FTSE 100 movers: IAG leaps on Charles Stanley comments

2nd Nov 2012 16:14

Airlines group IAG was the top performer this afternoon, up three per cent over 168p. Technical analysts at Charles Stanley said: "A close above 168p would suggest that this line is giving way and would amount to a 'trading buy' signal." Oil giant Tullow was also a high riser after JPMorgan Cazenove upgraded its stance on the shares to 'overweight'. In contrast, engineering giant Weir was under the weather after Jefferies cut its rating to 'hold' and supermarket group Morrisons fell after Morgan Stanley downgraded the stock to 'underweight'. Shares in luxury brand Burberry were making gains ahead of its first-half results on November 7th. Seymour Pierce has raised its target price and maintained its 'buy' rating this morning, saying that risks to forecasts are now 'on the upside'. Car insurance firm Admiral dropped after seeing a 2% decrease in third-quarter turnover. "Little has changed since the half year. The UK car insurance market is cyclical and we are in the softer part of the cycle with premium rates coming down," said Chief Executive Henry Engelhardt. Banking giant RBS was lower after reporting a statutory loss before tax of £1.26bn for the three months to September 30th after taking a £1.46bn charge in own-credit adjustments and a £400m bill for PPI redress. Investec maintained its 'sell' rating for the stock this morning, saying that it had expected a loss of £1.0bn. Sector peer Lloyds fell lower following its sharp rise on Thursday on the back of its third quarter update, which showed figures were in line with expectations. Nomura said that while the bank has made progress, "let's not get ahead of ourselves". FTSE 100 - RisersInternational Consolidated Airlines Group SA (CDI) (IAG) 168.50p +3.18%Tullow Oil (TLW) 1,447.00p +2.84%Burberry Group (BRBY) 1,246.00p +2.55%Whitbread (WTB) 2,443.00p +2.13%GKN (GKN) 216.40p +2.08%Evraz (EVR) 242.70p +1.80%Carnival (CCL) 2,541.00p +1.80%Hargreaves Lansdown (HL.) 759.50p +1.74%Tate & Lyle (TATE) 739.50p +1.72%CRH (CRH) 1,195.00p +1.70%FTSE 100 - FallersAdmiral Group (ADM) 1,079.00p -5.52%Royal Bank of Scotland Group (RBS) 280.20p -2.44%Lloyds Banking Group (LLOY) 42.95p -2.23%Weir Group (WEIR) 1,754.00p -2.23%Pennon Group (PNN) 703.00p -2.02%GlaxoSmithKline (GSK) 1,360.00p -1.98%BG Group (BG.) 1,081.00p -1.91%Severn Trent (SVT) 1,568.00p -1.75%Petrofac Ltd. (PFC) 1,598.00p -1.54%Smith & Nephew (SN.) 638.50p -1.54%NR