You are here: Home - Investing -

FTSE 100: This morning’s risers and fallers

Written by:
Strong gains from Aggreko, Standard Life and Old Mutual helped the FTSE 100 higher on Tuesday morning as UK stocks rebounded after four straight days of losses.

However, Meggitt’s share price sank after the aerospace engineer reported a drop in first-half profit, while Intercontinental Hotels Group (IHG) and Fresnillo also disappointed with their interim results.

London’s Footsie was trading nearly 0.5% higher at 6,708.32 in early trading, after a 2% slump over the last four sessions.

Investors were mostly shrugging off the news that growth in China’s services sector ground to a halt in July, according to figures released by HSBC and Markit.

The ‘non-official’ China services purchasing managers’ index (PMI) dropped sharply from 53.1 to just 50 in July, meaning that the non-manufacturing sector neither grew nor contracted last month. This was the lowest reading since records began in November 2005.

After a quiet session in terms of economic data on Monday, Tuesday’s agenda is expected to pick up with PMI reading due across the Eurozone, UK and US. Eurozone retail sales and factory orders in the States will also be in focus.

Aggreko, Standard Life, Old Mutual

Temporary power and temperature control group Aggreko gained as it kept its full-year guidance after good underlying growth in the first half, though reported results were weaker due to the “significant adverse impact” from currency movements. Trading profit fell 10% but improved by 6% on an underlying basis.

Strong net inflows helped Standard Life grow assets under administration 4% to £254.1bn in the first half of the year, with revenues, profits and cash all increasing, pushing the stock higher early on.

Financial services group Old Mutual was also performing well after its majority-owned South African subsidiary Nedbank increased first-half earnings by 17.5% to 4.6bn rand (£256m).

However, shares in Meggitt dropped sharply after it said profits fell 20% in the first half, reflecting the impact of currency headwinds and disposals on revenue.

IHG was firmly lower after missing forecasts in the first half. The hotels group gave an upbeat outlook but said underlying operating profits rose 6% to $301m, missing the $305m consensus estimate.

Mexico-focused precious metals miner Fresnillo was also under pressure after profits dropped in the first half of 2014 as a result of “significantly lower” commodity prices and a sharp decline in gold production.


FTSE 100 – Risers
Aggreko (AGK) 1,785.00p +3.72%
Weir Group (WEIR) 2,597.00p +2.85%
Standard Life (SL.) 373.60p +2.52%
Intertek Group (ITRK) 2,760.00p +2.00%
Legal & General Group (LGEN) 236.10p +1.33%
Old Mutual (OML) 196.80p +1.29%
United Utilities Group (UU.) 869.00p +1.22%
Compass Group (CPG) 961.00p +1.21%
Associated British Foods (ABF) 2,792.00p +1.20%
SABMiller (SAB) 3,226.00p +1.14%

FTSE 100 – Fallers
Meggitt (MGGT) 467.00p -7.25%
InterContinental Hotels Group (IHG) 2,289.00p -3.21%
Royal Mail (RMG) 415.90p -1.14%
Barratt Developments (BDEV) 341.50p -0.99%
IMI (IMI) 1,403.00p -0.99%
Hammerson (HMSO) 590.50p -0.92%
Fresnillo (FRES) 935.00p -0.69%
easyJet (EZJ) 1,268.00p -0.55%
Rolls-Royce Holdings (RR.) 1,034.00p -0.48%
Barclays (BARC) 223.10p -0.38%

Source: ShareCast

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?

Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...

Is now the time to fix your energy deal?

Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...

Everything you need to know about the pension triple lock

Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts

A number of banks are luring in new student customers with cold hard cash this year – while others are compe...

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Money Tips of the Week