FTSE 100 movers: Tullow Oil rebounds as real estate stocks decline

3rd Sep 2013 16:25

Real estate stocks were among the worst performers on Tuesday after some gloomy comments from Deutsche Bank, which downgraded a collection of companies under its coverage.The German bank cut ratings for UK-listed property peers Land Securities, British Land, Great Portland Estates, Intu Properties, SEGRO and Derwent London on concerns over the impending tapering of US stimulus."We find that liquidity drives the relative performance of the quoted property sector much more than short-term interest rates or bond yields," Deutsche Bank said. Meanwhile, Tullow Oil shares were rebounding one day after the company said it had plugged and abandoned its Buzio-1 exploration well offshore Mozambique after failing to encounter hydrocarbons. Hargreaves Lansdown was up on news it will take centre stage as it releases its full-year interims.According to The Sunday Times, the company's founders Stephen Lansdown and Peter Hargreaves are in line for dividend payouts totalling £40m after the investments fund broker reports its results. Analysts have pegged the final dividend at about 16p a share.FTSE 100 - RisersTullow Oil (TLW) 1,047.00p +2.85%Hargreaves Lansdown (HL.) 1,029.00p +1.38%Associated British Foods (ABF) 1,902.00p +1.28%BHP Billiton (BLT) 1,944.50p +1.22%Rio Tinto (RIO) 3,071.00p +1.19%Randgold Resources Ltd. (RRS) 5,125.00p +1.18%BG Group (BG.) 1,254.00p +1.17%Centrica (CNA) 393.40p +1.16%Imperial Tobacco Group (IMT) 2,157.00p +1.13%Antofagasta (ANTO) 895.00p +1.07%FTSE 100 - FallersVodafone Group (VOD) 203.15p -4.71%Land Securities Group (LAND) 884.00p -2.70%British Land Co (BLND) 555.00p -2.12%Pearson (PSON) 1,278.00p -1.62%William Hill (WMH) 416.00p -1.23%Carnival (CCL) 2,395.00p -1.16%Wood Group (John) (WG.) 805.50p -1.04%Standard Life (SL.) 340.00p -1.02%AstraZeneca (AZN) 3,151.00p -0.99%Compass Group (CPG) 860.50p -0.86%NR