FTSE 100 movers: Invensys disappoints

20th Jan 2011 13:30

Engineer Invensys is leading the market lower even though it says it is "on track" during the third quarter.However, orders fell at the rail division and there was a "softening" in demand for controls which knocked its profit contribution. Operating profit before exceptional items was the same as last year, keeping the firm on course to deliver an improved performance for the full year.Miners are also heading lower on the back of fears that Chinese demand will be hit by higher interest rates. Fresnillo and Kazakhmys were the biggest fallers in the sector. Financials are higher. Insurer Aviva says that it should be able to increase its dividend this year. Debt is being reduced and the pension deficit has fallen from £1.7bn to £400m. Embedded value is 617p a share. FTSE 100 - Risers Lloyds Banking Group (LLOY) 67.20p +1.50%Aviva (AV.) 433.30p +1.17%National Grid (NG.) 536.00p +0.94%Scottish & Southern Energy (SSE) 1,217.00p +0.91%Standard Chartered (STAN) 1,714.50p +0.62%Barclays (BARC) 298.00p +0.62%Centrica (CNA) 332.00p +0.61%Unilever (ULVR) 1,903.00p +0.42%Capital Shopping Centres Group (CSCG) 374.50p +0.38%Wolseley (WOS) 2,194.00p +0.37%FTSE 100 - Fallers Invensys (ISYS) 333.00p -6.83%Fresnillo (FRES) 1,356.00p -5.17%Kazakhmys (KAZ) 1,553.00p -4.25%IMI (IMI) 887.50p -4.21%Lonmin (LMI) 1,764.00p -3.87%Man Group (EMG) 289.70p -3.85%Xstrata (XTA) 1,406.50p -3.83%Burberry Group (BRBY) 1,050.00p -3.67%ARM Holdings (ARM) 514.00p -3.66%GKN (GKN) 212.40p -3.59%