FTSE 100 movers: Citigroup comments lift Morrisons

9th Sep 2014 15:39

Supermarket chain WM Morrison moved north after Citigroup upgraded its rating on the stock to 'buy'. The bank said that the company's 7.5% dividend yield is "safe", playing down recent concerns that have weighed on the shares in recent weeks.JP Morgan Cazenove reiterated its 'underweight' position on Meggitt, but helped the stock higher after raising its target price from 415p to 435p.Glasgow-based engineer Weir and Edinburgh-headquartered Standard Life, which had also both fallen sharply the previous session on Scottish concerns, were rebounding slightly.Hotel, restaurant and Costa owner Whitbread was only marginally in positive territory, despite releasing a strong second-quarter trading update which showed that sales had grown 12.8%.Food, ingredients and retail group Associated British Foods continued to drop after it said it continued to feel the impact of lower sugar prices and currency movements.FTSE 100 - RisersPersimmon (PSN) 1,344.00p +2.52%Morrison (Wm) Supermarkets (MRW) 174.10p +2.41%Meggitt (MGGT) 480.40p +2.00%Lloyds Banking Group (LLOY) 73.31p +1.54%Barratt Developments (BDEV) 365.70p +1.36%SABMiller (SAB) 3,471.50p +1.34%Marks & Spencer Group (MKS) 433.30p +1.21%Shire Plc (SHP) 5,190.00p +1.07%Wolseley (WOS) 3,281.00p +1.05%Smiths Group (SMIN) 1,354.00p +1.04%FTSE 100 - FallersCoca-Cola HBC AG (CDI) (CCH) 1,400.00p -2.03%Anglo American (AAL) 1,516.50p -1.75%Royal Dutch Shell 'B' (RDSB) 2,497.50p -1.69%SSE (SSE) 1,453.00p -1.62%British Land Co (BLND) 716.50p -1.58%Royal Dutch Shell 'A' (RDSA) 2,407.00p -1.21%Associated British Foods (ABF) 2,724.00p -1.20%Prudential (PRU) 1,425.00p -1.04%Capita (CPI) 1,180.00p -1.01%United Utilities Group (UU.) 857.50p -0.98%