FTSE 100 movers: Int'l Power in top spot after proposal from GDF Suez

29th Mar 2012 15:01

UK utility giant International Power was sitting pretty in the top spot after it confirmed that it has received a non-binding indicative proposal from French electricity giant GDF Suez to buy-up the remaining stake in the firm. The 390p-a-share cash approach - for the remaining 30% interest in International Power that it does not already own - is a slight premium to yesterday's closing price of 383.4p and values the business at just under £20bn.Cigarettes maker Imperial Tobacco was also a high riser after saying it improved its revenue and profit momentum as it entered the second half of its financial year. First half reported tobacco net revenues (at constant exchange rates) are expected to increase by around 3%, compared with the 1% fall in the three months to the end of December. Vodafone was another riser after it, along with Tata Communications, was given three more weeks to make a formal offer for Cable and Wireless Worldwide. Meanwhile, high street retailer Marks & Spencer was among the worst performers after first-quarter numbers from the world's third-largest clothes retailer, Hennes & Mauritz (H&M), missed estimates. Earlier strength in the mining sector faded quickly after UBS cut its target prices for several mining stocks under its coverage. The Swiss broker also made a number of ratings downgrades, cutting its recommendations for Antofagasta, Kazakhmys and Petropavlovsk. FTSE 100 - RisersInternational Power (IPR) 406.20p +5.95%Rio Tinto (RIO) 3,365.00p +1.48%Imperial Tobacco Group (IMT) 2,556.00p +1.43%Johnson Matthey (JMAT) 2,303.00p +0.48%Aggreko (AGK) 2,235.00p +0.31%Vodafone Group (VOD) 174.20p +0.29%British American Tobacco (BATS) 3,186.50p +0.19%Sage Group (SGE) 300.10p +0.03%FTSE 100 - FallersRoyal Bank of Scotland Group (RBS) 27.59p -3.57%Barclays (BARC) 236.95p -3.52%Marks & Spencer Group (MKS) 370.90p -3.46%CRH (CRH) 1,251.00p -3.02%Wolseley (WOS) 2,374.00p -2.90%GKN (GKN) 201.20p -2.85%Weir Group (WEIR) 1,703.00p -2.85%Prudential (PRU) 747.50p -2.73%Vedanta Resources (VED) 1,200.00p -2.60%British Land Co (BLND) 473.40p -2.55%NR