FTSE 100 movers: Morrisons rises on H2 expectations

12th Sep 2013 14:36

Morrison Supermarkets was in the top spot this afternoon after saying it expects sales to improve in the second half. The rise came despite a fall in first half profit on nearly flat turnover. Analysts at Jefferies said it was a "mixed" first half, but an "undemanding valuation and a clear reduction in capes intensity from here onwards point to an improving outlook". Following close behind was AMEC, which rose after saying that it is considering additional cash returns in the fourth quarter after walking away from making a firm offer for FTSE 250 engineering peer Kentz Corporation. The company also said that it continues to see "attractive opportunities to extend its geographic footprint in the growth regions".William Hill was also heading north after JPMorgan Chase reiterated its 'overweight' rating on the gambling stock. Imperial Tobacco was higher following the appointment of a new Chief Financial Officer (CFO), Oliver Tant, to replace the retiring Bob Dyrbus. Analysts at Investec highlighted that it is a positive event for shareholders, pointing out that his reputation, experience and profile all suggest that he has both the skills and clout required to help the company's Chief Executive Officer, Alison Cooper, to steady this sometimes "errant" ship. Meanwhile, silver and gold prices were heading lower this morning, causing shares of precious metals producers Randgold and Fresnillo to take a hit. SABMiller was taken down a peg by Nomura which cut its rating to 'reduce'. The broker said that the exceptional profit growth across the industry since 2005 is "unlikely to be matched".FTSE 100 - RisersMorrison (Wm) Supermarkets (MRW) 304.80p +2.56%Amec (AMEC) 1,084.00p +2.46%William Hill (WMH) 428.60p +2.29%Wood Group (John) (WG.) 832.50p +1.59%United Utilities Group (UU.) 690.00p +1.47%Imperial Tobacco Group (IMT) 2,294.00p +1.19%Sainsbury (J) (SBRY) 400.50p +1.11%WPP (WPP) 1,287.00p +1.02%TUI Travel (TT.) 359.00p +1.01%British Sky Broadcasting Group (BSY) 858.00p +1.00%FTSE 100 - FallersFresnillo (FRES) 1,187.00p -2.55%Randgold Resources Ltd. (RRS) 4,498.00p -2.51%Aggreko (AGK) 1,612.00p -2.36%Melrose Industries (MRO) 306.00p -2.14%Antofagasta (ANTO) 869.00p -1.92%IMI (IMI) 1,481.00p -1.73%Johnson Matthey (JMAT) 2,939.00p -1.28%Burberry Group (BRBY) 1,620.00p -1.22%Weir Group (WEIR) 2,325.00p -1.15%Vedanta Resources (VED) 1,181.00p -1.09%NR