FTSE 100 movers: Banks and miners recover

29th Jan 2010 15:34

The FTSE 100 index is recovering today with banks and miners leading the way. Negative broker comment has not hampered the banks. FBR Capital Markets has been running its rule over UK banks and has cut its price target for HSBC from 893p a share to 800p a share "to reflect a similar level of conservatism surrounding insurance capital as we have with Lloyds Banking". Standard Chartered also gets its price target trimmed by FBR, from 1574p a share to 1493p a share. Standard Chartered is near to that target price but HSBC is still well below the 800p a share target price. Barclays, which has been popular with private investors during the past week, is the biggest riser. A positive mining sector note from Goldman Sachs helped some of the mining companies. Xstrata is the biggest riser in the sector. Positive broker comment is boosting hotels and coffee bars operator Whitbread. Pay TV provider British Sky Broadcasting shares are continuing their decline following yesterday's interim figures. Revenues were marginally ahead of expectations but broker Daniel Stewart says new broadband customer sign ups remain comparatively weak and broadband-related costs have risen sharply. FTSE 100 - RisersBarclays (BARC) 274.40p +3.57%Xstrata (XTA) 1,039.50p +3.48%Whitbread (WTB) 1,411.00p +3.45%HSBC Holdings (HSBA) 682.70p +3.44%Standard Chartered (STAN) 1,470.00p +2.65%Amec (AMEC) 755.00p +2.44%Wolseley (WOS) 1,393.00p +2.43%Intertek Group (ITRK) 1,223.00p +2.43%Rio Tinto (RIO) 3,126.50p +2.39%Invensys (ISYS) 310.00p +2.38%FTSE 100 - FallersICAP (IAP) 375.00p -1.76%TUI Travel (TT.) 260.40p -1.55%British Sky Broadcasting Group (BSY) 533.00p -1.30%Prudential (PRU) 580.50p -1.28%Man Group (EMG) 235.10p -1.01%Legal & General Group (LGEN) 76.00p -0.91%SEGRO (SGRO) 315.20p -0.72%Thomas Cook Group (TCG) 228.90p -0.43%GlaxoSmithKline (GSK) 1,223.00p -0.37%Morrison (Wm) Supermarkets (MRW) 289.70p -0.28%