p +1.93%Standard Life (SL.) 386.10p +1.87%Admiral Group (ADM) 1,369.00p +1.63%ITV (ITV) 156.40p +1.56%ARM Holdings (ARM) 881.50p +1.44%FTSE 100 - FallersReckitt Benckiser Group (RB.) 4,698.00p -4.69%Fresnillo (FRES) 984.00p -3.34%Anglo American (AAL) 1,302.00p -2.62%Tate & Lyle (TATE) 861.00p -2.49%Antofagasta (ANTO) 833.50p -2.34%Legal & General Group (LGEN) 185.40p -1.96%Tullow Oil (TLW) 1,103.00p -1.96%Serco Group (SRP) 616.00p -1.68%Experian (EXPN) 1,180.00p -1.58%G4S (GFS) 209.70p -1.55%BC

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