FTSE 100 movers: Direct Line drives ahead, Travis tumbles

Direct Line Group topped the FTSE 100 risers after posting its half year report for the six months to 30 June on Tuesday, with gross written premiums for ongoing operations 3.9% higher, driven by strong growth in motor in-force policies - up 2.5% - and a 9.5% increase in premium rates.

The firm said its combined operating ratio from ongoing operations continued to be strong at 89.6%, or 0.2pts higher, including the Flood Re levy impact of 1.6pts.

Pharma company Shire followed in second place after upgrading its earnings guidance for 2016. The company raised its expected cost saving target for its £24.17bn acquisition of Baxalta and beat forecasts for the second-quarter.

Shire said it now expected to deliver synergies from the deal of more than £528m in three years.

InterContinental Hotels rose as earnings were hit by the strong US dollar in the first half of the year, but despite the recently lowered guidance from rivals Hilton and Marriott the Holiday Inn operator remains confident in the outlook for the rest of the year.

Reported revenues of $838m for the six months to 30 June were down 8% on the previous year's and short of analyst expectations, though underlying sales, which excludes the effect of disposals and exchange rates, rose 5% to $771m. This was all largely in line with market expectations.

Travis Perkins fell as said like-for-like sales in July had been below normal levels in the wake of the UK's decision to leave the European Union as it posted a 10.7% rise in interim profits to £176m.

Revenues at the builders merchant rose by 5.8% to £31.bn, while like-for-like sales grew by 3.1%.

Barclays, Royal Bank of Scotland and Lloyds were all still lower after a poor showing in EU stress tests.

Market Movers

FTSE 100 (UKX) 6,666.44 -0.41%

FTSE 100 - Risers

Direct Line Insurance Group (DLG) 388.80p 9.49%
Shire Plc (SHP) 5,095.00p 3.45%
InterContinental Hotels Group (IHG) 3,116.00p 3.38%
Admiral Group (ADM) 2,205.00p 2.61%
Fresnillo (FRES) 1,962.00p 2.03%
Randgold Resources Ltd. (RRS) 9,020.00p 1.23%
Persimmon (PSN) 1,659.00p 1.16%
Provident Financial (PFG) 2,714.00p 1.04%
Reckitt Benckiser Group (RB.) 7,425.00p 1.01%
Unilever (ULVR) 3,569.00p 0.99%

FTSE 100 - Fallers

Barclays (BARC) 147.15p -2.81%
Royal Bank of Scotland Group (RBS) 184.00p -2.70%
Johnson Matthey (JMAT) 3,188.00p -2.60%
Travis Perkins (TPK) 1,508.00p -2.33%
BHP Billiton (BLT) 942.40p -2.17%
Intertek Group (ITRK) 3,471.00p -2.09%
Royal Dutch Shell 'A' (RDSA) 1,855.00p -1.77%
Lloyds Banking Group (LLOY) 52.32p -1.75%
Royal Dutch Shell 'B' (RDSB) 1,917.50p -1.72%
Rio Tinto (RIO) 2,444.00p -1.69%