FTSE 100 movers: Shire leaps after rejecting bid from AbbVie

Shares in Shire surged after the pharmaceutical group rejected a £27bn takeover approach by AbbVie, saying it "fundamentally undervalued" the company and its prospects. Panmure Gordon hiked its target price for the stock on Friday, saying that the AbbVie's proposal was "barely adequate". The broker said that Shire's rare diseases business is one of the "hottest assets in biopharmaceuticals".Mining stocks edged higher, with precious metal producers Fresnillo and Randgold rising strongly after gold prices hit a two-month high yesterday.Meanwhile, Vodafone continued to slide after Bank of America Merrill Lynch on Thursday downgraded the stock to 'neutral' and raised questions about Project Spring, the company's £19bn infrastructure investment programme. The stock was also hit by the news its Australian network had suffered a major failure, resulting in the comany offering a free weekend of data to its customers. Rolls-Royce fell as Deutsche Bank reiterated its 'sell' rating on the power systems giant.Lloyds was also lower following the flotation of a stake in its TSB business. FTSE 100 - RisersShire Plc (SHP) 4,459.00p +19.29%British Sky Broadcasting Group (BSY) 892.50p +2.41%Whitbread (WTB) 4,399.00p +2.30%International Consolidated Airlines Group SA (CDI) (IAG) 383.50p +2.10%Smith & Nephew (SN.) 1,086.00p +1.97%easyJet (EZJ) 1,453.00p +1.96%Aggreko (AGK) 1,635.00p +1.93%Carnival (CCL) 2,311.00p +1.85%Fresnillo (FRES) 849.00p +1.68%Randgold Resources Ltd. (RRS) 4,813.00p +1.67%FTSE 100 - FallersVodafone Group (VOD) 191.75p -1.59%BG Group (BG.) 1,245.50p -1.15%Marks & Spencer Group (MKS) 434.60p -1.11%BT Group (BT.A) 388.20p -1.10%RSA Insurance Group (RSA) 492.40p -1.08%Sainsbury (J) (SBRY) 318.20p -0.96%CRH (CRH) 1,643.00p -0.84%Admiral Group (ADM) 1,545.00p -0.77%Lloyds Banking Group (LLOY) 76.83p -0.74%Morrison (Wm) Supermarkets (MRW) 189.20p -0.68%NR