FTSE 100 movers: Burberry jumps after 'standout' first quarter

10th Jul 2013 14:27

Luxury fashion brand Burberry saw its share price jump on Wednesday after saying that it was pleased with its first-quarter retail performance as underlying revenues rose 18 per cent. Chief Executive Angela Ahrendts said that spring/summer 2013 was a 'standout' season.Petrofac was in demand after Citigroup named the stock as one of its top picks in the European oil services sector. Similarly, supermarket peers Morrison and Tesco were higher after Exane BNP Paribas upgraded its ratings on both stocks. Sainsbury, which was left at 'underperform', was under the weather today.Security solutions group G4S was in the red after Goldman Sachs maintained its 'sell' rating on the stock, saying that it sees downside risk to profit and margins.Mining stocks were among the worst performers today on the back of disappointing trade figures from Asian powerhouse China. Fresnillo, Randgold and Glencore Xstrata were lower, while Vedanta was also trading in the red after going ex-dividend.Also weighing on the sector was a research note from Goldman Sachs, which cut its target prices for a number of mining stocks, saying that negative earnings momentum and limited free cash flow continue to take the shine off the sector, as well as lower growth in China and weaker copper prices.Nevertheless, quality testing firm Intertek was the biggest faller of the day, slumping after Jefferies cut its target price for the shares from 2,800p to 2,750p, keeping an 'underperform' recommendation. The broker labelled the stock one of its "least preferred" names in the UK business and employment services sector.FTSE 100 - RisersBurberry Group (BRBY) 1,508.00p +4.72%Petrofac Ltd. (PFC) 1,300.00p +1.25%Morrison (Wm) Supermarkets (MRW) 281.10p +1.12%Tesco (TSCO) 347.20p +1.05%BP (BP.) 468.60p +0.82%Aviva (AV.) 368.00p +0.77%Legal & General Group (LGEN) 186.90p +0.70%Royal Dutch Shell 'B' (RDSB) 2,260.50p +0.60%BAE Systems (BA.) 420.50p +0.57%Reed Elsevier (REL) 792.00p +0.51%FTSE 100 - FallersIntertek Group (ITRK) 3,004.00p -3.10%Fresnillo (FRES) 924.00p -2.84%Vedanta Resources (VED) 1,065.00p -2.65%Randgold Resources Ltd. (RRS) 4,118.00p -2.25%G4S (GFS) 224.80p -2.05%British American Tobacco (BATS) 3,484.00p -1.94%Imperial Tobacco Group (IMT) 2,295.00p -1.92%International Consolidated Airlines Group SA (CDI) (IAG) 269.90p -1.89%Glencore Xstrata (GLEN) 260.10p -1.57%Rolls-Royce Holdings (RR.) 1,186.00p -1.50%BC