FTSE 100 movers: AstraZeneca rival's failure helps boost market

The FTSE 100 remained resilient after Friday night’s terrorist attacks in Paris, with the market up 3.02 points (0.05%) to 6,121.30 points mid-afternoon Monday.

AstraZeneca was the market’s biggest riser after news that the US Food and Drug Administration has asked for additional clinical data from one of its key competitors. The FDA asked for more information on the effectiveness of Clovis Oncology’s experimental lung cancer drug, rociletinib. That meant the drug’s approval could be delayed and has put the company’s progress behind rival AstraZeneca, whose similar treatment was approved last Friday.

Imperial Tobacco Group surged in early trading after Goldman Sachs reiterated its buy rating for the stock, but revised its price target down from 3,800p to 3,700p. It came less than two weeks after Credit Suisse upgraded its price target on Imperial Tobacco from 3,500p to 3,800p on the back of better-than-expected cash flow.

Taylor Wimpey also had a good start to the day after it said it expected to report a 2% rise in 2015 operating profit margin and a return on net operating assets of more than 25%. In a trading statement for the year to date, the housebuilder said it had seen an “excellent summer selling season strengthen further in the autumn period”, underpinned by rising wages and access to a wider range of mortgages.

However the market wasn’t immune from the events across the channel, with Tui AG and International Consolidated Airlines Group registering big falls in the wake of the Paris attacks. Kepler Cheuvreux noted that the consequences of the terrorist attack are negative for the entire travel and leisure sector in Europe and especially France. “The travel & leisure sector is fully based on trust and confidence; people only travel when they feel they are safe. If not, international tourism in particular can be hit hard considering that conventions, fairs or any other leisure trips can be postponed to a safer period.”

FTSE 100 - Risers

AstraZeneca (AZN) 4,255.50p 3.94%
Taylor Wimpey (TW.) 179.40p 3.22%
Imperial Tobacco Group (IMT) 3,552.00p 2.84%
Rolls-Royce Holdings (RR.) 528.00p 2.82%
ITV (ITV) 265.50p 2.12%
Randgold Resources Ltd. (RRS) 4,030.00p 2.00%
BAE Systems (BA.) 462.50p 1.96%
Royal Dutch Shell 'A' (RDSA) 1,595.00p 1.72%
BG Group (BG.) 984.30p 1.72%
BP (BP.) 370.15p 1.55%

FTSE 100 - Fallers

TUI AG Reg Shs (DI) (TUI) 1,090.00p -3.88%
International Consolidated Airlines Group SA (CDI) (IAG) 574.00p -3.12%
Carnival (CCL) 3,389.00p -2.36%
Pearson (PSON) 765.50p -2.05%
InterContinental Hotels Group (IHG) 2,462.00p -1.87%
Burberry Group (BRBY) 1,252.00p -1.26%
Merlin Entertainments (MERL) 392.10p -1.01%
Whitbread (WTB) 4,414.00p -0.85%
Royal Mail (RMG) 440.50p -0.81%
Smiths Group (SMIN) 920.50p -0.75%