|CATEGORY: RISERS AND FALLERS
Mon 21 Aug 2017
LONDON (SHARECAST) - (ShareCast News) - London's FTSE 100 was down 0.3% to 7,303.26 in afternoon trade on Monday.
Persimmon and Antofagasta were both in the black ahead of their half-year results on Tuesday.
Imperial brands was also on the front foot after RBC Capital Markets upgraded the stock to 'outperform' from 'sector perform', lifting the price target to 3,600p from 3,500p. It said the stock's 20% underperformance year-to-date means the upside implied by the average consensus price target is the highest it's seen it over the last five years, throwing up "an excellent buying opportunity".
The bank said worries about Imperial's ability to hit its medium-term target of organic revenue growth of 1-4% goes a long way in explaining its weak share performance YTD, with the US FDA announcement on 28 July providing an extra leg down.
Going the other way, Provident Financial was the biggest faller on the FTSE 100 following an article in the Sunday Times suggesting that some of the city's most powerful hedge funds have built up significant short position in the subprime lender amid speculation it is set to issue another profit warning and cut its dividend.
Shire was also weaker after it announced that chief financial officer Jeff Poulton will be leaving the pharmaceuticals group at the end of the year to take up the same role at Boston-based start-up Indigo Ag.
The company said Poulton will stay on in the role of CFO as it begins the search for his successor. He will remain on the executive committee and on the board of directors during the transition period, and will also continue to support the ongoing strategic review of the business.
Micro Focus International (MCRO) 2,232.00p 2.67%
Persimmon (PSN) 2,569.00p 1.90%
Pearson (PSON) 613.00p 1.32%
Antofagasta (ANTO) 955.50p 1.27%
Admiral Group (ADM) 1,985.00p 1.02%
International Consolidated Airlines Group SA (CDI) (IAG) 617.50p 0.98%
Anglo American (AAL) 1,292.50p 0.98%
Taylor Wimpey (TW.) 194.50p 0.88%
Imperial Brands (IMB) 3,196.50p 0.85%
Rio Tinto (RIO) 3,453.50p 0.70%
Provident Financial (PFG) 1,774.00p -4.21%
Shire Plc (SHP) 3,641.50p -3.27%
Barclays (BARC) 192.90p -1.41%
St James's Place (STJ) 1,173.00p -1.35%
British Land Company (BLND) 604.00p -1.15%
Rentokil Initial (RTO) 292.30p -1.08%
Royal Bank of Scotland Group (RBS) 254.80p -1.05%
Fresnillo (FRES) 1,517.00p -1.04%
Informa (INF) 690.00p -1.00%
Legal & General Group (LGEN) 264.60p -0.82%