FTSE 100 movers: Barclays sells mortgage assets

21st Mar 2011 13:44

Barclays has sold a portfolio of property loans to CreXus Investment Corp, a commercial mortgage REIT, for $586m in cash. CreXus needs to sell shares to raise money via a share issue in order to buy the 30 commercial real estate assets. CreXus is managed by a subsidiary of Annaly Capital Management, the largest mortgage REIT in the US.Mobile phone giant Vodafone is a riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm will become number one, but both AT&T and Verizon Wireless - in which Vodafone has a 45% stake - will have huge market power in the fast growing mobile data, video and apps market. Engineer Weir has been downgraded from outperform to neutral by Credit Suisse, which has a price target of 1835p.Indian energy company Essar Energy saw record refinery throughput in 2010 as it pushed revenue up by more than two-fifths from 2009's levels, while earnings before interest, tax, depreciation and amortisation advanced 8% to $719m. However, traders focused on the group's warning about rising raw material and energy costs.UK energy companies will be referred to the Competition Commission this year unless they make their bewildering array of tariffs easier to understand. This has knocked National Grid, International Power, Scottish & Southern Energy and Centrica. FTSE 100 - Risers Vodafone Group (VOD) 176.80p +4.03%IMI (IMI) 990.00p +3.66%Legal & General Group (LGEN) 113.70p +3.46%Invensys (ISYS) 347.70p +3.45%Weir Group (WEIR) 1,689.00p +3.30%Barclays (BARC) 291.10p +3.19%Wolseley (WOS) 2,141.00p +3.13%Intertek Group (ITRK) 1,995.00p +2.99%Rolls-Royce Group (RR.) 594.50p +2.77%Burberry Group (BRBY) 1,136.00p +2.71%FTSE 100 - Fallers Essar Energy (ESSR) 446.20p -6.06%National Grid (NG.) 569.50p -1.30%ITV (ITV) 86.05p -1.21%BG Group (BG.) 1,485.50p -0.90%Cairn Energy (CNE) 420.00p -0.87%Petrofac Ltd. (PFC) 1,417.00p -0.63%International Power (IPR) 312.50p -0.51%International Consolidated Airlines Group SA (IAG) 218.70p -0.18%Scottish & Southern Energy (SSE) 1,232.00p -0.16%Centrica (CNA) 328.10p -0.12%