FTSE 100 movers: Drinks firms dragged lower by Remy Cointreau

26th Nov 2013 14:04

Drinks makers SABMiller and Diageo declined as they tracked their European counterparts lower after French peer Remy Cointreau SA forecast a decline in annual profit. One of the Chinese metals groups bidding for Glencore Xstrata's Las Bambas copper project in Peru has dropped out of the race after China lent its support to a rival bid, contributing to the stock's decline today. Also pushing it lower was Bank of America Corp.'s Merrill Lynch, which downgraded the company. Smith & Nephew was in decline after announcing its intention to acquire Brazilian firm Politec Saúde for the distribution of its Advanced Wound Management products there. "Brazil is an exciting long-term opportunity and this is an important investment which creates a significant platform from which we can grow," the firm said. Meanwhile, plumbing giant Wolseley headed up the leaders. The firm, which was up almost 3%, is holding its annual general meeting today. Engineering services giant Babcock regained some of yesterday's losses, which came after it revealed that it is in discussions about setting up a "joint venture" with helicopter firm Avincis, which press reports suggested could include a partial or even full buy-out. Numis and Panmure Gordon were yesterday weighing on the shares after both downgraded their recommendations from 'buy' to 'hold'. Petrofac, the oil and gas services provider, continued to rise one day after saying that its 50/50 joint venture with Korean based Daelim Industrial has been awarded a $2.1bn engineering, procurement and construction contract by Oman Oil Refineries and Petroleum Industries. FTSE 100 - RisersWolseley (WOS) 3,340.00p +2.96%Babcock International Group (BAB) 1,313.00p +2.26%Petrofac Ltd. (PFC) 1,238.00p +2.15%Whitbread (WTB) 3,552.00p +1.69%TUI Travel (TT.) 368.40p +1.54%Persimmon (PSN) 1,233.00p +1.48%ITV (ITV) 187.90p +1.46%William Hill (WMH) 379.80p +1.28%Kingfisher (KGF) 395.80p +1.25%Barclays (BARC) 261.25p +0.83%FTSE 100 - FallersSABMiller (SAB) 3,184.50p -2.15%Glencore Xstrata (GLEN) 306.00p -1.94%British Sky Broadcasting Group (BSY) 818.00p -1.92%Tesco (TSCO) 347.55p -1.89%Carnival (CCL) 2,233.00p -1.72%Anglo American (AAL) 1,348.50p -1.68%Old Mutual (OML) 196.20p -1.51%GlaxoSmithKline (GSK) 1,618.00p -1.43%BHP Billiton (BLT) 1,849.00p -1.39%Admiral Group (ADM) 1,232.00p -1.36%NR