FTSE 100 movers: M&S hit by Credit Suisse comments

7th Oct 2013 15:17

High Street department store Marks & Spencer was trading in the red after Credit Suisse retained its 'underperform' rating, saying that full-year forecasts "look demanding" after a weak first-half. The bank said the shares - trading at a 20 per cent premium to the long-term average - look "overbought" after a 30 per cent rise so far this year.Shares in British luxury brand Burberry were also under heavy selling pressure after its Chief Executive Officer Angela Ahrendts told French newspaper Les Echos that the slowdown in China may be more than temporary; in fact, it could be the new reality.Sports Direct came off recent highs, as investor appetite was hit by the ongoing budget saga in the US. Meanwhile, precious metals group Fresnillo was among the risers after UBS raised its rating for the stock from 'neutral' to 'buy', saying the recent weakness provides a buying opportunity. The stock has fallen by 30% since the end of August.Aviva continued to rise after the group last week sold its US business for $2.6bn, significantly higher than the previously announced sum of $1.8bn. Broadcaster ITV climbed on the back of a target price lift to 250p from Credit Suisse. FTSE 100 - RisersFresnillo (FRES) 927.50p +1.53%Aviva (AV.) 419.00p +1.01%ITV (ITV) 180.30p +1.01%Aggreko (AGK) 1,455.00p +0.90%Randgold Resources Ltd. (RRS) 4,384.00p +0.67%Associated British Foods (ABF) 1,895.00p +0.64%GlaxoSmithKline (GSK) 1,563.50p +0.48%SABMiller (SAB) 3,026.50p +0.45%Tullow Oil (TLW) 1,004.00p +0.30%Resolution Ltd. (RSL) 323.80p +0.19%FTSE 100 - FallersSports Direct International (SPD) 676.50p -4.04%Marks & Spencer Group (MKS) 478.60p -3.12%easyJet (EZJ) 1,261.00p -2.78%Persimmon (PSN) 1,052.00p -2.32%International Consolidated Airlines Group SA (CDI) (IAG) 335.00p -2.22%Travis Perkins (TPK) 1,652.00p -1.96%Weir Group (WEIR) 2,232.00p -1.85%Next (NXT) 5,000.00p -1.77%Burberry Group (BRBY) 1,600.00p -1.72%Kingfisher (KGF) 362.80p -1.68%NR