FTSE 100 movers: GKN drops despite hiking divi

28th Feb 2012 14:49

Automotive and aerospace engineer GKN dropped into the bottom spot despite hiking its total dividend by a fifth after seeing double-digit growth in both sales and profits in 2011. The group did report a subdued performance in GKN Aerospace as it has struggled with governments' defence spending remaining under pressure. Outsourcing giant Serco also took a hit, despite saying 2011 was a year of "solid operational performance and contract awards across the portfolio", reflected in a 7.4% increase in revenue to £4,646m from £4,327m in 2011. Meanwhile, Essar Energy has rebounded after seeing a steep fall in its share price yesterday as its reported a sharp drop in profits in the 12 months ended December 31st. Other notable performers included mining peers Evraz, Vedanta Resources and Rio Tinto, who were tracking metals prices higher. Another heavy faller was Whitbread after seeing both reported sales and like-for-like (LFL) sales slow down in the 11 weeks to February 16th, as strong growth at its Costa coffee shop chain was met with a more subdued performance at its hotels and restaurants. FTSE 100 - RisersEssar Energy (ESSR) 111.50p +3.62%Evraz (EVR) 413.40p +2.66%Capita (CPI) 752.00p +1.69%IMI (IMI) 987.50p +1.39%Antofagasta (ANTO) 1,356.00p +1.19%Sage Group (SGE) 309.90p +0.91%Old Mutual (OML) 161.30p +0.88%Burberry Group (BRBY) 1,403.00p +0.86%ITV (ITV) 79.85p +0.82%Centrica (CNA) 299.80p +0.81%FTSE 100 - FallersGKN (GKN) 220.30p -5.25%Hargreaves Lansdown (HL.) 436.10p -2.94%Serco Group (SRP) 542.00p -2.34%BAE Systems (BA.) 308.70p -2.31%Pearson (PSON) 1,180.00p -1.99%Weir Group (WEIR) 2,187.00p -1.93%Whitbread (WTB) 1,687.00p -1.92%Tullow Oil (TLW) 1,504.00p -1.76%Lloyds Banking Group (LLOY) 34.30p -1.72%Man Group (EMG) 132.10p -1.12%NR