FTSE 100 movers: Glencore and Xstrata rise despite rumours

4th Jul 2012 13:59

Potential merger partners Glencore and Xstrata were high risers despite reports the Xstrata shareholder Knight Vinke said it was against the deal on its original terms. Tobacco giants Imperial Tobacco and British American Tobacco were also in demand after Moody's Investors Service said that European tobacco companies will "continue to generate good cash flow thanks to the pricing inelasticity of tobacco products and growth in cigarette consumption in emerging markets." The ratings agency's outlook for the sector over the next 12-18 months is "positive". Meanwhile, oil giant Tullow was firmly in the red despite revealing that it revenues in the first half of 2012 would be a record $1.15bn, up from $1.06bn the year before. Analysts at Investec said the trading update was in line with forecasts but has reduced its EPS predictions by around 10% for 2013 and 2014 on the back of lowered Brent crude estimates. REIT group British Land was falling heavily after going ex-dividend - from today, investors will not have the chance to benefit from their latest dividend payouts.FTSE 100 - RisersAberdeen Asset Management (ADN) 261.70p +2.63%Glencore International (GLEN) 311.15p +2.44%Xstrata (XTA) 821.50p +1.87%Croda International (CRDA) 2,367.00p +1.46%GKN (GKN) 185.90p +1.25%Tate & Lyle (TATE) 658.00p +1.15%Carnival (CCL) 2,217.00p +0.91%Ashmore Group (ASHM) 353.50p +0.88%Serco Group (SRP) 554.00p +0.82%Vodafone Group (VOD) 180.95p +0.78%FTSE 100 - FallersTullow Oil (TLW) 1,499.00p -2.09%Aviva (AV.) 281.20p -1.99%British Land Co (BLND) 512.50p -1.73%Lloyds Banking Group (LLOY) 31.29p -1.63%Vedanta Resources (VED) 946.00p -1.56%Royal Bank of Scotland Group (RBS) 213.20p -1.52%Prudential (PRU) 741.00p -1.40%Legal & General Group (LGEN) 127.70p -1.39%HSBC Holdings (HSBA) 563.00p -1.28%Admiral Group (ADM) 1,170.00p -1.27%NR