FTSE 100 movers: Severn Trent sinks as takeover is put on the line

10th Jun 2013 14:16

Water group Severn Trent was a heavy faller on the FTSE 100 on Monday after rejecting the latest takeover proposal from international consortium LongRiver Partners at 2,200p per share. A spokesman from the consortium responded by saying that it would not make a further proposal for Severn Trent if the board does not engage in talks.Heading the other way was terrestrial broadcaster ITV after Liberum Capital speculated that the company could return up to £1.3bn to shareholders over the next three years. "ITV's structural position is better than consensus thinks," said analyst Ian Whittaker, as he hiked his target price for the stock from 155p to 200p and kept a 'buy' rating.Mining stocks were sharply lower today as a host of economic data from China painted a gloomy picture for the world's second-largest economy. In particular, export growth fell to a 10-month low in May which was weighing on the outlook for commodities demand. Vedanta Resources, Anglo American and Rio Tinto were among the worst performers.Even precious metals producer Polymetal was lower despite signing two export sales contracts with Chinese off-takers for a volume of up to 50,000 tonnes of refractory gold concentrate produced at the Mayskoye gold project. The move will allow it to start generating free cash flows at its newest mine by the third quarter, the company said.Polymetal and EVRAZ were also making headlines on the news that the Russian mining peers will both be exiting the FTSE 100 index this week after some sharp falls so far this year on the back of declining metals prices. FTSE 100 - RisersITV (ITV) 135.80p +4.95%easyJet (EZJ) 1,226.00p +2.68%Hargreaves Lansdown (HL.) 930.00p +2.31%Kingfisher (KGF) 353.80p +2.05%Weir Group (WEIR) 2,277.00p +1.88%IMI (IMI) 1,278.00p +1.75%Royal Bank of Scotland Group (RBS) 332.60p +1.59%Next (NXT) 4,671.00p +1.52%Whitbread (WTB) 2,906.00p +1.36%London Stock Exchange Group (LSE) 1,400.00p +1.30%FTSE 100 - FallersSevern Trent (SVT) 1,969.00p -4.88%Polymetal International (POLY) 645.50p -4.44%Vedanta Resources (VED) 1,202.00p -3.14%Anglo American (AAL) 1,419.50p -2.97%Smith & Nephew (SN.) 740.50p -2.37%Evraz (EVR) 124.50p -2.35%Rio Tinto (RIO) 2,744.00p -2.28%Prudential (PRU) 1,100.00p -1.61%United Utilities Group (UU.) 738.50p -1.40%Legal & General Group (LGEN) 175.60p -1.35%