FTSE 100 movers: BP in top spot after Q3 results impress

29th Oct 2013 14:45

BP shares were firmly in the top spot today following a positive quarterly update from the oil giant. The group has raised its dividend 5.6% to 9.5 cents a share after third quarter earnings fell less than expected. Profit adjusted for one-time items and inventory changes declined to $3.7bn from $5bn a year earlier, beating the $3.4bn forecast.Insurance companies also provided a lift, with relieved shareholders expressing their confidence after the recent storm proved to be largely tamer than had been expected. Precious metal miner Fresnillo fell into the bottom spot on the FTSE after the International Monetary Fund (IMF) released data showing that Russian gold reserves fell in September, something that hadn't happened for a year, pushing the gold price down. Close behind was Lloyds Banking Group, which swung to a pre-tax profit of £1.7bn in the first nine months of the year from a loss of £607m in the same period in 2012, but saw a £750m increase in its PPI bill, pushing shares firmly lower. Altogether, the company has paid £8bn in relation to PPI. Randgold Resources was retreating one day after shares rose strongly on reports of plans for further exploration in Cote d'Ivoire, also hit by the above IMF report. A rating reduction from Nomura pushed shares in Coca-Cola HBC into the red, with the stock now rated as 'reduce'. Tullow Oil declined after it revealed that the Wisting Alternative well, offshore Norway, had reached total depth and although oil shows had been encountered, the reservoir rock was of poor quality. As such, it will be plugged and abandoned. Temporary power group Aggreko retreated a day after it said it expected full year profits to be in line with market expectations despite the absence of a one-off lift from the London Olympics. It yesterday occupied the top spot on the FTSE. FTSE 100 - RisersBP (BP.) 471.80p +4.36%Admiral Group (ADM) 1,275.00p +2.82%Standard Life (SL.) 370.70p +2.09%Persimmon (PSN) 1,248.00p +1.96%International Consolidated Airlines Group SA (CDI) (IAG) 351.40p +1.68%Marks & Spencer Group (MKS) 482.70p +1.62%BT Group (BT.A) 367.40p +1.58%William Hill (WMH) 398.00p +1.48%ARM Holdings (ARM) 986.00p +1.44%Royal Dutch Shell 'A' (RDSA) 2,167.50p +1.43%FTSE 100 - FallersFresnillo (FRES) 1,020.00p -2.11%Lloyds Banking Group (LLOY) 78.01p -2.02%Randgold Resources Ltd. (RRS) 4,757.00p -1.94%Tullow Oil (TLW) 943.50p -1.41%Shire Plc (SHP) 2,776.00p -1.35%Coca-Cola HBC AG (CDI) (CCH) 1,800.00p -1.26%Aberdeen Asset Management (ADN) 448.90p -1.15%Aggreko (AGK) 1,590.00p -1.12%Royal Bank of Scotland Group (RBS) 364.70p -1.03%Compass Group (CPG) 895.50p -0.89%NR