FTSE 100 Movers: Weir tumbles more than 5%

7th Nov 2011 13:01

Weir Group, the Glasgow based engineering giant, was heading lower after warning that "downstream market conditions remain challenging". However, the firm had positive news too, saying revenues in the third quarter grew more strongly than in the first half of the year and also on a like for like basis against the same period of 2010.Essar Energy, the India-focused integrated energy company, followed suit despite reporting a 'solid' operating performance for the quarter ended 30 September, with all of its plants performing well.Total energy generated during the period rose to 1,553mWh (megawatt hours), 4% higher compared to 1,498mWh for the same period a year ago. Admiral was also heading up after Nomura said, "the stock is trading 14x 2011E earnings, which is not commensurate with +20% growth in the next three years, on our numbers" [Nomura]. Meanwhile, ICAP, the interdealer broker, is thought by some analysts to be a possible beneficiary of heightened market volatility and trading as a result of investors' angst regarding developments in Italy. FTSE 100 - RisersICAP (IAP) 361.00p +3.03%Ashmore Group (ASHM) 340.20p +1.37%International Power (IPR) 334.10p +1.24%SSE (SSE) 1,329.00p +1.14%Severn Trent (SVT) 1,560.00p +1.10%Centrica (CNA) 300.60p +0.97%Inmarsat (ISAT) 466.90p +0.82%Randgold Resources Ltd. (RRS) 7,370.00p +0.82%Schroders (SDR) 1,381.00p +0.80%Admiral Group (ADM) 1,195.00p +0.76%FTSE 100 - FallersWeir Group (WEIR) 1,822.00p -5.64%International Consolidated Airlines Group SA (IAG) 150.10p -4.33%Rexam (REX) 332.30p -3.74%IMI (IMI) 797.00p -3.10%Essar Energy (ESSR) 302.50p -3.08%Associated British Foods (ABF) 1,100.00p -2.65%Johnson Matthey (JMAT) 1,801.00p -2.33%ARM Holdings (ARM) 630.00p -2.33%Kazakhmys (KAZ) 929.00p -2.31%Smith & Nephew (SN.) 537.00p -2.19%NR