FTSE 100 movers: Mediclinic hit by Jefferies, ITV lifted by Liberum

The FTSE 100 was down 0.12% to 7,301.65 in afternoon trading on Monday, with Mediclinic International the most significant faller.

Mediclinic was down almost 5% after analysts at Jefferies cut its share price target for the hospital operator to 650p from 550p, while it maintained its recommendation at 'underweight'. The analysts adopted a more cautious stance in response to Shire’s recent profit warning.

Anglo American also slipped during the session after Deutsche Bank downgraded its recommendation to ‘sell’ from ‘hold’ in response to strong performance in the last three months.

Banks were lower, with Lloyds down the most, followed by Standard Chartered, HSBC, Barclays and RBS, as the Bank of England called for increased capital buffers and warned that risks from rising debt are building in the UK and overseas based on overconfidence that recent benign conditions will continue.

NMC Health saw early gains reversed in the afternoon after it emerged in the morning that it announced an expansion of its Saudi Arabian operations, after receiving regulatory approval from the Kingdom for new hospitals.

Broadcaster ITV led a modest group of risers on the blue chip benchmarket after Liberum raised its advertising revenue forecasts, while it also increased the company’s target price to 33p from 320p. ITV was up over 2% in late trading.

“Our view has been that ITV’s TV advertising weakness has not been caused by a structural shift of money going to platforms such as YouTube but because of two specific sectors, FMCG (fast moving consumer goods) and traditional retailers, which is more UK specific, holding back spending," analysts wrote. “There are some signs this is reversing out. Our conversations, not just in the UK but also in the US, suggest FMCG ad spending is starting to come back. Meanwhile, the positive trading update from Next could encourage other retailers to spend into the crucial Q4.”

BP pushed higher also as oil prices increased, with Brent crude up 0.80% to $56.90.

Unilever was also marginally higher after it revealed it was acquiring Carver Korea from Bain Capital and Goldman Sachs for €2.27bn.

Market Movers

FTSE 100 (UKX) 7,304.14 -0.09%
FTSE 250 (MCX) 19,599.96 0.42%
techMARK (TASX) 3,459.58 0.47%

FTSE 100 - Risers

ITV (ITV) 169.80p 2.10%
3i Group (III) 929.00p 1.31%
Bunzl (BNZL) 2,236.00p 1.27%
BP (BP.) 472.40p 1.24%
TUI AG Reg Shs (DI) (TUI) 1,307.00p 1.24%
Convatec Group (CTEC) 270.30p 1.24%
Land Securities Group (LAND) 974.00p 1.19%
BT Group (BT.A) 286.15p 1.18%
Next (NXT) 5,200.00p 1.17%
DCC (DCC) 7,175.00p 1.13%

FTSE 100 - Fallers

Mediclinic International (MDC) 644.50p -5.29%
Anglo American (AAL) 1,297.50p -2.66%
Antofagasta (ANTO) 915.00p -2.61%
Rio Tinto (RIO) 3,446.00p -1.54%
RSA Insurance Group (RSA) 625.00p -1.50%
Prudential (PRU) 1,748.00p -1.47%
Standard Chartered (STAN) 719.50p -1.44%
Lloyds Banking Group (LLOY) 66.00p -1.36%
Rolls-Royce Holdings (RR.) 880.00p -1.35%
CRH (CRH) 2,685.00p -1.32%