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FTSE 100 movers: Profit-taking hits Tullow
Wed, 08 Feb, 2012
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FTSE 100 movers: Profit-taking hits Tullow
Wed, 25 Aug 2010, 14:04:00
The main movers are dominated by interim results announcements. <b>Tullow Oil</b> leads the fallers following profit-taking after it reported its interim results. Higher oil prices gave Tullow a boost in the first half of 2010, with profits almost trebled, in line with expectations. Profit after tax leapt to $89m from $31m in the first half of 2009 on sales up 11% to $486m. Production fell 6% to 55,800 barrels of oil equivalent per day (boepd). FinnCap believes that Tullow is over rated and has maintained its sell recommendation. Temporary power solutions provider <b>Aggreko</b> believes the full year outcome will be slightly better than expectations but the shares have still fallen. Pre-tax profit rose 19% to £127.1m in the six months to June 2010, while revenue increased to £583.6m compared with £499.8m last time. The interim dividend rises 50% to 6.55p a share. There were some positive reactions to results. A 14% hike in car insurance premiums and a surge in new customers helped first half profits jump by one-fifth at insurer <b>Admiral</b> despite a tough time for its price comparison subsidiary Confused.com. <b>Serco</b> is higher following predictions of strong organic revenue growth in 2010. The outsourced services provider reported in-line half year figures. Adjusted pre-tax profits rose to £110.2m in the six months to June 2010, compared with £92.3m last time. <b>FTSE 100 - Risers</b> Admiral Group (ADM) 1,517.00p +2.99% Serco Group (SRP) 575.50p +2.86% ARM Holdings (ARM) 335.20p +1.58% Centrica (CNA) 322.80p +0.65% Inmarsat (ISAT) 659.00p +0.61% Land Securities Group (LAND) 601.50p +0.59% Severn Trent (SVT) 1,294.00p +0.47% United Utilities Group (UU.) 566.00p +0.27% GlaxoSmithKline (GSK) 1,203.00p +0.25% Bunzl (BNZL) 680.50p +0.22% <b>FTSE 100 - Fallers</b> Tullow Oil (TLW) 1,200.00p -7.48% Aggreko (AGK) 1,358.00p -4.97% Petrofac Ltd. (PFC) 1,342.00p -3.59% Antofagasta (ANTO) 976.00p -3.56% Invensys (ISYS) 234.00p -3.07% Old Mutual (OML) 123.20p -2.99% TUI Travel (TT.) 195.90p -2.83% Amec (AMEC) 849.50p -2.64% Schroders (SDR) 1,332.00p -2.63% Anglo American (AAL) 2,260.50p -2.56%
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