FTSE 100 Movers: Intertek leads the way up

16th Nov 2011 14:16

Intertek, the testing and quality assurance company, rose to pole position after it said year-on-year organic revenue growth for the ten months to the end of October was 8%, in line with the figure published in the half year update in August.Adding revenues from acquisitions and currency effects, total reported revenues year-to-date are up 26% on the same period of 2010. At the opposite end of the scale, Essar Energy lost over 5% following project delays and concerns over costs. Following close behind, inter-dealer broker ICAP reckons full-year pre-tax profits should be within the range of market expectations but added the caveat that this projection is based on the assumption that markets normalise in the last quarter. Vodafone was also dropping lower after Dutch telecoms firm KPN opened the books at its Spanish operations to prospective buyers, including the British telecoms operator, reports said. The telecommunications giant also went ex-dividend today. Reed Elsevier, the business information and data company, said the overall improvement in its trading performance seen in the first half of the year has continued into the second half, but shares still fell on the update. Meanwhile, aerospace and defence engineering firm Meggitt was heading north after it was awarded two separate contracts, one of which is worth £13m.Under the multi-million pound deal, the company will supply the UK Ministry of Defence (MoD) with a small arms simulator upgrade, known as a Dismounted Close Combat Trainer (DCCT). Not far behind, Cairn Energy rose after Societe Generale initiated coverage of the stock with a recommendation to buy. FTSE 100 - RisersIntertek Group (ITRK) 1,940.00p +2.86%Meggitt (MGGT) 393.20p +2.69%ITV (ITV) 66.70p +1.83%Cairn Energy (CNE) 292.90p +1.70%Serco Group (SRP) 502.50p +1.52%Aggreko (AGK) 1,802.00p +1.24%Kingfisher (KGF) 251.00p +1.13%Tate & Lyle (TATE) 690.00p +0.88%Imperial Tobacco Group (IMT) 2,349.00p +0.77%Whitbread (WTB) 1,630.00p +0.74%FTSE 100 - FallersEssar Energy (ESSR) 259.80p -5.01%ICAP (IAP) 350.00p -4.63%British Sky Broadcasting Group (BSY) 723.50p -3.85%Vodafone Group (VOD) 174.25p -3.52%Marks & Spencer Group (MKS) 324.80p -2.40%Reed Elsevier (REL) 525.00p -2.33%Vedanta Resources (VED) 1,084.00p -2.17%IMI (IMI) 766.00p -2.17%Fresnillo (FRES) 1,827.00p -2.14%Diageo (DGE) 1,310.50p -1.98%NR