FTSE 100 movers: Engineers hammered, IAG takes off

(ShareCast News) - The FTSE 100 lost some ground as nerves and indecision showed ahead of the US Federal Reserve's mighty rate decision.London's benchmark index was 0.6% lower at 6,191.95 by 1450 BST on Thursday, with a phalanx of engineers and oil services groups leading the way down.Engineers Smiths Group and Weir fell to the bottom of the pile on negative read-through from Rotork, which issued a profit warning due to order delivery delays. Analysts and investors foresaw the same issue hitting the wider sector, despite a recent pick-up in oil prices.Weir was also suffering on the back of a demotion from the FTSE 100 on Friday.Babcock was another engineer whose shares were bent out of shape, but this time due to a downgrade by Exane BNP Paribas. "Recent anecdotes suggest that Babcock is seeking to compensate for a relative dearth of activity in core markets through expansion in higher- risk work. Though unlikely to become evident in the short-term, this does not bode well for the future," the French broker said.Chilean copper mining giant Antofagasta was down despite copper prices being up 0.3%. The powerful earthquake that struck near the country's coast on Wednesday evening saw investors take a cautious approach to companies with exposure there.Utility company SSE was hit by a broker downgrade, as Credit Suisse took a more dim view of the energy company's prospects and trimmed its earnings estimates.There were no significant risers among the blue chips, with IAG the standout gainer on the likelihood that it will be the next to raise full-year guidance following in the contrails of smaller rivals Ryanair and Easyjet that have been boosted by record tourist numbers in Europe. The British Airways owner has been cruising at altitude since Monday when the share maintained a confirmed technical breakout above four-month highs, approaching April's all-time peak.Rumbling City speculation about a bid from Pfizer also gave shares in Reckitt Benckiser a shot in the arm.FTSE 100 - RisersInternational Consolidated Airlines Group SA (CDI) (IAG) 606.50p +1.42%Associated British Foods (ABF) 3,178.00p +1.27%London Stock Exchange Group (LSE) 2,454.00p +1.20%Reckitt Benckiser Group (RB.) 5,910.00p +0.94%Dixons Carphone (DC.) 429.70p +0.80%Compass Group (CPG) 1,026.00p +0.79%Land Securities Group (LAND) 1,227.00p +0.57%GKN (GKN) 283.30p +0.57%TUI AG Reg Shs (DI) (TUI) 1,238.00p +0.57%Direct Line Insurance Group (DLG) 366.00p +0.52%FTSE 100 - FallersSmiths Group (SMIN) 1,083.00p -4.07%Weir Group (WEIR) 1,272.00p -3.49%Babcock International Group (BAB) 929.50p -2.47%Antofagasta (ANTO) 590.00p -2.40%Fresnillo (FRES) 592.50p -2.31%Sainsbury (J) (SBRY) 226.10p -2.21%Hargreaves Lansdown (HL.) 1,208.00p -2.11%SSE (SSE) 1,424.00p -2.00%Burberry Group (BRBY) 1,387.00p -1.98%Glencore (GLEN) 132.10p -1.93%