FTSE 100 movers: BSkyB tops risers

15th Jun 2010 14:34

Bid news and trading statements are helping to push Footsie higher. The indicative 700p a share bid from News Corporation for British Sky Broadcasting has made the TV broadcaster the best performer of the day. News Corp currently owns 39.1% of BSkyB. The independent directors want nearer 800p a share and the share price is already above the indicative offer. Tesco says it is seeing evidence of a steady consumer recovery in Britain as it reported UK like for like sales growth of 1.1% in the thirteen weeks ending 30 May. However, most of that was due to the effect of January's VAT increase with growth modest when that is stripped out. Tesco points out that food inflation was much higher in the correspnding period. Total group sales increased by 8.2%, while growth excluding petrol was 6.9%.Inmarsat's launch of its handheld satellite phone has been soured by Bank of America Merrill Lynch cutting its rating on the shares from "neutral" to "underperform", because it believes that the satellite company will have to spend large amounts of cash to replace its older satellites.FTSE 100 - RisersBritish Sky Broadcasting Group (BSY) 712.00p +18.57%British Airways (BAY) 212.60p +3.15%Whitbread (WTB) 1,490.00p +2.69%InterContinental Hotels Group (IHG) 1,229.00p +2.67%Centrica (CNA) 297.80p +2.41%Royal Bank of Scotland Group (RBS) 44.14p +2.22%ICAP (IAP) 426.50p +2.20%Tesco (TSCO) 399.95p +2.12%3i Group (III) 298.20p +2.09%Smiths Group (SMIN) 1,127.00p +1.99%FTSE 100 - FallersInmarsat (ISAT) 784.00p -4.51%BP (BP.) 346.10p -2.63%United Utilities Group (UU.) 558.00p -1.24%Tullow Oil (TLW) 1,162.00p -1.02%Cable & Wireless Worldwide (CW.) 89.15p -0.94%Petrofac Ltd. (PFC) 1,275.00p -0.93%Diageo (DGE) 1,112.00p -0.63%Reckitt Benckiser Group (RB.) 3,263.00p -0.55%Aviva (AV.) 342.70p -0.46%Home Retail Group (HOME) 230.60p -0.39%