FTSE 100 movers: Tesco marked down by analysts

26th Feb 2014 14:35

Engineering solutions provider Weir soared to the top of the risers today after it posted an in-line set of full-year results, as a positive performance by the Minerals division helped to offset an otherwise "challenging" year for the group. Looking ahead, the company believes it will return to underlying growth in the current year. GKN moved back into positive territory after falling sharply on Tuesday after the group reported a flat full-year performance in Europe, while both Japanese and Indian production fell 4%. IAG climbed after Goodbody Stockbrokers reiterated its 'buy' rating on the stock. Software designer CSR climbed on the news it is to return £50m this year to shareholders as it increased 2013 revenues by a better-than-expected 9.3% to $722m. Leading the downside was easyJet, which fell after the stock went ex-dividend.Tesco shares were firmly lower after Jefferies reduced its target price from 440p to 375p, Nomura cut its target price from 350p to 310p, and Oriel Securities downgraded the stock from 'add' to 'hold' after the troubled supermarket chain launched £200m of price cuts and said it was stepping up its store revamp programme. Sector peers Morrison Supermarkets and Sainsbury were also both firmly in the red. ITV was lower despite a strong set of full-year results, which saw it boost its dividend and announce an additional special pay-out to shareholders. The fall is being attributed to the broadcaster's announcement it does not plan to make a bid for Channel 5, currently owned by Northern & Shell. FTSE 100 - RisersWeir Group (WEIR) 2,521.00p +7.19%Wolseley (WOS) 3,438.00p +1.27%Imperial Tobacco Group (IMT) 2,437.00p +1.08%International Consolidated Airlines Group SA (CDI) (IAG) 456.00p +0.95%SABMiller (SAB) 2,890.50p +0.75%Sage Group (SGE) 438.70p +0.73%GlaxoSmithKline (GSK) 1,685.00p +0.63%ARM Holdings (ARM) 981.50p +0.62%GKN (GKN) 413.00p +0.56%BG Group (BG.) 1,103.50p +0.55%FTSE 100 - FallerseasyJet (EZJ) 1,686.00p -4.80%Tesco (TSCO) 323.00p -3.64%ITV (ITV) 199.90p -3.01%Admiral Group (ADM) 1,450.00p -2.75%Rolls-Royce Holdings (RR.) 958.00p -2.15%CRH (CRH) 1,752.00p -2.01%Barclays (BARC) 253.00p -1.90%Persimmon (PSN) 1,437.00p -1.78%Morrison (Wm) Supermarkets (MRW) 235.60p -1.67%Reed Elsevier (REL) 909.00p -1.57%NR