FTSE 100 movers: Imperial Tobacco beats expectations

2nd Nov 2010 12:54

Cigarettes maker Imperial Tobacco topped market forecasts with its full year profits, and sharply reduced its debt. Adjusted profit before tax in the year to 30 September rose 10% to £2,467m from £2,233m the year before. The market had pencilled in a figure of £2.320m. Net debt was reduced by £1.5bn to £9.3bn. Higher metals prices are boosting Kazakhmys and Antofagasta. Shareholders have voted in favour of Wolseley's plan to change its tax residency to Switzerland. Pumps manufacturer Weir has more than made up yesterday's losses following further analysis of its trading statement. Lloyds fell after warning of 'subdued' loan demand. Impairments, or bad debts, have continued to decline and for the full year the level is expected to be in line with Lloyds' recent indications. Wholesale impairments will be lower than expected offset by higher wealth and international division charges, originating in Ireland and Australia primarily. RBS is also lower.Serco is continuing to fall following yesterday's grovelling apology for demanding a rebate from suppliers to cope with government cost-cutting. The outsourcing group has lost nearly 10% of its value in less than two days. FTSE 100 - RisersKazakhmys (KAZ) 1,384.00p +3.36%Tullow Oil (TLW) 1,206.00p +2.99%Imperial Tobacco Group (IMT) 2,056.00p +2.95%Antofagasta (ANTO) 1,378.00p +2.76%Royal Dutch Shell 'A' (RDSA) 2,098.00p +2.67%Wolseley (WOS) 1,710.00p +2.58%Weir Group (WEIR) 1,576.00p +2.54%Royal Dutch Shell 'B' (RDSB) 2,065.00p +2.46%BG Group (BG.) 1,239.00p +2.35%Shire Plc (SHP) 1,512.00p +2.16%FTSE 100 - FallersSerco Group (SRP) 564.00p -3.92%Lloyds Banking Group (LLOY) 68.01p -2.28%TUI Travel (TT.) 208.40p -1.28%Royal Bank of Scotland Group (RBS) 45.14p -0.97%Schroders (Non-Voting) (SDRC) 1,247.00p -0.72%ARM Holdings (ARM) 357.30p -0.72%Capita Group (CPI) 764.00p -0.65%BT Group (BT.A) 154.80p -0.58%Aggreko (AGK) 1,555.00p -0.51%Smiths Group (SMIN) 1,226.00p -0.49%