FTSE 100 movers: Carnival drops after full-year revenue decline

20th Dec 2012 15:25

Carnival , the largest cruise company in the world, reported a fall in full-year revenues after what it called its most challenging year ever.Shares dropped nearly 6% on Thursday afternoon after the company reported that revenue came in at $15.4bn, down from $15.8bn previously.Leading the risers was engineering solutions group Weir rose after announcing that it is to buy pressure control rental equipment firm Mathena for £148m. Investec this morning raised its target price for the stock from 2,020p to 2,100p and reiterated its 'buy' rating, saying that the purchase "fits in nicely with Seaboard and diversifies Oil & Gas revenues away from the pressure pumping market".Outsourcing giant Serco fell despite saying that it is on track to meet expectations for 2012 as it announced the sale of two operations at a loss. The firm said it expected to deliver a year of strong total revenue growth, including good organic growth.Distribution and outsourcing firm Bunzl extended losses following yesterday's pre-close trading update. JP Morgan Cazenove and UBS both cut their target prices for the stock this morning.Defence and aerospace group BAE Systems rebounded following yesterday's admission that it is struggling to agree on a price for the supply of 72 Typhoon aircraft with Saudi Arabia. The company said that if it cannot come to an agreement, it would reduce its full-year underlying earnings per share by around three pence per share.FTSE 100 - RisersWeir Group (WEIR) 1,869.00p +3.15%Aberdeen Asset Management (ADN) 368.30p +2.76%ITV (ITV) 106.50p +2.60%InterContinental Hotels Group (IHG) 1,702.00p +2.59%Aggreko (AGK) 1,739.00p +2.29%CRH (CRH) 1,248.00p +1.96%Tullow Oil (TLW) 1,252.00p +1.95%GKN (GKN) 230.70p +1.59%Wood Group (John) (WG.) 749.00p +1.22%Kingfisher (KGF) 281.80p +1.18%FTSE 100 - FallersCarnival (CCL) 2,402.00p -5.62%Randgold Resources Ltd. (RRS) 5,975.00p -2.13%United Utilities Group (UU.) 674.50p -1.96%Polymetal International (POLY) 1,158.00p -1.86%Fresnillo (FRES) 1,881.00p -1.57%Bunzl (BNZL) 1,006.00p -1.37%BG Group (BG.) 1,009.50p -1.32%Reckitt Benckiser Group (RB.) 3,917.00p -1.21%IMI (IMI) 1,094.00p -1.17%Antofagasta (ANTO) 1,351.00p -1.10%BC