FTSE 100 movers: Friends talks boost shares

10th Aug 2009 11:17

Life insurer Friends Provident is leading the risers after saying it is now is close to agreeing a takeover by Resolution after the terms of the original offer were improved. In a statement, Friends Provident confirmed it had received a new offer of 0.9 Resolution shares for each Friends Provident share, worth about £1.85bn. The offer also includes a partial cash alternative up to £500m.BAe Systems is going well after Charles Stanley kept its 'buy' rating arguing the firm's diverse business base and wide geographical reach to serve it well.BAE 'continues to operate a well balance business,' with 31% of first half sales from Land & Armaments, 28% from Electronics Intelligence & Support, 24% from Programmes & Support and 16% from its international division International, the broker notes. Having fallen 12.2% over the past three months, the group is inexpensive, according to Charles Stanley.Banks are lower on reports Lloyds Banking is mulling a £15bn cash call to help it avoid having to pay up to £16bn to join the UK government's asset protection scheme. FTSE 100 - RisersFriends Provident Group (FP.) 75.00p +6.99%Carnival (CCL) 1,874.00p +3.08%Rexam (REX) 230.20p +2.27%Hammerson (HMSO) 387.70p +2.16%Prudential (PRU) 482.50p +2.12%Thomson Reuters (TRIL) 2,024.00p +1.96%Eurasian Natural Resources (ENRC) 865.00p +1.94%WPP Group (WPP) 476.30p +1.82%FTSE 100 - FallersRoyal Bank of Scotland Group (RBS) 44.83p -4.60%Lloyds Banking Group (LLOY) 98.05p -3.87%Xstrata (XTA) 787.50p -2.96%BHP Billiton (BLT) 1,546.50p -2.67%Marks & Spencer Group (MKS) 340.60p -2.55%Fresnillo (FRES) 618.50p -2.44%Rio Tinto (RIO) 2,367.50p -2.23%British Airways (BAY) 167.40p -2.11%