FTSE 100 movers: Amec remains confident

3rd Mar 2011 13:02

Footsie is dominated by risers today with two engineering companies the biggest gainers. Amec is the best performer after it said that it can expect to grow regardless of the pace of economic recovery. Pre-tax profits in 2010 soared to £258.2m from £203.5m the previous year as revenues grew to £2.95bn from £2.54bn. Projects during the period included support work with oil giant BP in Azerbaijan and an underground mining contract in Mongolia.IMI also enjoyed an increase in demand. In addition, cost cutting helped the engineer grow full-year profits by 44% to £304.4m on revenue up 7% to £1.91bn. The green light for a bid from Rupert Murdoch's NewsCorp, the publisher of the Times and Sun, for satellite broadcaster BSKyB has boosted the latter's share price. Sky News will be placed under independent control.Oil and gas firm Tullow Oil hailed an "exceptional result" on its drilling of the Enyenra-2A appraisal well, in the Deepwater Tano licence, offshore Ghana. Drilling successfully encountered oil in excellent quality sandstone reservoirs, with solid evidence of communication with the Owo-1 well, which confirms that the Owo oil discovery, now renamed Enyenra, is a major light oil field.FTSE 100 - Risers Amec (AMEC) 1,198.00p +6.11%IMI (IMI) 938.00p +5.99%Tullow Oil (TLW) 1,457.00p +3.26%Anglo American (AAL) 3,362.50p +2.89%British Sky Broadcasting Group (BSY) 820.50p +2.69%GKN (GKN) 210.00p +2.64%Rio Tinto (RIO) 4,356.50p +2.59%Smiths Group (SMIN) 1,327.00p +2.39%Weir Group (WEIR) 1,742.00p +2.35%Xstrata (XTA) 1,431.50p +2.29%FTSE 100 - Fallers Autonomy Corporation (AU.) 1,657.00p -1.02%RSA Insurance Group (RSA) 136.10p -0.80%Petrofac Ltd. (PFC) 1,405.00p -0.78%International Power (IPR) 325.60p -0.58%G4S (GFS) 261.80p -0.49%Kingfisher (KGF) 244.20p -0.33%Associated British Foods (ABF) 977.50p -0.31%Capital Shopping Centres Group (CSCG) 384.60p -0.31%Diageo (DGE) 1,181.00p -0.17%Man Group (EMG) 283.10p -0.11%