FTSE 100 movers: BAE Systems rises on share buyback

UK defence giant BAE Systems may have posted a fall in sales and earnings in 2012, but shares gained strongly after the company initiated a share buy-back worth 1.0bn pounds over the next three years. British supermarket Sainsbury has said no horsemeat was found in its beef products following 250 tests in line with the Food Standards Agency (FSA), prompting shares to rise. Aviva was also higher after Exane BNP moved its target price from 369p to 414p and upgraded the stock to outperform. Meanwhile, miners were once again under the weather today as metals prices weakened in the face of a stronger dollar after the FOMC minutes. Gold prices were trading at a seven-month low today. Kazakhmys, ENRC and BHP Billiton were among the worst performers, with the latter hit by a downgrade from Citi to 'neutral'. Home improvement retail company Kingfisher was down after it reported a decline in like-for like fourth quarter sales as the group battled against weak consumer confidence, unfavourable foreign exchange and poor weather in the UK. FTSE 100 - RisersBAE Systems (BA.) 346.90p +4.42%Rexam (REX) 507.00p +1.00%Sainsbury (J) (SBRY) 337.20p +0.63%Pearson (PSON) 1,209.00p +0.33%Aviva (AV.) 355.00p +0.28%FTSE 100 - FallersEvraz (EVR) 267.00p -4.88%Vedanta Resources (VED) 1,202.00p -4.38%CRH (CRH) 1,346.00p -4.13%BHP Billiton (BLT) 2,101.00p -3.78%Barclays (BARC) 307.85p -3.78%ARM Holdings (ARM) 916.00p -3.73%Xstrata (XTA) 1,107.50p -3.57%Kazakhmys (KAZ) 674.00p -3.44%Aberdeen Asset Management (ADN) 426.90p -3.39%Glencore International (GLEN) 369.55p -3.35%NR Aviva BAE Systems Sainsbury's