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FTSE 100 movers: SABMiller retreats on profit taking after strong results

Fri, 23rd May 2014 15:41

SABMiller retreated following yesterday's strong rise, which came on the back of a strong set of annual results. The group posted a 2% rise in adjusted pre-tax profit to $5,712, while the dividend was increase to 105 cents, up from 101 cents a year earlier.Sector peer Diageo tracked the stock lower.Burberry led the personal goods sector lower following gains earlier this week after it posted a 17% rise in annual revenue to £2.3bn, boosted by strong retail sales. The luxury fashion house reported adjusted pre-tax profit of £461m in the year to end of March 2014, up 8% on the previous year. Numis sent Intertek firmly lower after cutting its rating to 'hold' from 'buy', and lowering its target price from 3,782p to 3,100p. Meanwhile, platinum producer Anglo American jumped after it was announced that its subsidiary, Amplats, was continuing to engage in supervised mediation with the Association of Mineworkers and Construction Union (AMCU) at the Labour Court in a bid to end workers' strike action. London Stock Exchange raced ahead after Goldman Sachs upgraded it from 'sell' to 'neutral'. British financial watchdogs have slapped a £26m fine on banking group Barclays for alleged failings linked to setting of gold prices, but the news did little to deter investors. The Financial Conduct Authority (FCA) said in a statement that it was fining Barclays £26,033,500 "for failing to adequately manage conflicts of interest between itself and its customers as well as systems and controls failings, in relation to the Gold Fixing. These failures continued from 2004 to 2013." Sector peer Lloyds was also in this afternoon's top 10 risers. FTSE 100 - RisersMondi (MNDI) 1,076.00p +2.28%Anglo American (AAL) 1,572.00p +2.21%London Stock Exchange Group (LSE) 1,848.00p +2.16%Ashtead Group (AHT) 867.50p +1.94%easyJet (EZJ) 1,580.00p +1.94%Royal Mail (RMG) 527.50p +1.64%Lloyds Banking Group (LLOY) 75.97p +1.55%BT Group (BT.A) 387.70p +1.23%Antofagasta (ANTO) 795.50p +1.21%Barclays (BARC) 246.40p +1.19%FTSE 100 - FallersSABMiller (SAB) 3,303.50p -2.03%Associated British Foods (ABF) 2,962.00p -1.92%Burberry Group (BRBY) 1,501.00p -1.83%BG Group (BG.) 1,212.50p -1.74%United Utilities Group (UU.) 843.00p -1.63%Intertek Group (ITRK) 2,864.00p -1.45%Diageo (DGE) 1,897.00p -1.43%Next (NXT) 6,570.00p -1.35%Prudential (PRU) 1,382.00p -1.29%RSA Insurance Group (RSA) 475.50p -1.29%NR

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