FTSE 100 movers: Petrofac shares lifted by Credit Suisse upgrade
Credit Suisse drove Petrofac shares higher after upgrading the stock from 'neutral' to 'outperform', target 1,340p. However, analysts at Morgan Stanley wrote that the return of aggressive bidding by contractors as they seek more MENA work - given slowdowns elsewhere – may impact Petrofac's order intake.
Aberdeen Asset Management
317.60p
17:09 11/08/17
FTSE 100
8,122.71
14:35 26/04/24
HSBC Holdings
663.20p
14:35 26/04/24
Morrison (Wm) Supermarkets
286.40p
16:55 26/10/21
Pearson
986.80p
14:35 26/04/24
Sainsbury (J)
260.20p
14:35 26/04/24
Tesco
286.90p
14:35 26/04/24
Meanwhile, Standard Chartered and HSBC Holdings led the downside amid tense protests in Hong Kong as citizens react to controversial reforms that will allow direct elections, but only from a pool of candidates approved by Beijing.
Westhouse Securities pushed Pearson into the red after starting its coverage with a 'sell' rating and a target price of 1,001p.
Emerging markets focused asset manager Aberdeen was also in the red after Canaccord Genuity reiterated its 'hold' on stock and cut its target price from 460p to 430p. The reduction came after it saw its assets under management (AuM) rise by 3% in the two months to 31 August.
WM Morrison led the supermarkets lower after their rival and discount retailer Aldi delivered an impressive set of 2013 results.
It came as the Financial Conduct Authority revealed a former executive at Morrison has been charged with insider dealing related to trading in Ocado shares between February and May 2013.
FTSE 100 - Risers
Petrofac Ltd. (PFC) 1,041.00p +3.07%
Sports Direct International (SPD) 637.00p +2.66%
Compass Group (CPG) 978.00p +1.77%
Admiral Group (ADM) 1,275.00p +1.76%
ITV (ITV) 211.60p +1.54%
Capita (CPI) 1,168.00p +1.30%
Hargreaves Lansdown (HL.) 935.50p +1.24%
Reed Elsevier (REL) 990.50p +1.07%
Shire Plc (SHP) 5,385.00p +1.03%
Tullow Oil (TLW) 656.00p +1.00%
FTSE 100 - Fallers
HSBC Holdings (HSBA) 634.70p -2.38%
Standard Chartered (STAN) 1,152.00p -1.92%
Anglo American (AAL) 1,380.00p -1.88%
Morrison (Wm) Supermarkets (MRW) 167.90p -1.81%
Sainsbury (J) (SBRY) 245.80p -1.72%
Tesco (TSCO) 188.40p -1.64%
Marks & Spencer Group (MKS) 415.00p -1.59%
Pearson (PSON) 1,217.00p -1.30%
Rio Tinto (RIO) 3,050.00p -1.29%
Old Mutual (OML) 182.10p -1.03%