FTSE 100 movers: Travel stocks fly higher
Travel stocks were once again in positive territory as the sector recovered from a recent poor performance amid mounting concerns about the Ebola crisis.
ARM Holdings
1,700.00p
17:09 02/09/16
FTSE 100
8,072.59
11:55 23/04/24
GKN
482.40p
17:00 18/05/18
GSK
1,649.50p
11:55 23/04/24
Hargreaves Lansdown
755.60p
11:50 23/04/24
Old Mutual
210.90p
16:55 22/06/18
Reckitt Benckiser Group
4,290.00p
11:55 23/04/24
Rolls-Royce Holdings
412.00p
11:55 23/04/24
TUI Travel
437.60p
16:59 11/12/14
Tullow Oil
35.46p
11:49 23/04/24
A report from Reuters claiming the European Central Bank is considering the possibility of buying corporate bonds on the secondary market, potentially as soon as next year, in a bid to breathe life into the Eurozone economy, helped drive markets higher. Old Mutual, Hargreaves Landsdown and a number of other financial stocks were lifted by the news.
Aerospace and automotive engineer GKN reported higher third quarter profit but forecast lower growth for the rest of the year, particularly in automotive markets, and said the strong pound would hit results, although the group "continues to expect 2014 overall to show another year of progress." GKN said demand in its main markets had been broadly consistent with its expectations when it unveiled half year results.
British American Tobacco was modestly higher ahead of its interim management statement, while Glaxosmithkline dropped ahead of its third quarter results.
The downside was led by microprocessor group Arm Holdings after it reported third-quarter revenues just short of the consensus forecast. The company, which designs chips for smartphones and tablets, said dollar revenues in the three months to 30 September were $320.2m, up 12% on last year. Analysts had penciled in group revenue closer to $326.3m.
Reckitt Benckiser declined after the consumer-goods giant missed analysts' estimates slightly in its third quarter on the back of continuing currency headwinds and "tougher markets".
Whitbread was out of favour after the leisure group, which owns the Costa and Premier Inn chains, underwhelmed with its seemingly impressive half-year results but flagged tough comparatives in the second half.
Rolls-Royce continued to decline after the engine maker last week lowered its full-year revenue guidance from flat to 3.5-4% lower.
FTSE 100 - Risers
TUI Travel (TT.) 361.70p +3.58%
Ashtead Group (AHT) 967.00p +3.26%
Tullow Oil (TLW) 525.00p +3.24%
Old Mutual (OML) 178.20p +3.18%
GKN (GKN) 311.10p +3.01%
Hargreaves Lansdown (HL.) 939.50p +2.96%
Mondi (MNDI) 1,002.00p +2.93%
WPP (WPP) 1,159.00p +2.93%
Petrofac Ltd. (PFC) 1,060.00p +2.91%
BG Group (BG.) 1,054.00p +2.88%
FTSE 100 - Fallers
ARM Holdings (ARM) 792.00p -6.99%
Reckitt Benckiser Group (RB.) 5,035.00p -1.56%
Whitbread (WTB) 4,181.00p -1.11%
Rolls-Royce Holdings (RR.) 811.00p -0.86%
GlaxoSmithKline (GSK) 1,328.50p -0.78%
United Utilities Group (UU.) 818.50p -0.73%
Imperial Tobacco Group (IMT) 2,537.00p -0.39%
British Sky Broadcasting Group (BSY) 851.50p -0.35%