FTSE 100 movers: CRH soars on 2014 outlook

25th Feb 2014 14:58

CRH climbed to the top of the leaderboard as it looked ahead to 2014, predicting it would be a year of profit growth. The gains came despite poor results in 2013, for which it blamed severe winter conditions and weaker trading in Europe. Comments from broker Jefferies, giving the stock a 'buy' rating and 1,700p price target, helped. RSA Insurance recovered somewhat from yesterday's declines, which came after it issued a statement acknowledging recent press speculation regarding a potential rights issue and stated it was "considering" several options. Fellow insurer Admiral followed suit. The latter had its neutral rating reiterated by analysts at Credit Suisse earlier today. William Hill shares rose modestly; they had their 'hold' rating reaffirmed by analysts at Goodbody Stockbrokers this morning. Miners weighed heavily on the index, with Anglo American, Rio Tinto, Antofagasta and Fresnillo all registering big drops as concerns about China, which is the largest metals consumer in the world, dragged sentiment lower and metals prices moved into the red. Investors are concerned that Chinese lenders could be cutting back on credits to property developers. GKN shares fell sharply after the group reported a flat full-year performance in Europe, while both Japanese and Indian production fell 4%. Brokers Jefferies, Numis, Societe Generale and Investec were all upbeat about the stock, however, all choosing to reiterate their 'buy' ratings.BG Group shares also declined. The company had its 'equal weight' rating reiterated by analysts at Barclays this morning. Shares in Persimmon moved lower despite the house-builder's decision to speed up its dividend payments. Broker Jefferies opted to keep its 'hold' advice. FTSE 100 - RisersCRH (CRH) 1,785.00p +6.00%RSA Insurance Group (RSA) 99.20p +1.74%Admiral Group (ADM) 1,490.00p +1.36%Reckitt Benckiser Group (RB.) 5,080.00p +1.09%Sports Direct International (SPD) 801.50p +1.01%Melrose Industries (MRO) 328.90p +0.95%ITV (ITV) 205.30p +0.74%Coca-Cola HBC AG (CDI) (CCH) 1,527.00p +0.73%Sage Group (SGE) 432.50p +0.72%William Hill (WMH) 374.00p +0.70%FTSE 100 - FallersFresnillo (FRES) 960.00p -3.76%Rio Tinto (RIO) 3,405.50p -3.70%Anglo American (AAL) 1,485.00p -3.16%Antofagasta (ANTO) 906.50p -2.84%GKN (GKN) 405.20p -2.34%Vodafone Group (VOD) 247.00p -2.10%Standard Chartered (STAN) 1,278.00p -2.07%BHP Billiton (BLT) 1,919.50p -2.07%BG Group (BG.) 1,095.50p -1.97%Rexam (REX) 504.00p -1.75%NR