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FTSE 100 movers: Standard Life leads financials higher

Fri, 04th Oct 2013 15:24

Financials were performing relatively well today with insurers Standard Life, Prudential, Resolution and RSA moving higher, along with banking groups HSBC and RBS. Standard Life was boosted by JP Morgan, which reiterated its 'overweight' rating on the stock, and commented that growth continued to be strong. Emerging market-focused Standard Chartered, however, was in the red after receiving a ratings downgrade from Numis last night. Sweeteners and food ingredients group Tate & Lyle was in demand despite a mixed second- quarter update. The company said that adjusted operating profits in the second quarter were slightly below last year due to softness in the US beverage sector but it still maintained its guidance for "another year of profitable growth" in the 12 months to March 2014.Meanwhile, Kingfisher, the DIY retailer which owns the B&Q and Screwfix brands in the UK, was another casualty of the day on Friday, suffering heavy losses before the close. The stock has been under heavy selling pressure since the release of its interim results on September 11th after it reported a 0.8% in like-for-like sales in the first half (at constant currency) and a 1.6% drop in adjusted pre-tax profits.Bookmaker William Hill continued to decline after it yesterday warned there was no certainty it would make up the shortfall caused by a disappointing third quarter when operating profits slumped 31% despite a 10% increase in net revenues.easyJet retreated one day after Panmure Gordon kept its 'buy' rating and 1,500p target price for the airline following a strong pre-close trading update from the budget airline on Thursday morning. The broker said that the statement "suggests that the commercial and operational performance has continued to be robust across the network". FTSE 100 - RisersStandard Life (SL.) 354.40p +2.61%GKN (GKN) 352.10p +2.21%Intertek Group (ITRK) 3,260.00p +1.84%Royal Bank of Scotland Group (RBS) 373.40p +1.83%Pearson (PSON) 1,245.00p +1.55%Tate & Lyle (TATE) 749.00p +1.35%Mondi (MNDI) 1,059.00p +1.34%CRH (CRH) 1,485.00p +1.30%Morrison (Wm) Supermarkets (MRW) 279.40p +1.20%HSBC Holdings (HSBA) 677.30p +1.17%FTSE 100 - FallersKingfisher (KGF) 370.30p -2.55%Petrofac Ltd. (PFC) 1,378.00p -1.64%Aggreko (AGK) 1,455.00p -1.62%Standard Chartered (STAN) 1,444.50p -1.43%Sage Group (SGE) 329.50p -1.32%easyJet (EZJ) 1,292.00p -1.22%Next (NXT) 5,080.00p -1.17%Persimmon (PSN) 1,078.00p -1.01%William Hill (WMH) 408.90p -0.99%Tesco (TSCO) 362.10p -0.79%NR

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