FTSE 100 movers: StanChart lifted by private equity sale rumours

2nd Jul 2014 15:32

Standard Chartered jumped on reports the group is intending to dispose of $500m-worth of private equity investments. Quoting two people "with knowledge of the situation", Bloomberg said the lender is expected to sell minority holdings in companies across a number of countries. The speculation comes after the group last year began reducing its private equity employee numbers by around 12% to about 100. Canaccord Genuity lifted BG Group to 'buy' from 'hold' and raised its target price from 1,250p to 1,450p.Meanwhile, Royal Mail and Burberry were heading lower after going ex-dividend. easyJet flew lower after Barclays reduced its target price from 1,900p to 1,700p.Housebuilder Persimmon said it continued to sell more houses and at higher prices with sales up 33% in the first half, although its forward sales revenue growth slowed from the first quarter, causing shares to fall.Tullow Oil also declined after reporting a decline in profits on flat revenues in its first half and said it expects an exploration write-off of $415m.Sports Direct moved lower after a whopping 40% of shareholders voted against the group's controversial bonus share scheme, that will see founder Mike Ashley awarded a bonus of £200m. However, with more than half voting in favour the resolution was passed.FTSE 100 - RisersStandard Chartered (STAN) 1,218.00p +2.10%Ashtead Group (AHT) 912.50p +2.01%Associated British Foods (ABF) 3,093.00p +2.01%Coca-Cola HBC AG (CDI) (CCH) 1,355.00p +1.27%Barclays (BARC) 218.50p +1.16%Marks & Spencer Group (MKS) 431.90p +1.15%BG Group (BG.) 1,260.00p +1.04%Compass Group (CPG) 1,040.00p +0.97%SSE (SSE) 1,597.00p +0.82%Rio Tinto (RIO) 3,228.00p +0.80%FTSE 100 - FallersRoyal Mail (RMG) 481.60p -1.95%Pearson (PSON) 1,138.00p -1.90%Rolls-Royce Holdings (RR.) 1,050.00p -1.87%British Sky Broadcasting Group (BSY) 893.00p -1.76%International Consolidated Airlines Group SA (CDI) (IAG) 366.50p -1.74%easyJet (EZJ) 1,329.00p -1.48%BAE Systems (BA.) 426.20p -1.46%CRH (CRH) 1,515.00p -1.43%Burberry Group (BRBY) 1,462.00p -1.15%Travis Perkins (TPK) 1,661.00p -1.13%NR