FTSE 100 Movers: Tate and Lyle leaves sour taste

9th Feb 2012 12:41

It has been a busy day for results from FTSE 100 heavyweights and the reception for most of them was far from warm.Sweeteners manufacturer Tate & Lyle became the biggest faller among Footsie constituents after reporting a mixed performance in the third quarter, with subdued volume growth in several divisions. The firm, nevertheless, said it remains on track for a "good performance" in the full-year. JP Morgan and Jefferies have both reiterated their underperform ratings on the company´s shares. Property group British Land was also among the worst performers despite seeing occupancy, income, estimated rental value and underlying profits rise in the third quarter. Rolls-Royce was similarly out of favour despite 2011 being a record-breaking year on many fronts. The power systems developer saw underlying profit before tax rose 21%, while underlying revenue edged up 4%. Mining giant Rio Tinto also slipped after saying that full-year net earnings were held back by a massive $8.9bn impairment charge relating to its aluminium business. Nevertheless, underlying earnings rose 11% to a record $15.5bn. Shares in investment firm Hargreaves Lansdown also took a plunge, even though the firm boasted record revenue and profits in the second half of 2011 despite a sharp deterioration in investor confidence. Meanwhile, BG Group was among the risers after higher oil prices helped earnings before tax shoot up by 40% on last year in the fourth quarter. The group also gave a confident outlook for the LNG market, hiking its LNG profit guidance by 30% for 2012. Sector peers BP, Cairn Energy, Tullow Oil and Essar Energy were also in demand, buoyed by today's rise in brent crude prices. FTSE 100 - RisersLloyds Banking Group (LLOY) 36.74p +2.68%Tullow Oil (TLW) 1,518.00p +2.36%Admiral Group (ADM) 987.00p +2.33%BG Group (BG.) 1,475.00p +2.01%Amec (AMEC) 1,089.00p +1.68%ITV (ITV) 79.00p +1.67%Royal Bank of Scotland Group (RBS) 29.32p +1.66%Standard Chartered (STAN) 1,623.00p +1.63%Cairn Energy (CNE) 353.90p +1.52%Burberry Group (BRBY) 1,424.00p +1.50%FTSE 100 - FallersTate & Lyle (TATE) 671.50p -3.38%British Land Co (BLND) 491.00p -3.35%Rolls-Royce Holdings (RR.) 762.50p -2.87%Rio Tinto (RIO) 3,800.00p -1.90%International Power (IPR) 326.70p -1.89%Shire Plc (SHP) 2,138.00p -1.66%Tesco (TSCO) 324.70p -1.43%BHP Billiton (BLT) 2,100.00p -1.41%Evraz (EVR) 436.00p -1.36%Hargreaves Lansdown (HL.) 453.80p -1.35%NR