FTSE 100 movers: Sky rockets on Comcast bid; Fresnillo loses its shine

London's FTSE 100 was up 0.2% to 7,303.07 in afternoon trade on Tuesday, with Sky the standout gainer on the back of a bid from Comcast.

Sky rocketed as US cable TV company Comcast made a £22.1bn takeover bid for the broadcaster, outbidding 21st Century Fox. Comcast has offered £12.50 per share for Sky, versus Rupert Murdoch's £10.75.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: "There may well be some reaction from 21st Century Fox. However, since the bid for Sky was launched, 21st Century Fox has agreed to sell many of its assets, including Sky, to Disney. It remains to be seen therefore what appetite Rupert Murdoch has to pursue Sky any further.

"This isn’t a done deal yet though. Sky shares are now trading 2% above the Comcast offer price, so the market clearly smells the scent of some more action before this saga draws to a close."

Housebuilder Persimmon rose sharply as it pledged to pay out double its previously promised surplus cash via bumper dividends over this and the next two years and reported profits growth and encouraging recent sales. Peers Taylor Wimpey, and Berkeley also gained.

On the downside, precious metals miner Fresnillo lost its shine as it reported a small jump in full-year profit amid record silver production, but warned that 2018 will be "challenging" as inflationary pressures increase.

Risers

Sky (SKY) 1,340.50p 21.31%
Persimmon (PSN) 2,684.00p 7.88%
Evraz (EVR) 437.50p 2.72%
ITV (ITV) 174.90p 2.01%
Ashtead Group (AHT) 2,108.26p 1.85%
Taylor Wimpey (TW.) 195.75p 1.85%
Pearson (PSON) 727.00p 1.82%
Berkeley Group Holdings (The) (BKG) 3,925.00p 1.63%
easyJet (EZJ) 1,689.50p 1.50%
Barclays (BARC) 211.15p 1.27%

Fallers

Fresnillo (FRES) 1,305.00p -2.03%
Hammerson (HMSO) 457.50p -1.78%
Associated British Foods (ABF) 2,678.00p -1.76%
British Land Company (BLND) 641.40p -1.35%
Randgold Resources Ltd. (RRS) 6,008.53p -1.34%
St James's Place (STJ) 1,130.00p -1.22%
RSA Insurance Group (RSA) 631.00p -1.22%
Unilever (ULVR) 3,786.50p -1.17%
Land Securities Group (LAND) 932.50p -1.13%
DCC (DCC) 6,740.00p -1.10%