FTSE 100 movers: Tesco rises on reports profit mis-guidance was limited
Travel stocks were putting in a decent performance on Monday, following recent volatile trading amid the growing Ebola crisis.
ARM Holdings
1,700.00p
17:09 02/09/16
BG Group
n/a
n/a
FTSE 100
7,895.85
16:59 19/04/24
InterContinental Hotels Group
7,816.00p
17:05 19/04/24
International Consolidated Airlines Group SA (CDI)
169.50p
16:40 19/04/24
Sainsbury (J)
258.80p
16:40 19/04/24
Shell 'A'
1,895.20p
17:05 28/01/22
Tesco
281.40p
16:59 19/04/24
TUI Travel
437.60p
16:59 11/12/14
Tullow Oil
35.88p
16:45 19/04/24
There was good news from several continents on the state of efforts to contain the outbreak, with 48 people coming off a risk list in Texas, Nigeria being declared free of the epidemic and Spanish nurse Teresa Romero testing negative for the virus.
IAG in particular was flying higher after Liberum named the stock as its top pick in the European airline industry. The broker highlighted "opportunities for the brave" across the sector after concerns about Ebola, Eurozone growth and excess capacity hammered sentiment over the past few weeks.
Supermarket group Tesco was trading in positive territory following a report in the Times which said that several private equity groups were lining up a bid for the grocery chain's Asian arm. As well, reports indicate that its "profit misguidance" - a source of worries for investors - may have been largely limited to the first half of this year. Sector peer Sainsbury moved lower after respected retail analyst Nick Bubb revived speculation about a rights issue.
Oil stocks tracked brent crude prices lower, with BG Group, Petrofac, Tullow Oil and Shell all firmly in the red. Petrofac was doubly hit following cuts to its target price from three investment banks. BG Group was also the object of criticism over the pay packet awarded to its new CEO to lure him on board.
Rolls-Royce was subdued following a 11% drop the previous session after the engine maker lowered its full-year revenue guidance. Analysts at JPMorgan Cazenove, Investec and Liberum all lowered their ratings on the stock on Monday.
Sanford C. Bernstein dragged Arm Holdings into negative territory after reiterating its 'underperform' rating on the chip maker ahead of its results, on Tuesday.
FTSE 100 - Risers
InterContinental Hotels Group (IHG) 2,233.00p +3.57%
Associated British Foods (ABF) 2,642.00p +2.84%
Tesco (TSCO) 179.50p +2.84%
Barclays (BARC) 218.15p +2.37%
TUI Travel (TT.) 345.60p +1.92%
International Consolidated Airlines Group
Land Securities Group (LAND) 1,043.00p +0.97%
Direct Line Insurance Group (DLG) 267.10p +0.94%
Fresnillo (FRES) 805.00p +0.88%
Royal Bank of Scotland Group (RBS) 347.30p +0.70%
FTSE 100 - Fallers
BG Group (BG.) 1,023.00p -3.94%
Petrofac Ltd. (PFC) 1,028.00p -3.02%
ARM Holdings (ARM) 849.00p -2.97%
Tullow Oil (TLW) 509.00p -2.86%
Kingfisher (KGF) 290.50p -2.84%
Royal Dutch Shell 'A' (RDSA) 2,092.00p -2.65%
Ashtead Group (AHT) 936.00p -2.60%
Royal Dutch Shell 'B' (RDSB) 2,185.50p -2.45%
GKN (GKN) 299.10p -2.19%
Mondi (MNDI) 970.50p -2.17%