FTSE 100 Movers: Resolution continues on the up

1st Dec 2011 15:00

Resolution continued to rise following yesterday's news that the High Court has approved its scheme to transfer certain parts of its businesses to Friends Provident Life and Pensions Limited, the main UK life assurance company owned by the company's subsidiary, Friends Life Group.The transfer will enable the company to undertake a further £250m cash return to shareholders in 2012, subject to market conditions and regulatory approvals.Kingfisher rose after the group delivered a third quarter retail profit of £273m, up from £240m last year and £10m ahead of Investec's (and consensus) expectations. However, the broker notes a "surprising" fall in profits in Poland. The broker has reiterated its hold rating given the "undemanding valuation metrics".Power systems giant Rolls-Royce was also in the top 10 risers list having secured a $350m contract from Hawaiian Airlines to deliver Trent 700 engines to power five Airbus A330 aircraft. The aircraft, which are to be delivered from 2013 to 2015, will add to the airline's current fleet of five Trent 700-powered A330s and another 12 to be delivered. Engineers and miners are proving a drag on the index throughout the day, with IMI leading the way lower. GKN was no different, having offloaded its Aerospace Engineering Services Business in the UK and Australia to QuEST Global Services and QuEST Global Engineering for an undisclosed sum. Marks & Spencer also took a hit after Investec downgraded the stock from buy to hold. FTSE 100 - RisersResolution Ltd. (RSL) 247.70p +5.14%Standard Chartered (STAN) 1,436.00p +3.76%Fresnillo (FRES) 1,772.00p +3.38%Burberry Group (BRBY) 1,312.00p +3.31%Kingfisher (KGF) 263.10p +2.93%International Consolidated Airlines Group SA (IAG) 151.60p +2.78%Amec (AMEC) 890.00p +2.48%Intertek Group (ITRK) 1,967.00p +2.23%Imperial Tobacco Group (IMT) 2,332.00p +1.92%Rolls-Royce Group (RR.) 742.50p +1.85%FTSE 100 - FallersIMI (IMI) 771.00p -3.38%Inmarsat (ISAT) 425.30p -2.66%Lonmin (LMI) 1,044.00p -2.43%Lloyds Banking Group (LLOY) 24.26p -2.28%ICAP (IAP) 347.30p -2.25%Marks & Spencer Group (MKS) 324.80p -1.64%ITV (ITV) 63.80p -1.47%GKN (GKN) 192.20p -1.18%Pearson (PSON) 1,141.00p -1.04%Johnson Matthey (JMAT) 1,892.00p -0.99%NR