FTSE 100 movers: More delays for Cairn Indian deal

29th Nov 2010 13:33

A delay in the Indian government's decision on the sale of Cairn Energy's Indian assets to Vedanta has hit Cairn's shares. The decision will not be made until February. The deal includes the transfer of ownership of exploration blocks which requires government approval. JPMorgan Cazenove has started coverage of insurer Resolution with an underweight recommendation. Banks are off their highs for the day but they are still ahead on the day. HSBC is the best performer on the day with RBS also ahead despite its exposure to Ireland. Miner African Barrick Gold has accelerated its drilling programme at the Nyanzaga Project in Tanzania following additional good drilling results. The miner said the drilling made further successful intersections on the southern extensions with several broad, higher-grade zones of gold mineralization.Travel firm TUI Travel is higher after disclosing it is to sell its Thomson Al Fresco business to Homair Vacances. At 30 September 2009 the net book value of the assets being sold was £10.3m.FTSE 100 - RisersHSBC Holdings (HSBA) 660.90p +1.51%Alliance Trust (ATST) 358.50p +1.07%African Barrick Gold (ABG) 515.50p +0.88%TUI Travel (TT.) 216.10p +0.65%Royal Bank of Scotland Group (RBS) 38.80p +0.28%Smith & Nephew (SN.) 596.00p +0.25%Antofagasta (ANTO) 1,328.00p +0.23%ICAP (IAP) 476.70p +0.17%Smiths Group (SMIN) 1,176.00p +0.09%Randgold Resources Ltd. (RRS) 6,075.00p +0.08%FTSE 100 - FallersPetrofac Ltd. (PFC) 1,419.00p -3.93%Cairn Energy (CNE) 381.10p -3.52%Resolution Ltd. (RSL) 219.50p -2.49%Compass Group (CPG) 542.50p -2.25%Weir Group (WEIR) 1,717.00p -2.22%Burberry Group (BRBY) 1,017.00p -2.21%BT Group (BT.A) 170.40p -2.18%Kingfisher (KGF) 239.50p -2.09%Aggreko (AGK) 1,469.00p -2.07%InterContinental Hotels Group (IHG) 1,140.00p -1.98%