FTSE 100 movers: IHG firmly in top spot on speculation

31st May 2012 14:53

Holiday Inn and Crowne Plaza owner InterContinental Hotels Group (IHG) climbed to the top spot on the back of M&A speculation, with analyst at Numis earlier this week speculating about a possible tie-up with sector peer Marriott. More fuel was added to the rumours today after activist investor Nelson Peltz declared a 4.27 per cent stake in IHG held through Trian Fund Management; Peltz is known to build interests in companies to push through change (he is said to have been instrumental in the Cadbury-Schweppes demerger). Oil stocks were tracking crude prices higher this morning with BG Group, Tullow Oil and Royal Dutch Shell on the rise. Meanwhile, insurance group Admiral was a heavy faller after the Office of Fair Trading said it would refer the private motor insurance market to the Competition Commission, "after it found evidence that insurers compete in a dysfunctional way that may push up premiums for drivers by £225m a year." FTSE 100 - RisersInterContinental Hotels Group (IHG) 1,523.00p +5.91%Sage Group (SGE) 258.10p +2.99%BG Group (BG.) 1,251.50p +2.25%Man Group (EMG) 73.10p +1.95%Tesco (TSCO) 302.05p +1.68%Kingfisher (KGF) 280.80p +1.63%Randgold Resources Ltd. (RRS) 5,180.00p +1.47%SABMiller (SAB) 2,390.00p +1.44%British American Tobacco (BATS) 3,044.50p +1.40%Fresnillo (FRES) 1,325.00p +1.38%FTSE 100 - FallersITV (ITV) 72.55p -6.14%Admiral Group (ADM) 1,056.00p -5.63%Shire Plc (SHP) 1,832.00p -1.56%Smiths Group (SMIN) 999.50p -1.53%CRH (CRH) 1,105.00p -1.43%Antofagasta (ANTO) 1,004.00p -1.28%Eurasian Natural Resources Corp. (ENRC) 429.20p -1.24%Burberry Group (BRBY) 1,392.00p -1.21%ICAP (IAP) 340.20p -1.16%Weir Group (WEIR) 1,572.00p -1.13%NR