FTSE 100 movers: BAE recovers after sharp declines

21st Feb 2014 14:26

BAE Systems was regaining some of yesterday's heavy losses, rising into the stop spot by this afternoon. The group suffered a sharp decline on Thursday after it warned that profits could fall by up to 10 per cent on the back of pressures on US government spending, and despite reporting a three per cent increase in operating profits to 1.9bn pounds for 2013. Telecoms titan Vodafone was making decent gains today with shareholders today set to receive a windfall from the company's sale of its holding in its US joint venture with Verizon.ARM Holdings climbed after Credit Suisse reiterated its 'outperform' rating on the stock. RBS was higher amid reports that the bank will announce plans to slash as many as 30,000 jobs, reducing its staff count to the lowest levels in more than 10 years. The speculation comes ahead of the group's 2013 results due out next week, alongside which it is expected to unveil a massive restructuring programme of its divisions.Aerospace giant Rolls-Royce rose after it scored a $182.7m contract with the US Air Force to support the C-130J fleet amid concerns over cuts in government defence spending. Under the so-called MissionCare, Rolls-Royce will supply sustainment services for its AE 2100 engines, nacelles and propellers on the US Air Force C-130J fleet. Meanwhile, InterContinental Hotels Group was trading in the red after Credit Suisse lowered its recommendation from 'neutral' to 'underperform', pointing out that the shares are trading within just 4% of their all-time high at a price-to-earnings ratio of 23.IMI shares fell after it was downgraded to 'underperform' by BNP Paribas. FTSE 100 - RisersBAE Systems (BA.) 410.10p +2.42%Vodafone Group (VOD) 235.10p +2.40%ARM Holdings (ARM) 962.50p +1.64%Persimmon (PSN) 1,458.00p +1.46%Royal Bank of Scotland Group (RBS) 360.90p +1.46%Weir Group (WEIR) 2,354.00p +1.12%Fresnillo (FRES) 995.00p +1.02%Rio Tinto (RIO) 3,625.50p +0.89%Randgold Resources Ltd. (RRS) 4,827.00p +0.86%G4S (GFS) 235.10p +0.73%FTSE 100 - FallersInterContinental Hotels Group (IHG) 1,920.00p -2.78%IMI (IMI) 1,524.00p -2.62%Coca-Cola HBC AG (CDI) (CCH) 1,566.00p -1.82%Smiths Group (SMIN) 1,366.00p -1.73%ITV (ITV) 204.30p -1.68%International Consolidated Airlines Group SA (CDI) (IAG) 443.80p -1.49%Prudential (PRU) 1,335.00p -1.48%Kingfisher (KGF) 392.90p -1.26%Meggitt (MGGT) 508.50p -1.17%Rolls-Royce Holdings (RR.) 999.50p -1.04%NR