FTSE 100 movers: Land Securities provides lift to property groups

25th Jun 2014 15:50

Bid target Shire was propelled higher after it received a boost from the US courts, which blocked competitors from selling generic versions of its Vyvanse branded drug for attention-deficit hyperactivity disorder (ADHD). Land Securities's decision to take a 30% stake in shopping centre Bluewater helped to lift sector peer Hammerson and British Land, but itself dropped into the red this afternoon. Meanwhile, a downgrade from JP Morgan prompted a steep drop in Meggitt shares. Credit Suisse reiterated a 'neutral' rating on Petrofac and cut its target price from 1,500p to 1,430p, pushing the stock firmly down.Cruise line operator Carnival sailed lower after it yesterday reported second quarter revenues that missed expectations. Packaging group Bunzl fell despite saying that overall trading has remained consistent with expectations since its last update in April. The company said that first-half revenues were up 6% at constant exchange rates, although recent currency movements have affected reported results.Miners were also in negative territory as sentiment was hit by the ongoing crisis in Iraq and a worse-than-expected downwards revision to US gross domestic product (GDP) estimates for the first quarter.FTSE 100 - RisersFriends Life Group Limited (FLG) 308.90p +1.61%Shire Plc (SHP) 4,469.00p +1.48%Rolls-Royce Holdings (RR.) 1,044.00p +1.16%Ashtead Group (AHT) 833.50p +0.79%Hammerson (HMSO) 572.50p +0.79%Burberry Group (BRBY) 1,463.00p +0.48%Johnson Matthey (JMAT) 3,002.00p +0.47%Aberdeen Asset Management (ADN) 441.00p +0.32%British Land Co (BLND) 689.00p +0.29%St James's Place (STJ) 743.50p +0.27%FTSE 100 - FallersMeggitt (MGGT) 509.00p -3.14%Petrofac Ltd. (PFC) 1,192.00p -2.53%Carnival (CCL) 2,220.00p -2.46%ARM Holdings (ARM) 887.00p -2.31%Coca-Cola HBC AG (CDI) (CCH) 1,337.00p -2.27%Antofagasta (ANTO) 762.50p -2.12%Melrose Industries (MRO) 249.50p -2.04%Anglo American (AAL) 1,428.00p -1.99%Morrison (Wm) Supermarkets (MRW) 183.20p -1.93%Experian (EXPN) 972.50p -1.82%NR