FTSE 100 movers: IAG is biggest faller after downgrade

15th May 2012 15:53

Airline company IAG was pressured into the bottom spot after JP Morgan Cazenove downgraded its recommendation from overweight to neutral. Miners were also pushed lower as metal prices took a hit, with Vedanta, Kazakhmys and Rio Tinto all in the bottom 10. Meanwhile, international security solutions firm G4S was a high riser despite saying that profits in the first three months of 2012 were, as expected, at similar levels to the corresponding period of last year. Looking forward, the company said organic growth has continued to improve in developed markets and remains strong in developing markets, and theorganic growth rate is expected to continue to improve during 2012. Russian steel giant Evraz climbed despite saying that revenue, prices and sales volumes were all flat in the first quarter of 2012, with currency movements making operations more expensive. Medical devices group Smiths Group was in demand after saying that full-year expectations remain in line with earlier guidance. Both sales and underlying headline operating profit in the nine months to April 28th were ahead of last year. Telecoms titan BT Group also rose after Espirito Santo upgraded its rating on the stock from sell to neutral. FTSE 100 - RisersCarnival (CCL) 2,032.00p +3.30%G4S (GFS) 275.20p +3.15%Smiths Group (SMIN) 1,044.00p +1.75%BT Group (BT.A) 208.30p +1.66%Polymetal International (POLY) 807.00p +1.57%Evraz (EVR) 328.00p +1.36%Weir Group (WEIR) 1,527.00p +1.13%Meggitt (MGGT) 391.50p +0.72%Tullow Oil (TLW) 1,403.00p +0.72%Kingfisher (KGF) 285.00p +0.67%FTSE 100 - FallersInternational Consolidated Airlines Group SA (CDI) (IAG) 150.10p -5.83%Vedanta Resources (VED) 1,014.00p -3.70%Kazakhmys (KAZ) 712.50p -3.32%Man Group (EMG) 80.25p -3.31%Aviva (AV.) 282.30p -2.89%Serco Group (SRP) 524.50p -2.78%Resolution Ltd. (RSL) 206.00p -2.65%Rio Tinto (RIO) 2,970.00p -2.40%IMI (IMI) 883.50p -2.32%Experian (EXPN) 900.00p -2.28%NR