FTSE top movers - 21/05/2014
This content is provided by City Index. Barclays Stockbrokers is not responsible for the content or any opinions stated in this article.
The FTSE 100 closed lower yesterday (20th May) partly weighed by Vodafone, whose shares declined after the company announced its results.
In percentage terms, the index is currently broadly flat this morning at 6,797.
Petrofac, ARM Holdings, TUI Travel and Burberry are currently among the top performers on the index. Meanwhile, retailer Morrisons is among the worst performers on the index this morning.
The FTSE 100 is broadly flat, in percentage terms, this morning (21st May) at 6,797. Here’s a highlight of some of the current top and worst performers.
Currently leading the pack of top performers is Petrofac (up around 2%): the oil and gas engineer is currently up on the back of an upgrade from sell-side analysts.
Shares of Petrofac declined dramatically two weeks ago (9th May), following the company’s fiscal 2014 profit forecast, which came in below expectations.
The company cut its 2014 net profit to a range of between $580m and $600m, down from a previous target of $650m.
ARM Holdings is also up (around 1.8%): that’s also partly thanks to some positive notes from sell-side analysts, following the company’s analyst day yesterday.
This follows something of a beating on ARM shares of late, which has resulted in its stock currently trading some 16% below a peak reached in April.
TUI Travel is also up (around 1.6%): TUI’s shares have also been on the decline recently – down around 6% since last week.
The company updated the market with its half-year results last week, posting a 4% decline in underlying revenue at £5.2bn and an operating loss for the period at £298m, marking a wider loss over the £289m loss reported in the same period last week.
Also up is Burberry (around 1.3%): today, the company released its preliminary results for its full year ended 31st March.
Burberry took revenue of some £2.3bn in the period, representing a 17% increase over the same period last year. Pre-tax profit for the period came in at £444m, representing a notable 27% increase over last year.
Looking ahead, the company warned that if exchange rates remain at current levels, it would have a “material” impact on its retail and wholesale profit for 2015.
Leading the pack of worst performers is Morrisons (down around 2.8%): the retailer’s shares are currently down on the back of a “sell” recommendation from analysts at Deutsche Bank.
In the face of persistent challenges across the sector, Morrisons’ shares have been under pressure - this year alone, the company’s shares have declined around 21%.