FTSE 100 movers: Fresnillo climbs on broker upgrade

2nd Apr 2014 15:35

Fresnillo was a strong riser following RBC Capital's decision to upgrade the stock from a 'sector perform' to an 'outperform'. BHP Billiton and Randgold were also rising strongly. Marks & Spencer charged higher on news it is planning to open 250 more stores overseas over the next three years. Chief Executive Marc Bolland, who spoke to City analysts in Paris on Tuesday, said that the move would grow the High Street retailer's international sales by 25% and profits by as much as 40%.Sports Direct was continuing to rise sharply after Liberum Capital said on Tuesday the company could expand its "limited scale" in Europe. Analyst Sanjay Vidyarthi said that organic growth alone is not viable, but identified "potential [acquisition] targets which equate to over 1,000 stores across Europe and around €2bn of sales". Tullow Oil rose after it announced plans to offer half a million dollars worth of senior notes to generate funds that will be used to repay some of its debt under its current credit facilities. The notes are due in 2022 and will be guaranteed by several of Tullow's subsidiary companies. Heading the other way were Resolution and Pearson after the stocks went ex-dividend. Morrion and Tesco fell after HSBC released a negative note on the sector, which read: "The UK food retail industry is undergoing the biggest structural change in decades, the enormity of which should not be under-estimated. The quoted sector is losing market share and profits are declining at an accelerating rate, with no end in sight. Tesco, Asda and Morrisons are all pledging major price investments and the space race continues with around 4% capacity additions per annum." UK engineering company Smiths Group fell despite announcing the appointment of a new Group Strategy Director. Silvio Bracone will start effective immediately and replaces Mark Reckitt, who is leaving to focus on his "expanding portfolio of non-executive roles".FTSE 100 - RisersFresnillo (FRES) 875.00p +3.43%Mondi (MNDI) 1,068.00p +2.59%International Consolidated Airlines Group SA (CDI) (IAG) 435.30p +2.54%Randgold Resources Ltd. (RRS) 4,623.00p +2.41%Antofagasta (ANTO) 859.50p +2.38%Marks & Spencer Group (MKS) 470.00p +2.22%Hammerson (HMSO) 565.00p +2.17%Barclays (BARC) 242.50p +2.13%BHP Billiton (BLT) 1,921.50p +2.10%Sports Direct International (SPD) 910.50p +2.02%FTSE 100 - FallersResolution Ltd. (RSL) 290.00p -4.51%Pearson (PSON) 1,012.00p -3.07%Hargreaves Lansdown (HL.) 1,419.00p -2.14%Morrison (Wm) Supermarkets (MRW) 206.90p -1.85%British Sky Broadcasting Group (BSY) 914.00p -1.19%ARM Holdings (ARM) 1,035.00p -1.15%Associated British Foods (ABF) 2,755.00p -1.04%Whitbread (WTB) 4,190.00p -1.04%Diageo (DGE) 1,833.00p -1.00%Petrofac Ltd. (PFC) 1,426.00p -0.97%NR