FTSE 100 movers: Sainsbury plummets on first loss in decade, miners lower

6th May 2015 13:24

Sainsbury's led the fallers after swinging to its first annual loss in a decade, though results still came in ahead of analysts' expectations. The grocer reported a pre-tax of £72m for the year ended March, compared with a £898m profit previously, prompting it to slash it full-year dividend by 23.7%.Aberdeen Asset Management dipped as RBC Capital Markets cut its price target to 440p from 455p, after it revised its estimates following the company's first-half results out on Tuesday.Glencore continued lower from after revealing that first-quarter copper production dropped 9% on Tuesday, reflecting grade reductions at its South American Alumbrera and Antamina mines and a planned maintenance shutdown at its Collahuasi mine.Other mining stocks reversed from early gains, with Antofagasta and Rangold Resources both registering losses.After an early fall, software company Sage surged to the top of the risers as it revealed it's on track to meet 2015 targets, reporting a 6.2% rise in organic revenue for the first half of this year.Imperial Tobacco gained after lifting its dividend 10% as its growth brands delivered strong growth and earnings beat expectations in the first half. Adjusted earnings per share were up 4% to 93.3p.Engineering giant GKN was in demand after saying it still expects growth in 2015 as a strong automotive performance drove a 1% increase in organic sales in the first quarter.Vodafone was making decent gains after Exane BNP Paribas raised its rating on the stock to 'outperform' and lifted its target price from 220p to 270p. The broker said: "There are much better times ahead in our view. RisersSage Group (SGE) 525.50p +5.84%Imperial Tobacco Group (IMT) 3,220.00p +3.21%GlaxoSmithKline (GSK) 1,539.50p +2.60%Mondi (MNDI) 1,320.00p +2.25%St James's Place (STJ) 889.00p +2.13%Dixons Carphone (DC.) 433.30p +1.74%Vodafone Group (VOD) 231.95p +1.49%Capita (CPI) 1,176.00p +1.38%International Consolidated Airlines Group SA (CDI) (IAG) 544.00p +1.30%Shire Plc (SHP) 5,270.00p +1.25%FallersSainsbury (J) (SBRY) 263.20p -4.29%Aberdeen Asset Management (ADN) 436.50p -3.13%Antofagasta (ANTO) 787.50p -1.38%Admiral Group (ADM) 1,551.00p -1.15%Sky (SKY) 1,062.00p -1.12%Severn Trent (SVT) 2,063.00p -1.06%3i Group (III) 487.90p -1.01%London Stock Exchange Group (LSE) 2,453.00p -0.97%Meggitt (MGGT) 520.00p -0.95%Hammerson (HMSO) 652.00p -0.91%