FTSE 100 movers: Admiral and Aviva lead the way lower

9th Jul 2014 15:39

Car insurer Admiral slid lower after delivering a gloomy outlook as it reported a decline in revenues in the first half, saying that a return to growth in premiums still remained elusive. Despite higher customer numbers, turnover fell from £1.1bn to £1bn in the first six months of the year, as premiums declined 9%.Aviva shares also headed south, despite the company saying at a capital markets day that it plans to double cashflow over the next two years and reduce its debt as part of an overhaul. "We have made some progress at Aviva and it is time to move to the next phase of the turnaround," said Chief Executive Mark Wilson. Retailers Next and Marks & Spencer were hit by the British Retail Consortium's announcement that UK shop prices fell 1.8% in June, driven by cheaper electricals, furniture and clothes. Next was also one of a number of stocks that went ex-dividend today, including bottling group Coca-Cola HBC. Meanwhile, airline stocks easyJet and IAG showed signs of recovering following a heavy sell-off on Tuesday, which came on the back of a profit warning from peer Air France-KLM.Randgold Resources and African Barrick Gold were helped higher by a rising gold price, while Hammerson was lifted by Deutsche Bank, which upped its target price by 30p to 530p. FTSE 100 - RiserseasyJet (EZJ) 1,282.00p +2.72%Randgold Resources Ltd. (RRS) 5,085.00p +2.58%CRH (CRH) 1,519.00p +1.67%Hammerson (HMSO) 578.00p +1.14%International Consolidated Airlines Group SA (CDI) (IAG) 339.50p +1.07%Fresnillo (FRES) 930.00p +1.03%IMI (IMI) 1,468.00p +0.62%Land Securities Group (LAND) 1,010.00p +0.60%Smith & Nephew (SN.) 1,023.00p +0.49%Aggreko (AGK) 1,702.00p +0.47%FTSE 100 - FallersAdmiral Group (ADM) 1,496.00p -4.96%Aviva (AV.) 496.40p -3.14%Next (NXT) 6,300.00p -3.00%Marks & Spencer Group (MKS) 417.10p -2.41%TUI Travel (TT.) 372.10p -2.13%Petrofac Ltd. (PFC) 1,179.00p -2.00%Coca-Cola HBC AG (CDI) (CCH) 1,305.00p -1.88%United Utilities Group (UU.) 876.00p -1.79%Persimmon (PSN) 1,244.00p -1.66%Smiths Group (SMIN) 1,250.00p -1.65%NR