FTSE 100 movers: Cairn boosted by Greenland hopes

21st Sep 2010 14:47

Oil and gas explorer Cairn Energy is the best performer even though it has abandoned a well that it drilled in Greenland because it said that the discovery was not commercial. Cairn did say that the presence of both oil and gas confirms an active, working petroleum system in the basin and it believes that is extremely encouraging at this very early stage of exploration.Shares in cruise operator Carnival headed higher after it released its third quarter figures at 2.15pm. Carnival said third quarter revenues rose from $4.1bn to $4.4bn. Diluted earnings per share jumped 22% to $1.62 from $1.33 in the third quarter of last year. The shares had already risen yesterday.There has been a negative reaction to news that Eurasian Natural Resources Corporation is buying the outstanding 50% interest in Brazilian miner Bahia Minerals for $670m. It has also been granted an option to buy Greystone Mineracao do Brasil Limitada for up to $150m. Rumours that Centrica could enter the bidding for International Power have sent its shares lower. FTSE 100 - RisersCairn Energy (CNE) 440.00p +3.09%Carnival (CCL) 2,560.00p +2.85%Wolseley (WOS) 1,503.00p +2.31%Vedanta Resources (VED) 2,200.00p +2.18%Fresnillo (FRES) 1,201.00p +1.69%Diageo (DGE) 1,110.00p +1.65%TUI Travel (TT.) 224.00p +1.59%Burberry Group (BRBY) 955.50p +1.43%Invensys (ISYS) 291.60p +1.36%BG Group (BG.) 1,129.00p +1.35%FTSE 100 - FallersEurasian Natural Resources (ENRC) 898.00p -1.80%Resolution (RSL) 238.90p -1.77%Centrica (CNA) 335.00p -1.76%Scottish & Southern Energy (SSE) 1,136.00p -1.30%Randgold Resources (RRS) 6,355.00p -1.24%Essar Energy (ESSR) 454.00p -1.05%African Barrick Gold (ABG) 593.00p -1.00%Autonomy Corporation (AU.) 1,840.00p -0.92%Man Group (EMG) 225.30p -0.88%United Utilities Group (UU.) 579.00p -0.77%