FTSE 100 movers: HBOS rallies despite mixed data

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Date: Thursday 03 Jul 2008

LONDON (ShareCast) - HBOS led the FTSE 100 upwards near the close as banks came back into favour. HBOS is now just above the 275p price of its rights issue. Royal Bank of Scotland is another gainer though messages from the economic data released today were mixed.

The latest credit conditions survey from the Bank of England suggested banks are going to reduce lending on both mortgages and to corporate borrowers in the next three months. But activity in the services sector slowed sharply in June, which may mean the Bank of England may possibly hold off raising interest rates.

Carphone Warehouse was the worst performer after downbeat comments from US broker Merrill Lynch. Supermarket chain J Sainsbury came under pressure after Goldman Sachs cautioned it could face increasing competition from Tesco as consumers tighten their belts.

FTSE 100 - Risers
HBOS (HBOS) 279.75p +7.18%
Antofagasta (ANTO) 601.00p +5.81%
Royal Bank of Scotland Group (RBS) 212.50p +4.17%
British Sky Broadcasting Group (BSY) 457.75p +3.86%
Drax Group (DRX) 768.50p +3.85%
AstraZeneca (AZN) 2,309.00p +3.40%
Imperial Tobacco Group (IMT) 1,831.00p +3.39%
Reed Elsevier (REL) 576.00p +3.32%

FTSE 100 - Fallers
Carphone Warehouse Group (CPW) 179.90p -3.69%
Sainsbury (J) (SBRY) 280.25p -3.36%
Ferrexpo (FXPO) 333.00p -2.92%
Schroders (SDR) 838.50p -2.90%
John Wood Group (WG.) 454.00p -2.42%
ICAP (IAP) 494.50p -2.27%
Man Group (EMG) 590.00p -2.24%
Lonmin (LMI) 2,810.00p -2.12%

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