FTSE 100 movers: Glencore leaps after merger finally completes

2nd May 2013 15:32

Glencore International was in the top spot after finally completing the merger with fellow miner Xstrata. Oil and gas conglomerate BG Group was also a strong riser after it cheered investors with a one per cent rise in revenue and other operating income. Financial services group Legal & General was higher after hailing record assets, sales and cash generation in the first quarter of 2013 as its UK and US businesses exceeded management's expectations. Medical technology group Smith & Nephew rose after it said it plans to give back $300m to shareholders in a buyback plan. The group, which makes artificial hips, said the buyback is part of its new capital allocation framework for further investments and acquisitions. Meanwhile, drug maker Shire lifted first-quarter earnings 10% but revenues missed consensus estimates by 5.0 per cent. Product sales in the three months to end-March 2013 were up 1.0% to $1.1bn against a strong set of comparatives from the equivalent period in 2012, but this was less than analysts were expecting. FTSE 100 - RisersGlencore International (GLEN) 330.40p +5.12%BG Group (BG.) 1,119.00p +2.71%Imperial Tobacco Group (IMT) 2,367.00p +2.65%Whitbread (WTB) 2,615.00p +2.55%Polymetal International (POLY) 694.50p +2.13%Legal & General Group (LGEN) 174.20p +2.11%Standard Life (SL.) 385.70p +1.93%Antofagasta (ANTO) 912.00p +1.90%Smith & Nephew (SN.) 748.00p +1.56%WPP (WPP) 1,078.00p +1.32%FTSE 100 - FallersShire Plc (SHP) 1,881.00p -6.88%Melrose Industries (MRO) 241.50p -3.40%Weir Group (WEIR) 2,102.00p -2.50%BT Group (BT.A) 279.10p -2.31%IMI (IMI) 1,218.00p -2.25%CRH (CRH) 1,336.00p -2.12%Wolseley (WOS) 3,141.00p -1.87%Sage Group (SGE) 334.80p -1.85%Experian (EXPN) 1,132.00p -1.82%Serco Group (SRP) 617.00p -1.75%NR