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FTSE 100 Movers: Burberry grows internationally

Tue, 18th Jan 2011 13:15

Burberry is leading the market higher after strong third quarter figures. Revenue grew by 30% in the third quarter and full year profit is expected to be at the top end of market expectations. The growth is coming from around the world. Oil services provider Petrofac has won a $1.2bn oil field development project in Algeria.GlaxoSmithKline has fallen further after yesterday's announcement of a £2.2bn legal charge in the fourth quarter of 2010. The majority of the cost relates to product liability cases relating to Avandia (rosiglitazone). The post-tax charge will be £1.8bn. African Barrick Gold increased production in the fourth quarter and got a higher price for its gold. Fourth quarter gold production of 178,730 ounces was up 9% on the third quarter. The group received an average price of $1,394 an ounce for the gold it sold in the quarter, up from $1,093 an ounce a year earlier.Credit checking firm Experian increased third quarter revenues both on an actual basis and at constant exchange rates by 12%. However, the UK performance lagged the rest of the world. Organic growth is expected to continue at around 7% and operating margins should show a "modest" improvement.FTSE 100 - Risers Burberry Group (BRBY) 1,103.00p +4.15%WPP (WPP) 803.00p +3.21%Kazakhmys (KAZ) 1,662.00p +2.85%BG Group (BG.) 1,350.50p +2.82%Severn Trent (SVT) 1,455.00p +2.75%Petrofac Ltd. (PFC) 1,662.00p +2.72%BAE Systems (BA.) 358.50p +2.60%IMI (IMI) 967.50p +2.54%British Airways (BAY) 304.50p +2.53%Kingfisher (KGF) 270.70p +2.50%FTSE 100 - Fallers Essar Energy (ESSR) 532.00p -4.57%GlaxoSmithKline (GSK) 1,178.00p -2.24%African Barrick Gold (ABG) 557.00p -1.24%Experian (EXPN) 767.50p -1.03%Autonomy Corporation (AU.) 1,450.00p -1.02%Prudential (PRU) 683.50p -0.94%Rexam (REX) 347.10p -0.69%Weir Group (WEIR) 1,688.00p -0.12%Intertek Group (ITRK) 1,841.00p -0.11%Investec (INVP) 522.00p -0.10%

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