FTSE 100 movers: ICAP leads the risers after upgrade

Date: Tuesday 12 Jun 2012

Interdealer broker ICAP was a high riser of the day after Faraday Research labelled the stock as a 'buy', saying that the Greek election this coming weekend is the catalyst "to really get things moving" - ICAP tends to benefit from increased volatility in markets. Analyst David Lowery said that while a Greek exit from the Eurozone may be back for the global economy, "it would probably be fantastic news for ICAP".

Mining stocks were mixed on Tuesday, despite the improving data from China. Precious metals peers Fresnillo and Randgold Resources were in demand, as were Anglo American and BHP Billiton, while Evraz and Polymetal were among the worst performers.

Glencore and Xstrata were making gains with the potential merger partners being boosted by positive comments from Jefferies. The broker said that certain factors have reduced the pressure on Glencore to bump up its offer for Xstrata and said that the merger on the original terms has a high probability of success.



FTSE 100 - Risers
ICAP (IAP) 346.00p +2.58%
Fresnillo (FRES) 1,428.00p +2.29%
Kazakhmys (KAZ) 705.00p +1.81%
Admiral Group (ADM) 1,094.00p +1.77%
Vedanta Resources (VED) 944.00p +1.51%
Randgold Resources Ltd. (RRS) 5,680.00p +1.43%
BHP Billiton (BLT) 1,788.00p +1.30%
Anglo American (AAL) 2,096.00p +1.28%
Unilever (ULVR) 2,064.00p +1.28%
British American Tobacco (BATS) 3,149.00p +1.22%

FTSE 100 - Fallers
Petrofac Ltd. (PFC) 1,486.00p -3.00%
Evraz (EVR) 266.10p -2.38%
Polymetal International (POLY) 790.50p -2.35%
Man Group (EMG) 74.90p -2.35%
Marks & Spencer Group (MKS) 324.50p -2.11%
Weir Group (WEIR) 1,419.00p -2.07%
Kingfisher (KGF) 273.60p -1.87%
ARM Holdings (ARM) 496.90p -1.70%
ITV (ITV) 71.15p -1.52%
Sage Group (SGE) 254.80p -1.51%

NR

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