FTSE 100 movers: CRH up amid Eurostoxx inclusion talks, Old Mutual down on CS downgrade

By Maryam Cockar

Date: Wednesday 17 Aug 2016

FTSE 100 movers: CRH up amid Eurostoxx inclusion talks, Old Mutual down on CS downgrade

(ShareCast News) - London's FTSE 100 index was down 0.57% to 6854.78 in afternoon trade.

CRH topped the FTSE 100 risers amid speculation it might be included in the Eurostoxx.

Housebuilders Persimmon and Barratt Developments were up. Persimmon is due to report results on 23 August and analysts predict that it should only face a modest slowdown and continue to generate cash.

Broadband providers Vodafone and BT Group were up as BT chief executive Gavin Patterson wrote to rivals, including Vodafone, saying their 'Fix Britain's Internet' campaign was misleading consumers amid calls from MPs to break up BT and Openreach.

On the downside, Admiral fell as reported profits for the first half were short of City forecasts and analysts were worried about a sharp drop in its solvency II position in the second half of the year.

Standard Chartered lost ground after HSBC downgraded it to 'hold' from 'buy' as its target price was left at 650p.

Investment bank Old Mutual was also down after Credit Suisse downgraded the stock to 'neutral' from 'outperform'.

Copper miner Antofagasta declined after rising in the previous session when it said it had reached a settlement in a long-running dispute with a local community over water supply to its mine.

Miner Rio Tinto was in the red after it announced plans to boost expenditure from the next calendar year.

Glencore was also on the back foot after it said it was in last-stage talks to sell its cobar copper mine in Australia to private equity company EMR Capital Advisors for about $400m.


CRH (CRH) 2,576.00p 2.55%
BT Group (BT.A) 398.10p 1.40%
Whitbread (WTB) 4,053.00p 1.30%
Barratt Developments (BDEV) 446.60p 1.11%
Paddy Power Betfair (PPB) 9,745.00p 0.93%
Persimmon (PSN) 1,751.00p 0.86%
Merlin Entertainments (MERL) 481.90p 0.79%
Vodafone Group (VOD) 238.10p 0.70%
Babcock International Group (BAB) 1,020.00p 0.59%
Carnival (CCL) 3,643.00p 0.55%


Admiral Group (ADM) 2,078.00p -7.81%
Antofagasta (ANTO) 543.50p -2.69%
Anglo American (AAL) 866.60p -2.63%
Old Mutual (OML) 208.20p -2.48%
Standard Chartered (STAN) 637.50p -2.39%
Glencore (GLEN) 192.55p -2.21%
Hargreaves Lansdown (HL.) 1,310.00p -2.09%
Rio Tinto (RIO) 2,439.50p -1.89%
Mediclinic International (MDC) 1,090.00p -1.80%
Hikma Pharmaceuticals (HIK) 2,275.00p -1.60%


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