FTSE 100 movers: Merger activity dominates

2nd Sep 2010 15:57

Bid talk has pushed Footsie higher. TUI Travel continues to rise following speculation that minority shareholders may be bought out. Bid speculation is also driving up the share price of software company Autonomy with acquisition-hungry US software giants Microsoft and Oracle in the frame as likely bidders at a price north of 2500p per share.A new contract boosted BAE Systems. Chip maker ARM is lower after Panmure Gordon repeated its sell recommendation and cut its price target to 265p. Shares in Tullow Oil fell after it announced that it is buying half-shares in five licences in the East African rift basins of Kenya and Ethiopia. Africa Oil Corp has sold Tullow 50% stakes in blocks 10BB, 10A, 12A and 13T in Kenya and the South Omo block in Ethiopia, an area covering 97,000 square kilometres.Citigroup downgraded Lonmin from buy to hold. FTSE 100 - RisersMan Group (EMG) 229.60p +6.05%Autonomy Corporation (AU.) 1,706.00p +4.60%Whitbread (WTB) 1,514.00p +3.63%BAE Systems (BA.) 312.60p +3.51%Carnival (CCL) 2,272.00p +3.46%TUI Travel (TT.) 221.90p +2.54%Old Mutual (OML) 134.50p +2.13%International Power (IPR) 386.30p +2.06%Vedanta Resources (VED) 2,009.00p +1.98%Wolseley (WOS) 1,362.00p +1.95%FTSE 100 - FallersTullow Oil (TLW) 1,186.00p -3.89%ARM Holdings (ARM) 360.20p -3.72%Cairn Energy (CNE) 454.90p -3.68%Cable & Wireless Worldwide (CW.) 70.00p -2.71%Inmarsat (ISAT) 683.50p -2.43%Centrica (CNA) 324.70p -2.02%Fresnillo (FRES) 1,100.00p -1.70%3i Group (III) 266.20p -1.41%Essar Energy (ESSR) 414.10p -1.40%Lonmin (LMI) 1,586.00p -1.31%