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FTSE 100 movers: Financials mixed as investor lock in profits

Fri, 22nd Jul 2011 14:18

The financial sector was mixed on Friday, despite rising strongly early on following yesterday's Eurozone deal to bailout Greece. Shares soared on Thursday after the region's leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. While RBS bucked the trend amongst financials - with the part-nationalised bank gaining 2.36% to trade at 36.90p - other financial shares lost some of their earlier buoyancy as investors looked to lock in some profits following yesterday's gains. Lloyds and insurance peers Prudential, Old Mutual and Legal & General were prominent among the fallers.Aviva, however, rose higher after takeover rumours regarding the insurance firm resurfaced, citing two European peers (Allianz and Zurich Financial) to be potential suitors. Engineering peers IMI and Weir were among the top performers, gaining 3.48% and 1.93%, respectively.Silver mining giant Fresnillo, too, was a high riser tracking silver prices upwards. Silver futures were 2.52% up at $39.93 at 14:12 on Friday afternoon in London (09:31 in New York).Drugs giants AstraZeneca and GlaxoSmithKline fell into the red after UBS cut its rating on the European pharmaceutical sector from 'small overweight' to 'neutral', saying the defensive sector that benefited from the economic soft patch and the sovereign debt crisis will be hit by the turnaround in these lead indicators. Vodafone was firmer after reporting that revenue from its core business grew by 1.5% in the second quarter of 2011.Outsourcing giant Capita was in demand after the acquisition of the pensions administration and software business of NorthgateArinso for £27.5m.BCFTSE 100 - RisersIMI (IMI) 1,099.00p +3.48%Fresnillo (FRES) 1,687.00p +2.62%Royal Bank of Scotland Group (RBS) 36.90p +2.36%Capita Group (CPI) 700.00p +2.04%Weir Group (WEIR) 2,163.00p +1.93%Marks & Spencer Group (MKS) 360.50p +1.92%Vodafone Group (VOD) 164.25p +1.83%Vedanta Resources (VED) 1,881.00p +1.79%International Consolidated Airlines Group SA (IAG) 242.00p +1.77%WPP (WPP) 734.50p +1.66%FTSE 100 - FallersLloyds Banking Group (LLOY) 46.70p -1.82%Essar Energy (ESSR) 379.00p -1.30%Prudential (PRU) 689.50p -1.29%Old Mutual (OML) 130.00p -1.07%Legal & General Group (LGEN) 116.00p -1.02%Admiral Group (ADM) 1,572.00p -1.01%AstraZeneca (AZN) 3,061.50p -0.99%Rexam (REX) 380.70p -0.91%Investec (INVP) 503.50p -0.89%Amec (AMEC) 1,116.00p -0.80%

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