FTSE 100 movers: RBS tops the list, Essar drops on court ruling

17th Jan 2012 14:59

Part-nationalised lender Royal Bank of Scotland was leading the FTSE 100 higher on Tuesday afternoon after striking a deal with a Japanese bank to sell its aircraft leasing division for $7.3bn (£4.7bn). The bank said the sale of RBS Aviation Capital to Sumitomo Mitsui Banking Corporation would strengthen its Tier 1 capital position and the proceeds would be used to reduce wholesale funding requirements and fund ongoing lending.Life assurance group Resolution wasn't far behind after UBS upgraded the stock from neutral to buy, saying "Valuation multiples are not generally demanding and the [UK life and non-life insurance] sector offers an attractive alternative to the banks with limited exposure to the euro area." Rio Tinto, the Anglo-Australian mining firm, was next in line after seeing fourth quarter production continue to bounce back after output was hit by severe weather conditions in the first half of the year. Fourth quarter iron ore production hit a new quarterly high of 65m tonnes.Essar Energy was leading the decline on the same day that its Indian oil subsidiary, Essar Oil, made headlines concerning a tax issue with the Gujarat government.Iconic British luxury brand Burberry was out of favour after seeing underlying revenue growth slow down from 30% in the first half to 21% in the third quarter.BCFTSE 100 - RisersRoyal Bank of Scotland Group (RBS) 25.33p +3.73%Resolution Ltd. (RSL) 268.90p +2.63%Rio Tinto (RIO) 3,678.50p +2.49%InterContinental Hotels Group (IHG) 1,250.00p +2.46%Intertek Group (ITRK) 2,129.00p +2.11%GKN (GKN) 206.90p +2.07%British Land Co (BLND) 476.30p +1.99%Kingfisher (KGF) 251.30p +1.95%Tullow Oil (TLW) 1,455.00p +1.89%Evraz (EVR) 407.40p +1.88%FTSE 100 - FallersEssar Energy (ESSR) 164.40p -4.64%Capita (CPI) 635.00p -1.93%Morrison (Wm) Supermarkets (MRW) 283.70p -1.56%RSA Insurance Group (RSA) 108.20p -1.55%SABMiller (SAB) 2,300.00p -1.16%Petrofac Ltd. (PFC) 1,531.00p -1.10%British Sky Broadcasting Group (BSY) 676.50p -1.02%Bunzl (BNZL) 872.00p -0.91%ICAP (IAP) 328.50p -0.88%Tate & Lyle (TATE) 691.00p -0.86%