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FTSE 100 movers: TUI Travels gains on merger reports

Thu, 14th Aug 2014 15:43

TUI Travel advanced following reports its majority owner TUI AG is pressing ahead with plans to merge the two companies.

Germany-based TUI AG, which owns 55% of TUI Travel, said there was "no plan B" in the event of a failure of the proposed merger with the listed UK business.

TUI AG also reported third quarter underlying earnings rose 89% to €163m on a 3% lift in turnover to €11.4bn, resulting in a 28% narrowing in nine-month underlying pre-tax losses before interest and amortisation to €182m.

The company said it expected annual earnings to be "at least at the upper end of guidance" of 6%-12% higher than last year's €762m following strong results at its cruise and hotel divisions and at TUI Travel, which contributes more than 80% of its profits.

Petrofac was another high riser a day after announcing it won a contract to build a refinery for Malaysia's state-owned Petronas worth $500m.

In contrast, G4S, Admiral Group and Rio Tinto were among the biggest fallers.

FTSE 100 - Risers

TUI Travel (TT.) 373.60p +3.23%

Petrofac Ltd. (PFC) 1,134.00p +2.25%

British Land Co (BLND) 722.00p +2.12%

HSBC Holdings (HSBA) 649.60p +1.77%

Land Securities Group (LAND) 1,084.00p +1.69%

Royal Mail (RMG) 443.30p +1.67%

Intu Properties (INTU) 335.20p +1.42%

Johnson Matthey (JMAT) 3,055.00p +1.36%

SSE (SSE) 1,483.00p +1.16%

SABMiller (SAB) 3,261.00p +1.16%

FTSE 100 - Fallers

G4S (GFS) 268.30p -1.90%

Admiral Group (ADM) 1,350.00p -1.53%

Rio Tinto (RIO) 3,373.00p -1.48%

Burberry Group (BRBY) 1,441.00p -1.10%

Kingfisher (KGF) 298.10p -1.06%

Intertek Group (ITRK) 2,795.00p -0.96%

Friends Life Group Limited (FLG) 309.10p -0.96%

BHP Billiton (BLT) 2,023.50p -0.78%

Next (NXT) 6,820.00p -0.66%

AstraZeneca (AZN) 4,075.00p -0.65%

RD

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