FTSE 100 movers: Petrofac rises on Barclays upgrade

21st May 2014 15:28

Petrofac climbed after Barclays raised its recommendation for the UK's largest oil and gas engineer. An increase in oil prices also boosted the sector with both Brent and West Texas Intermediate crude futures higher. Burberry's annual revenue rose 17% to £2.3bn, boosted by strong retail sales. The luxury fashion house reported adjusted pre-tax profit of £461m in the year to end of March 2014, up 8% on the previous year. AstraZeneca climbed after UBS raised its target price from 4,825p to 5,000p maintaining its 'buy' recommendation.Meanwhile, Morrison was in the bottom spot after Deutsche Bank lowered its target price from 200p to 190p downgrading to 'sell'. The broker said a rise in the British supermarket group's shares was unwarranted and a 275p takeover bid was unlikely.Copper giant Antofagasta faces a "more challenging short-term environment', the group told investors at its annual general meeting today. Chairman Jean-Paul Luksic said that following a 'difficult' 12 months in 2013, the group was now in a period of consolidation, but said the fundamentals for copper in the medium-term remained strong. SSE fell after it said retail profits declined by nearly a third, blaming lower energy use by households and businesses and higher wholesale gas costs for a 32.2% fall in energy supply operating profit to £246.2m.FTSE 100 - RisersSports Direct International (SPD) 746.50p +3.11%William Hill (WMH) 334.40p +2.58%Petrofac Ltd. (PFC) 1,220.00p +2.18%AstraZeneca (AZN) 4,401.00p +2.15%Barclays (BARC) 243.30p +1.99%ARM Holdings (ARM) 861.00p +1.89%Ashtead Group (AHT) 845.50p +1.87%Whitbread (WTB) 4,054.00p +1.53%Aberdeen Asset Management (ADN) 428.10p +1.52%Travis Perkins (TPK) 1,673.00p +1.46%FTSE 100 - FallersMorrison (Wm) Supermarkets (MRW) 204.10p -2.58%Pearson (PSON) 1,133.00p -1.99%Antofagasta (ANTO) 770.50p -1.66%Associated British Foods (ABF) 3,020.00p -1.63%HSBC Holdings (HSBA) 618.90p -1.31%easyJet (EZJ) 1,560.00p -1.27%SSE (SSE) 1,551.00p -1.08%Intertek Group (ITRK) 2,898.00p -0.96%Tesco (TSCO) 303.20p -0.93%International Consolidated Airlines Group SA (CDI) (IAG) 375.00p -0.90%NR