Date: Tuesday 14 Oct 2014
LONDON (ShareCast) - Burberry delivered double-digit underlying growth in the first half but shares in the high end fashion group slumped after the firm said that it has experienced a "more difficult external environment" with a softening in growth from Chinese consumers both home and when travelling.
Financial services group Hargreaves Lansdown disappointed despite reporting record assets under administration in the first quarter, as it said that investor confidence took a hit after the recent volatility across global markets.
Supermarket group Tesco was hit by reports that it is set to suspend further staff in relation to the recent scandal over its accounting practices.
Oil stocks were in decline, with Tullow Oil, BP, BG Group and Royal Dutch Shell all firmly in the red as they tracked oil prices lower.
On the upside, IAG flew higher thanks to an upgrade from HSBC, from 'neutral' to 'overweight'.
The mining sector climbed as stocks continued to rebound after a recent slump. Fears about a global economic slowdown have weighed heavily on equity markets over recent weeks with the mining sector bearing the brunt of the sell-off as commodity prices dropped. However, concerns about the Chinese economy - the top consumer of metals in the world - have eased this week after trade data on Monday surpassed analysts' expectations.
United Utilities was pushed higher by Morgan Stanley, which raised its target price from 865p to 875p.
FTSE 100 - Risers
International Consolidated Airlines Group SA (CDI) (IAG) 337.70p +4.20%
Johnson Matthey (JMAT) 2,865.00p +3.99%
ARM Holdings (ARM) 846.50p +2.98%
Weir Group (WEIR) 2,214.00p +2.74%
Sports Direct International (SPD) 589.50p +2.52%
Rio Tinto (RIO) 3,164.00p +2.39%
Anglo American (AAL) 1,419.00p +2.23%
United Utilities Group (UU.) 825.50p +2.17%
Rolls-Royce Holdings (RR.) 957.00p +2.13%
IMI (IMI) 1,159.00p +2.11%
FTSE 100 - Fallers
Burberry Group (BRBY) 1,416.00p -4.26%
Tullow Oil (TLW) 519.50p -1.89%
BP (BP.) 424.20p -1.79%
Royal Bank of Scotland Group (RBS) 355.30p -1.44%
BG Group (BG.) 1,025.50p -1.39%
Royal Dutch Shell 'A' (RDSA) 2,163.50p -1.32%
Standard Chartered (STAN) 1,085.00p -1.32%
Royal Dutch Shell 'B' (RDSB) 2,247.00p -0.99%
Sainsbury (J) (SBRY) 226.50p -0.96%
Pearson (PSON) 1,138.00p -0.78%
Email this article to a friend
or share it with one of these popular networks:
1,055.50p
