FTSE 100 Movers: Smith & Nephew, ITV lead the risers

14th Nov 2011 13:56

Medical equipment manufacturer Smith & Nephew was the high riser helped by Exane BNP Paribas which upped its recommendation on the stock from neutral to outperform.ITV, Britain's biggest private terrestrial broadcaster, was heading north after reporting a 4% rise in revenues in the nine months to the end of September compared to the same period of 2010. Net advertising revenue for the group was up 1% in the third quarter and over the last nine months the Studios division saw revenues grow by 9%. Lonmin was also on the up after Evolution Securities reiterated its add rating and 1,610p target. Vodafone, one of Britain's biggest companies, was heading in the same direction after being given a boost today after a positive assessment from the respected US business journal Barron's. The magazine argues that Vodafone is undervalued despite its sluggish performance in the last 12 months. Meanwhile, shares of Resolution are leading on the downside, possibly weighed down by what stock market losses in general mean for the value of its portfolio holdings, while numerous other financials followed suit. Standard Chartered is another notable faller, perhaps on the back of negative coverage in this past weekend's edition of the Financial Times. Banks are weak as a whole, due in part no doubt to a Goldman Sachs downgrade of Barclays.FTSE 100 - RisersSmith & Nephew (SN.) 579.00p +3.76%ITV (ITV) 66.00p +3.69%Burberry Group (BRBY) 1,403.00p +1.89%Lonmin (LMI) 1,088.00p +1.30%Vodafone Group (VOD) 181.80p +0.97%GKN (GKN) 194.50p +0.83%Royal Dutch Shell 'B' (RDSB) 2,285.50p +0.73%Admiral Group (ADM) 846.00p +0.71%BP (BP.) 460.65p +0.51%BAE Systems (BA.) 284.70p +0.49%FTSE 100 - FallersResolution Ltd. (RSL) 261.50p -3.29%Pearson (PSON) 1,111.00p -2.29%ICAP (IAP) 362.90p -2.05%Schroders (Non-Voting) (SDRC) 1,140.00p -1.98%Legal & General Group (LGEN) 105.90p -1.94%Weir Group (WEIR) 1,923.00p -1.89%Schroders (SDR) 1,367.00p -1.87%Standard Chartered (STAN) 1,377.00p -1.78%Imperial Tobacco Group (IMT) 2,305.00p -1.71%Old Mutual (OML) 109.80p -1.52%NR