FTSE 100 movers: GKN rallies but Mediclinic drops as Spire rejects offer
London’s FTSE 100 was up 0.1% to 7,529.60 in afternoon trade on Monday.
Engineer GKN racked up strong gains following a Sunday Times report that the company is looking to split its aerospace and auto operations and as Liberum upgraded the stock to ‘hold’ from ‘sell’.
Buildings materials company CRH was in the black after getting approval from Ash Grove Cement shareholders for its $3.5bn acquisition of the US cement manufacturer.
South Africa’s Mediclinic was under pressure after FTSE 250 peer Spire Healthcare - in which it already owns a 29.9% stake - rejected a cash-and-shares offer the group.
RBS retreated as the City watchdog published an interim report into the treatment by the bank of small business clients and said it remained under investigation over some unnamed matters that could see further regulatory action.
The Financial Conduct Authority on Monday revealed some top-level details of the independent 'skilled person' report into the treatment of by RBS of small and medium-sized enterprise customers transferred to its Global Restructuring Group.
Housebuilders British Land and Hammerson were lower after the government proposed a major state housebuilding push to ease the housing crisis, with one side-effect being an end to the "cosy and golden trading climate" that large building companies currently enjoy.
Market Movers
FTSE 100 (UKX) 7,532.74 0.13%
FTSE 250 (MCX) 20,112.38 -0.17%
techMARK (TASX) 3,547.90 0.01%
FTSE 100 - Risers
GKN (GKN) 318.30p 4.91%
CRH (CRH) 2,838.00p 1.72%
Micro Focus International (MCRO) 2,500.00p 1.34%
BT Group (BT.A) 273.85p 1.11%
National Grid (NG.) 935.40p 1.04%
British American Tobacco (BATS) 4,897.00p 0.98%
Prudential (PRU) 1,884.00p 0.94%
Fresnillo (FRES) 1,379.00p 0.88%
Anglo American (AAL) 1,443.50p 0.80%
Ferguson (FERG) 5,335.00p 0.76%
FTSE 100 - Fallers
Mediclinic International (MDC) 628.00p -1.95%
Convatec Group (CTEC) 210.30p -1.91%
RSA Insurance Group (RSA) 630.50p -1.64%
British Land Company (BLND) 603.00p -1.23%
Hammerson (HMSO) 523.00p -1.13%
Royal Bank of Scotland Group (RBS) 279.30p -1.06%
Smurfit Kappa Group (SKG) 2,239.00p -0.93%
Morrison (Wm) Supermarkets (MRW) 233.10p -0.89%
Informa (INF) 684.50p -0.80%
Hargreaves Lansdown (HL.) 1,524.00p -0.78%