FTSE 100 movers: GKN on top as target price lifted, travel stocks gain as oil prices fall

Engineer GKN was given a boost by Credit Suisse which lifted its target price on the stock from 380p to 410p and reiterated an ‘outperform’ rating. The broker said: "Despite automotive accounting for around 59% of 2015 estimated group revenue, investor attention is often focused on the aerospace division. However, we are of the view that automotive and in particular Powertrain/Drivetrain applications offer potential to deliver upside surprise to group earnings consensus estimates, particularly in 2016".

Oil companies were hit a 5.4% drop in the price of Brent crude to $47.42 a barrel,with Weir Group, BG Group and BHP Billiton all trading firmly in the red.

In contrast, the lower oil price was helping stocks in the travel sector. Carnival, the world's largest cruise was one of the biggest risers after announcing that fuel prices fell 15.5% in the fourth quarter.

British Gas owner Centrica lost ground as the company continued to deal with power cuts caused by Scotland’s weekend storms.

Centrica also fell under pressure as Labour Leader Ed Miliband said he would try to introduce a law enabling energy regulators to force companies to cut prices when wholesale costs declines. The comments also saw SSE take a hit.

Risers

GKN (GKN) 346.60p +2.61%

Carnival (CCL) 3,078.00p +2.06%

ARM Holdings (ARM) 998.50p +2.04%

G4S (GFS) 277.00p +1.88%

Compass Group (CPG) 1,098.00p +1.57%

WPP (WPP) 1,379.00p +1.55%

AstraZeneca (AZN) 4,656.00p +1.50%

Direct Line Insurance Group (DLG) 303.60p +1.47%

Mondi (MNDI) 1,064.00p +1.43%

Unilever (ULVR) 2,663.00p +1.41%

Fallers

Weir Group (WEIR) 1,703.00p -3.62%

SSE (SSE) 1,538.00p -3.57%

Antofagasta (ANTO) 729.00p -2.80%

Standard Chartered (STAN) 920.40p -2.61%

Rio Tinto (RIO) 2,909.00p -2.55%

Centrica (CNA) 262.00p -2.53%

BHP Billiton (BLT) 1,345.50p -2.22%

BG Group (BG.) 812.70p -2.10%

Glencore (GLEN) 281.00p -1.82%

Barratt Developments (BDEV) 424.20p -1.67%