FTSE 100 movers: Footsie ahead despite ex-dividends

Resources companies and banks are heading the risers on the Footsie, while the forward momentum has been held back by a raft of companies going ex-dividend. Rising copper prices have boosted the shares of Fresnillo, Eurasian Natural Resources and Xstrata. RBS upgraded oil services provider Petrofac from hold to buy. The sum of the parts valuation has been increased from 1,025p a share to 1,230p a share. Petrofac is spinning off its oil and gas assets in EnQuest and RBS believes that this is the equivalent of distributing $600m to shareholders. The fallers are dominated by companies whose shares have gone ex-dividend. These include British American Tobacco, Schroders, Admiral and TUI Travel. Schroders fell by more than its dividend payment but the rest have declined less than the value of the dividend. FTSE 100 - RisersPetrofac Ltd (PFC) 1,165.00p +4.48%Lloyds Banking Group (LLOY) 55.38p +4.14%ICAP (IAP) 368.60p +3.95%British Airways (BAY) 231.60p +3.76%Royal Bank of Scotland Group (RBS) 40.35p +3.51%Fresnillo (FRES) 866.50p +3.15%Eurasian Natural Resources (ENRC) 1,141.00p +2.79%Invensys (ISYS) 342.50p +2.70%Xstrata (XTA) 1,209.50p +2.59%Vedanta Resources (VED) 2,727.00p +2.48%FTSE 100 - FallersBritish American Tobacco (BATS) 2,234.50p -3.12%Schroders NV (SDRC) 1,128.00p -2.59%Schroders (SDR) 1,354.00p -2.45%TUI Travel (TT.) 277.50p -1.80%Admiral Group (ADM) 1,241.00p -1.43%BAE Systems (BA.) 377.00p -0.89%Bunzl (BNZL) 707.00p -0.84%Inmarsat (ISAT) 762.00p -0.78%Man Group (EMG) 247.80p -0.64%Kingfisher (KGF) 217.10p -0.60%