FTSE 100 movers: Barclays boosted by Morgan Stanley

16th Mar 2010 11:40

Bank giant Barclays is one of the best performers on a bullish note from Morgan Stanley, which has lifted its price target for the bank to 440p from 370p. The US broker estimates that investment bank arm Barclays Capital could make a £7bn profit in the next financial year.Cost cutting helped security group G4S lift underlying earnings by 10% last year, though organic sales slowed and are expected to remain subdued. Organic turnover growth was 3.7% in 2009 down from 9.5% the previous year.Panmure Gordon is enthusiastic still. "G4S has delivered a solid set of final results some 2% ahead of our forecast at the adjusted profit level, with robust organic growth running at 4% as expected," adding that it would not be adjusting its 2010 earnings forecasts at present as a result of the 2009 results announcement.FTSE 100 - RisersEurasian Natural Resources (ENRC) 1,156.00p +2.03%Barclays (BARC) 355.60p +2.01%Randgold Resources (RRS) 4,947.00p +1.41%Antofagasta (ANTO) 1,015.00p +1.40%Rolls-Royce Group (RR.) 575.00p +1.23%ICAP (IAP) 382.60p +1.22%Legal & General Group (LGEN) 80.70p +1.19%Intertek Group (ITRK) 1,415.00p +1.07%FTSE 100 - FallersG4S (GFS) 270.00p -3.09%Prudential (PRU) 524.00p -2.51%Compass Group (CPG) 495.70p -1.25%GlaxoSmithKline (GSK) 1,234.50p -1.08%Vodafone Group (VOD) 149.05p -1.03%Reckitt Benckiser Group (RB.) 3,499.00p -0.91%Admiral Group (ADM) 1,240.00p -0.88%Whitbread (WTB) 1,488.00p -0.87%