FTSE 100 movers: RBS retreats again but Halma heads higher on acquisition

Fri 16 Nov 2018

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 100 was down 0.2% to 7,025.74 in afternoon trade on Friday as investors mulled the latest twists and turns in the Brexit saga.
UK-focused bank RBS was under the cosh again amid worries about Brexit. Analysts said that lower interest rate hike expectations along with concerns that a no-deal Brexit could bring chaos to trade are raising worries over the performance of UK banks going forward.

AstraZeneca was also on the back foot as it said that a phase 3 trial of its Imfinzi drug showed that it was no better than chemotherapy in treating patients with non-small cell lung cancer that has spread to other organs.

Russ Mould, investment director at AJ Bell, said: "Investors may remember the shares suffered a much bigger shock in July 2017 when the treatment failed in its primary objective of progression free survival; today's announcement was on the final overall survival results. Expectations were therefore already set quite low."

Royal Mail lost ground a day after its half-year results as Credit Suisse cut its price target on the stock to 301p from 339p.

Going the other way, Halma was a high riser as the safety and health technology group announced the acquisition of radar surveillance and safety solutions provider Navtech Radar for 21m in cash.

Further earn-out considerations, capped at 18m, are payable in cash, dependent on profit growth in each financial year to the end of March 2021, Halma said.

The acquisition is expected to be immediately earnings enhancing, it added.

FTSE 100 - Risers

Micro Focus International (MCRO) 1,457.00p 3.30%
Halma (HLMA) 1,338.00p 2.22%
TUI AG Reg Shs (DI) (TUI) 1,282.50p 2.07%
Rio Tinto (RIO) 3,877.00p 2.01%
Randgold Resources Ltd. (RRS) 6,419.88p 1.90%
Johnson Matthey (JMAT) 3,006.00p 1.79%
Rightmove (RMV) 438.00p 1.38%
3i Group (III) 800.00p 1.29%
GVC Holdings (GVC) 786.00p 1.16%
Experian (EXPN) 1,864.50p 1.14%

FTSE 100 - Fallers

Melrose Industries (MRO) 174.00p -4.66%
Royal Bank of Scotland Group (RBS) 215.70p -3.79%
AstraZeneca (AZN) 6,120.00p -3.12%
British American Tobacco (BATS) 2,692.50p -2.97%
Coca-Cola HBC AG (CDI) (CCH) 2,299.00p -2.42%
Sage Group (SGE) 553.20p -2.26%
Just Eat (JE.) 543.80p -2.19%
Royal Mail (RMG) 318.40p -2.15%
Prudential (PRU) 1,560.00p -2.01%
CRH (CRH) 2,152.00p -2.00%
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