FTSE 100 Movers: Next takes a tumble

26th Oct 2011 13:03

Next was one of the worst performing stocks on the FTSE 100 on Wednesday after Deutsche Bank downgraded the high street giant from buy to hold, saying that it expects share price upside to remain muted until after Christmas. The German broker notes that Next has been the second best performing stock on the Footsie during the year-to-date, up 23% since its August lows while the blue chip index has risen just 10% over the same period. Drug giant GlaxoSmithKline posted a rise in revenues ahead of expectations but it is smaller rival Shire, which is due to report on Friday, that is shining today after Societe upgraded the stock from hold to buy. Meanwhile, Reckitt Benckiser was heading lower despite Credit Suisee keeping its outperform rating on the stock. Miners were on the up, with silver miner Fresnillo the top riser, while gold miner Randgold and copper miner Antofagasta are also posting strong gains.FTSE 100 - RisersFresnillo (FRES) 1,625.00p +2.59%Imperial Tobacco Group (IMT) 2,257.00p +2.17%Burberry Group (BRBY) 1,303.00p +2.12%Shire Plc (SHP) 1,993.00p +2.10%Antofagasta (ANTO) 1,174.00p +1.91%Legal & General Group (LGEN) 107.20p +1.90%British Sky Broadcasting Group (BSY) 734.50p +1.80%Randgold Resources Ltd. (RRS) 6,830.00p +1.79%ARM Holdings (ARM) 600.50p +1.78%Sage Group (SGE) 282.30p +1.69%FTSE 100 - FallersSmiths Group (SMIN) 938.50p -3.35%Next (NXT) 2,548.00p -2.41%Reckitt Benckiser Group (RB.) 3,276.00p -1.62%Lloyds Banking Group (LLOY) 34.42p -1.59%Land Securities Group (LAND) 658.00p -1.50%Rolls-Royce Group (RR.) 713.00p -1.38%Amec (AMEC) 901.50p -1.10%Xstrata (XTA) 1,003.50p -1.08%Ashmore Group (ASHM) 325.30p -1.06%Man Group (EMG) 154.40p -1.03%NR