FTSE 100 movers: Broker boost for Carphone

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Date: Monday 07 Jul 2008

LONDON (ShareCast) - With little news today, it is broker comment that is generating most activity. Carphone Warehouse still leads the index after Goldman Sachs re-initiated coverage of the mobile phone retailer with a ‘buy’ rating.

Broker coverage also lifts Amec. Citigroup lifted its rating on the oil services group to ‘buy’ from ‘hold’, saying it sees management targets as too cautious.

Marks and Spencer falls again after JP Morgan cut its price target on the clothes and food retailer to 200p from 345p and kept its ‘underweight’ rating. Boss Stuart Rose also faces a difficult week with one in four shareholders expected to abstain or vote against his election as executive chairman.

FTSE 100 - Risers
Carphone Warehouse Group (CPW) 188.40p +5.25%
Invensys (ISYS) 248.50p +3.43%
Rolls-Royce Group (RR.) 335.25p +3.00%
BG Group (BG.) 1,225.00p +2.85%
British Airways (BAY) 202.50p +2.79%
Amec (AMEC) 910.00p +2.71%
FirstGroup (FGP) 513.00p +2.50%
BP (BP.) 564.00p +2.27%

FTSE 100 - Fallers
Marks & Spencer Group (MKS) 218.25p -3.85%
Royal Bank of Scotland Group (RBS) 198.70p -3.66%
Rio Tinto (RIO) 5,442.00p -2.82%
BHP Billiton (BLT) 1,721.00p -2.38%
ICAP (IAP) 459.50p -2.34%
Friends Provident (FP.) 92.40p -2.22%
Tesco (TSCO) 352.90p -1.75%
Whitbread (WTB) 1,073.00p -1.47%

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