Less Ads, More Data, More Tools Register for FREE

FTSE 100 movers: Ashtead jumps on strong interims; Glencore, BP in the red

Wed, 02nd Sep 2015 13:16

(ShareCast News) - London's FTSE 100 was up 1% to 6,116 at 1423 BST in a choppy session as stocks rebounded from weakness on Tuesday.Industrial equipment rental firm Ashtead was the standout gainer after it posted better-than-expected first quarter pre-tax profits of £155m, up 23%, driven by solid revenue growth in the US and UK. Chief executive Geoff Drabble said the strong numbers reflected the company's diversification strategy, with its US Sunbelt arm delivering a 23% increase in revenue and its UK division also performing strongly.Hikma Pharmaceuticals was on the up after Barclays lifted its price target on the stock to 2,760p from 2,050p.The bank said Hikma has transformed its US exposure and long-term visibility through the $2.65bn acquisition of US specialty generics company Roxane. "The closure of the deal transforms Hikma's presence in the US, its long-term growth trajectory, and the reliance on shortage drug opportunities," said Barclays.Satellite telecoms group Inmarsat continued to gain following the successful launch into orbit of its I-5 F3 Global Xpress satellite.Chip maker ARM Holdings was also a higher riser after JPMorgan Cazenove upgraded the stock to 'neutral' from 'underweight' and kept its price target at 850p. "With ARM stock having corrected since the beginning of July, we believe the stock is discounting the impact of the smartphone correction even though consensus estimates likely remain too high."AstraZeneca also got a boost from a broker note, as HSBC lifted its stance on the pharmaceuticals giant to 'buy' from 'hold' on share price weakness and ahead of oncology news flow. It noted that the shares have fallen 8% since the beginning of August and 16% since the year's highs in April. It attributed the decline in the short term more to global market volatility than any fundamental issues with the stock.British Airways owner International Consolidated Airlines Group gained after announcing that its offer for Aer Lingus is closed and it now controls 98.05% of the Irish carrier. IAG said that Aer Lingus shareholders who accepted the offer will receive payment for their shares within 14 days. This includes Ryanair, which had a nearly 30% stake in the carrier and the Irish government, which owned 25.1%.On the downside, Glencore slid as metals prices declined across the board with the exception of tin, while BP dropped amid extreme volatility in oil markets.RisersAshtead Group (AHT) 961.50p +4.85%Hikma Pharmaceuticals (HIK) 2,312.00p +3.91%3i Group (III) 473.90p +3.20%Inmarsat (ISAT) 991.50p +2.59%BHP Billiton (BLT) 1,079.00p +2.18%ARM Holdings (ARM) 930.00p +1.81%International Consolidated Airlines Group SA (CDI) (IAG) 537.50p +1.80%Mondi (MNDI) 1,442.00p +1.76%Intu Properties (INTU) 320.00p +1.59%AstraZeneca (AZN) 4,094.50p +1.51% FallersGlencore (GLEN) 126.60p -5.17%BP (BP.) 344.00p -1.55%G4S (GFS) 248.40p -1.35%Standard Chartered (STAN) 715.20p -1.24%Sainsbury (J) (SBRY) 235.00p -1.22%Royal Dutch Shell 'B' (RDSB) 1,626.50p -1.18%Royal Dutch Shell 'A' (RDSA) 1,619.50p -1.13%Randgold Resources Ltd. (RRS) 3,891.00p -0.89%Pearson (PSON) 1,083.00p -0.82%British American Tobacco (BATS) 3,366.50p -0.72%

Related Shares

More News
30 May 2024 09:23

LONDON BROKER RATINGS: Jefferies and UBS cut Anglo American

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

30 May 2024 07:40

LONDON BRIEFING: Dr Martens cuts payout as profit plummets

(Alliance News) - Stocks in London are called to open lower on Thursday, with investors nervous ahead of Friday's US inflation print.

29 May 2024 08:54

IN BRIEF: AstraZeneca drug lowers cholesterol in phase 1 trial

AstraZeneca PLC - Cambridge, England-based pharmaceuticals - Reports positive results in a phase 1 trial of cholesterol drug candidate AZD0780, an ora...

28 May 2024 07:02

AstraZeneca experimental lung cancer drug shows promising results

(Sharecast News) - AstraZeneca's experimental lung cancer drug showed improved overall survival rates in phase III trials, the pharmaceutical giant sa...

27 May 2024 07:49

IN BRIEF: Astra, Daiichi hail positive survival data for Dato-DXd

AstraZeneca PLC - Cambridge, UK-based pharmaceutical firm - Alongside Japan's Daiichi Sankyo Co Ltd, notes positive data for datopotamab deruxtecan in...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.