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FTSE 100 movers: Morrisons sinks 6% as sales decline continues

Thu, 07th May 2015 15:06

Morrisons was the standout mover of the day on Thursday as investors reacted to deteriorating sales trends at the grocer in its first quarter. Like-for-like sales dropped 2.9% in its first three months of the fiscal year, compared with a lesser 2.6% fall in the fourth quarter. Results were not as bad as many had feared, but that didn't stop the stock from dropping over 6%.Mining stocks were also weaker as risk appetite waned on the back of political uncertainty in the UK. The decision by the world's largest steel producer, ArcelorMittal, to cut its profit forecasts for 2015 on the back of lower iron ore and a weaker US market was also likely hitting shares in the sector. Anglo American, BHP Billiton and Fresnillo were all on the decline.Falling crude prices were also having a negative effect on shares of oil majors BP and Shell.Airlines Easyjet and IAG were in demand after reporting traffic growth for April in spite of air-traffic control strikes in France which led to hundreds of cancellations. Easyjet in particular cancelled 602 flights last month, compared with just 48 in April 2014.Insurance group RSA impressed investors with a positive start to the year as underlying premium income returned to modest growth, though reported results were dented by the strength of the pound.BT erased an earlier gain despite the telecoms giant's annual profits beating City forecasts for earnings and cash flow as it added a record number of new broadband customers in the fourth quarter. FTSE 100 - RisersCarnival (CCL) 2,995.00p +3.17%Aviva (AV.) 526.50p +2.53%easyJet (EZJ) 1,814.00p +2.31%RSA Insurance Group (RSA) 427.40p +2.25%International Consolidated Airlines Group SA (CDI) (IAG) 555.00p +1.83%Taylor Wimpey (TW.) 165.00p +1.79%Pearson (PSON) 1,311.00p +1.71%ARM Holdings (ARM) 1,141.00p +1.69%Aberdeen Asset Management (ADN) 437.50p +1.48%SABMiller (SAB) 3,452.00p +1.34%FTSE 100 - FallersMorrison (Wm) Supermarkets (MRW) 177.30p -6.34%Anglo American (AAL) 1,104.50p -4.25%GlaxoSmithKline (GSK) 1,455.50p -3.90%BHP Billiton (BLT) 1,538.50p -3.51%BP (BP.) 457.10p -3.42%Admiral Group (ADM) 1,501.00p -3.16%Fresnillo (FRES) 707.50p -2.88%Royal Dutch Shell 'B' (RDSB) 2,069.00p -2.47%G4S (GFS) 284.20p -2.34%Hargreaves Lansdown (HL.) 1,147.00p -2.30%

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