FTSE 100 movers: Admiral climbs on profit jump, Melrose slumps

5th Mar 2014 14:26

Investors cheered an in-line set of full-year results from insurance giant Admiral, as the group increased profits by seven per cent despite revenues falling eight per cent.Randgold Resources rose after Nomura raised its target price from 4,600p to 6,000p and upgraded the stock to 'buy'.Nomura also provided a lift to Whitbread, raising its target price from 4,023p to 4,770p and maintaining its 'buy' recommendation. For its part, UBS increased its target price from 4,090p to 4,450p, retaining its 'neutral' rating.Mining giant Anglo American was also on the up after revealing it has appointed a new chief of its South African Coal business. The role is being filled by Themba Mkhwanazi, who is currently Rio Tinto's Regional General Manager for the Americas. Meanwhile, industrial conglomerate Melrose saw profits almost double in 2013, but shares dropped sharply after the company said that sales growth in 2014 remained "challenging". Both Numis and Investec downgraded their ratings on the stock this morning.Housebuilders such as Persimon were among the worst performers after Credit Suisse lowered the sector from 'overweight' to 'market weight', recommending investors take profits. Building materials firm CRH fell in sympathy, along with construction equipment rental group Ashtead. A number of heavyweights were also trading lower after going ex-dividend, including BHP Billiton, Rio Tinto and TUI Travel.FTSE 100 - RisersAdmiral Group (ADM) 1,524.00p +7.40%RSA Insurance Group (RSA) 97.50p +1.67%British American Tobacco (BATS) 3,339.50p +1.61%Randgold Resources Ltd. (RRS) 4,953.00p +1.48%Intertek Group (ITRK) 3,076.00p +1.08%Anglo American (AAL) 1,514.50p +0.80%Whitbread (WTB) 4,434.00p +0.80%Centrica (CNA) 321.60p +0.75%Weir Group (WEIR) 2,553.00p +0.67%Antofagasta (ANTO) 908.50p +0.66%FTSE 100 - FallersMelrose Industries (MRO) 299.70p -8.60%Persimmon (PSN) 1,416.00p -3.61%CRH (CRH) 1,719.00p -3.26%Rio Tinto (RIO) 3,275.00p -3.15%TUI Travel (TT.) 436.50p -3.00%Meggitt (MGGT) 491.40p -2.98%Ashtead Group (AHT) 929.00p -2.82%BHP Billiton (BLT) 1,881.00p -2.39%Experian (EXPN) 1,078.00p -2.18%William Hill (WMH) 388.80p -2.07%NR