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FTSE 100 movers: Aberdeen slides after target price cut

Thu, 27th Mar 2014 15:05

Aberdeen Asset Management declined on the back of Credit Suisse's decision to cut its target price on the stock from 470p to 415p, reiterating its 'neutral' rating. WPP climbed after announcing its fourth acquisition of the week. Today saw the group reveal that its wholly-owned operating company, JWT, is set to acquire a majority stake in Social Wavelength, an Indian social media agency.Meanwhile, engineering group Babcock was a heavy faller after agreeing to buy helicopter services provider Avincis for £920m. The company, which will also assume Avincis' net debt of £705m through a new debt facility of its own, will fund the purchase with a £1.1bn rights issue, though some analysts raised concerns with the price of the deal.Oil explorer Tullow also fell after a drilling update on its blocks onshore Kenya as it revealed that exploration wells Emong-1 and Etuko-2 were unsuccessful. Miners were also out of favour as stocks tracked metal prices lower. Jefferies also dampened sentiment after cutting commodity forecasts and target prices across the sector. Glencore Xstrata, Fresnillo and Randgold Resources were among the worst performers.Utility groups SSE and Centrica were subdued after UK energy regulator Ofgem referred the 'big six' energy companies for a full-scale competition investigation that could see them broken up.FTSE 100 - RisersSABMiller (SAB) 2,989.50p +1.75%Aberdeen Asset Management (ADN) 393.40p +1.57%British Sky Broadcasting Group (BSY) 929.00p +1.42%Diageo (DGE) 1,853.50p +0.90%Royal Mail (RMG) 562.50p +0.81%WPP (WPP) 1,211.00p +0.75%BT Group (BT.A) 381.10p +0.74%Associated British Foods (ABF) 2,855.00p +0.71%Morrison (Wm) Supermarkets (MRW) 212.70p +0.66%Whitbread (WTB) 4,246.00p +0.64%FTSE 100 - FallersBabcock International Group (BAB) 1,263.00p -7.54%Fresnillo (FRES) 836.50p -4.13%Standard Life (SL.) 385.80p -3.55%Mondi (MNDI) 1,041.00p -3.34%Tullow Oil (TLW) 757.00p -2.57%Randgold Resources Ltd. (RRS) 4,492.00p -2.52%International Consolidated Airlines Group SA (CDI) (IAG) 412.70p -2.34%Next (NXT) 6,790.00p -2.23%SSE (SSE) 1,485.00p -2.17%G4S (GFS) 232.50p -1.90%NR

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