FTSE 100 movers: Johnson Matthey's results disappoint

2nd Jun 2011 15:45

Full-year profits from speciality chemicals group Johnson Matthey came in ahead of market expectations with good performances in all parts of the business. However, investors seemed underwhelmed as the stock sunk on the blue chip index on Thursday.The miners are falling lower, as metals prices decline. Copper, gold and silver prices have fallen today, with the later commodity seeing a 2.65% drop. Rio Tinto, Xstrata, Fresnillo and Antofagasta are in the red.The warm weather and recent string of bank holidays boosted sales at Kingfisher in the 13 weeks to 30 April, but shares were under a cloud. Prime markets confirmed its 'sell' rating on the stock, saying that the share have climbed "too far too quickly" over the last couple of months. Shares in Burberry are off the mark, despite Credit Suisse raising its target price from 1,120p to 1,310p for the luxury brands. The broker has kept its 'neutral' rating, saying that "its rich valuation remains the main impediment for us to turn more positive considering the greater upside we see elsewhere in the sector."Advertising firm WPP is slightly lower despite reporting a sharp rise in revenues in the first four months of 2011. "The world continues to move at very different speeds, with revenues in the BRICs countries up over 17% in the first four months, and the Next 11 up almost 14%, showing the strongest growth, followed by the United States and the United Kingdom," the company said. ---BCFTSE 100 - RisersSerco Group (SRP) 600.50p +4.89%Capita Group (CPI) 737.50p +1.86%Pearson (PSON) 1,145.00p +1.69%Compass Group (CPG) 599.50p +1.44%Sage Group (SGE) 288.70p +1.30%Investec (INVP) 511.50p +1.29%Scottish & Southern Energy (SSE) 1,396.00p +1.16%John Wood Group (WG.) 630.50p +0.80%Hargreaves Lansdown (HL.) 634.00p +0.63%Vedanta Resources (VED) 2,141.00p +0.52%FTSE 100 - FallersJohnson Matthey (JMAT) 2,011.00p -3.36%Lloyds Banking Group (LLOY) 48.75p -2.52%GKN (GKN) 213.60p -2.47%Rio Tinto (RIO) 4,150.00p -2.47%Essar Energy (ESSR) 439.20p -2.40%Xstrata (XTA) 1,387.00p -2.32%Fresnillo (FRES) 1,445.00p -2.23%Hammerson (HMSO) 475.90p -2.14%Antofagasta (ANTO) 1,282.00p -2.06%Schroders (Non-Voting) (SDRC) 1,332.00p -1.99%