FTSE 100 movers: Tullow Oil dives on drilling plans
Date: Wednesday 17 Apr 2013
Tullow Oil saw its shares drop significantly after its joints venture partner Northern Petroleum gave an update on one of its wells at its joint venture project in French Guiana. Following an announcement by Northern Petroleum, the company confirmed that the GM-ES-3 well, which to-date has had no significant hydrocarbon shows, will be drilled deeper in the hope that it will provide information that is crucial to developing the companies' understanding of the exploration potential of the area.
Fresnillo, Resolution, BAE Systems, BG Group, and Petrofac were all lower after going ex-dividend, meaning that new investors will not be able to get their hands on the latest dividend payments.
Tesco was also lower after posting its first decline in annual profits in two decades. The supermarket giant reported an underlying pre-tax profit of £3.5bn in the year to February 23rd 2013, a 10.7% fall from the £3.92bn the previous year.
Meanwhile, financial service company Hargreaves Lansdown said assets under administration (AuA) reached record levels in the last three months as investor confidence continued to improve. Assets under administration increased by £4.7bn in the three months to March 31st 2013 to £35.1bn.
Retailer Burberry was also a strong performer after the luxury brand delivered a rise in underlying revenue in the second half as strong growth in the Retail division continued to offset a weaker performance in Wholesale.
ARM Holdings shares were given a lift from US rival Intel, which posted a decent set of results yesterday evening.
FTSE 100 - Risers
Hargreaves Lansdown (HL.) 941.00p +4.56%
Burberry Group (BRBY) 1,315.00p +3.87%
ITV (ITV) 126.10p +1.86%
Centrica (CNA) 382.70p +1.70%
International Consolidated Airlines Group SA (CDI) (IAG) 253.50p +1.60%
Diageo (DGE) 1,988.50p +1.43%
Severn Trent (SVT) 1,760.00p +1.27%
ARM Holdings (ARM) 879.00p +1.27%
Rolls-Royce Holdings (RR.) 1,129.00p +1.26%
Admiral Group (ADM) 1,320.00p +1.23%
FTSE 100 - Fallers
Tullow Oil (TLW) 980.50p -9.21%
Fresnillo (FRES) 1,071.00p -7.75%
Resolution Ltd. (RSL) 256.80p -6.96%
Polymetal International (POLY) 708.50p -4.77%
Evraz (EVR) 158.10p -4.70%
BAE Systems (BA.) 375.90p -3.64%
BG Group (BG.) 1,040.00p -3.61%
Petrofac Ltd. (PFC) 1,296.00p -3.28%
Antofagasta (ANTO) 913.50p -3.23%
Weir Group (WEIR) 2,148.00p -2.98%
NR
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