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FTSE 100 movers: Croda jumps on upgrade from Credit Suisse

Mon, 23rd Sep 2013 14:22

Chemicals firm Croda was in the top spot after Credit Suisse upgraded its recommendation from 'neutral' to 'outperform' and hiked its target price from 2,600p to 3,000p.Telecoms giant Vodafone also gained after UBS raised its target price for the shares from 230p to 245p after including Kabel Deutschland in its forecasts whilst removing Verizon Wireless. The bank retained its 'buy' rating, saying that Vodafone's valuation is "attractive".Investment group Aberdeen gained after saying that underlying profits should still come in at the higher end of analysts' forecasts despite a slight drop in assets under management (AuM) in the fourth quarter. AuM declined from £209.6bn to £201.7bn during the two months to August 31st due to "considerable" volatility across financial markets, it said. Meanwhile, banking stocks were providing a drag with Royal Bank of Scotland, Lloyds and Barclays registering losses as risk appetite was scaled back.FTSE newcomer Coca-Cola bottling group Coca-Cola HBC was among the worst performers this morning, extending its losing streak into the third straight day. Matt Basi, Head of Sales Trading at CMC Markets, said that traders are "taking profits from the highs of last week - the best levels since the stock moved to the London market in April".British Gas owner Centrica declined after announcing the decision not proceed with its Baird and Caythorpe gas storage projects due to "weak economics for storage projects and the announcement by the UK government on September 4th ruling out intervention in the market to encourage additional gas storage capacity to be built". Utility peers National Grid and United Utilities were also lower.FTSE 100 - RisersCroda International (CRDA) 2,729.00p +1.83%Burberry Group (BRBY) 1,631.00p +0.74%Vodafone Group (VOD) 210.00p +0.72%ARM Holdings (ARM) 1,008.00p +0.70%IMI (IMI) 1,464.00p +0.69%Aberdeen Asset Management (ADN) 389.40p +0.54%Old Mutual (OML) 192.80p +0.47%Weir Group (WEIR) 2,406.00p +0.46%Vedanta Resources (VED) 1,121.00p +0.45%British Sky Broadcasting Group (BSY) 872.00p +0.35%FTSE 100 - FallersBarclays (BARC) 265.05p -3.07%Randgold Resources Ltd. (RRS) 4,571.00p -2.25%Coca-Cola HBC AG (CDI) (CCH) 1,829.00p -2.19%Tullow Oil (TLW) 1,054.00p -1.95%Shire Plc (SHP) 2,544.00p -1.89%Anglo American (AAL) 1,563.50p -1.73%Lloyds Banking Group (LLOY) 74.94p -1.72%William Hill (WMH) 415.30p -1.63%Centrica (CNA) 396.00p -1.54%Sports Direct International (SPD) 691.00p -1.50%NR

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