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FTSE 100 movers: RSA buoyed by bid talk
Mon, 01 Dec, 2008
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FTSE 100 movers: RSA buoyed by bid talk
Fri, 5 Sep 2008, 11:25:00
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Related Market Prices
Name
Value
Percent
Change
RSA Insurance Group
142.00p
-7.19%
Johnson Matthey
806.50p
-6.82%
Sainsbury (J)
279.25p
-2.70%
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Bid talk has surrounded insurer <b>RSA</b> all week and refuses to die down with rumours that German giant Allianz mooted as a likely bidder.<br /><br />RSA and Allianz both declined to comment both traders said the talk was of a bid at 225p per share for RSA.<br /><br /><b>J Sainsbury</b> was under pressure after Deutsche Bank downgraded its rating on the supermarket operator to 'sell' from 'hold' with a target price reduced to 310p from 335p.<br /><br />"We believe that the business will be increasingly competitively hampered by a lack of ability to aggressively cut costs without impacting the customer proposition," the broker said. Deutsche also sees "limited P&L flexibility because of weakening underlying sales growth and the cost of accelerating new space growth."<br /><br />Elsewhere, platinum and copper specialists were under the cosh as prices of both metals fell. <b>Johnson Matthey</b> fared the worse.<br /><br /><b>FTSE 100 - Risers</b><br />RSA Insurance Group (RSA) 165.50p +4.55%<br />Cadbury (CBRY) 640.00p +2.89%<br />BG Group (BG.) 1,073.00p +1.71%<br />Hammerson (HMSO) 925.00p +1.70%<br />Cairn Energy (CNE) 2,583.00p +1.29%<br />Unilever (ULVR) 1,601.00p +1.27%<br />BP (BP.) 511.75p +1.24%<br />John Wood Group (WG.) 412.25p +0.92%<br /><br /><b>FTSE 100 - Fallers</b><br />Johnson Matthey (JMAT) 1,464.00p -7.05%<br />Ferrexpo (FXPO) 185.10p -6.52%<br />Eurasian Natural Resources (ENRC) 826.50p -5.22%<br />Amec (AMEC) 761.50p -3.79%<br />Experian Group (EXPN) 392.75p -3.68%<br />Barclays (BARC) 318.25p -3.34%<br />Sainsbury (J) (SBRY) 336.00p -3.31%<br />Vodafone Group (VOD) 133.35p -3.30%<br />
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