FTSE 100 movers: Prudential rally; Istanbul bombings hit travel stocks
Prudential shares rallied after Barclays reiterated an ‘overweight’ rating and target price of 1609p on the stock, saying the company is its “top pick among European insurers”.
Former head of the civil service Lord Turnbull, who served as a non-executive director at Prudential for almost a decade, said on Tuesday that British-based insurers may be better off outside the EU because capital rules have damaged competitiveness and constrained the sector's ability to expand. His remarks also gave peers Aviva and Legal & General a boost.
Travel and leisure stocks declined, including TUI, IAG and easyJet, after a gun and bomb attack on Istanbul's Ataturk international airport killed 36 people.
Lloyds Banking Group shares fell as the company said it is to cut about 640 jobs and close 23 branches as part of its programme to cut costs and restructure the bank.
Shares in Dixons Carphone fell as it reported full year revenue that missed analysts’ expectations.
Market Movers
FTSE 100 (UKX) 6,276.92 2.22%
FTSE 100 - Risers
Anglo American (AAL) 687.90p 6.67%
Taylor Wimpey (TW.) 130.10p 6.64%
Persimmon (PSN) 1,425.00p 6.03%
ITV (ITV) 176.00p 6.02%
Barratt Developments (BDEV) 401.20p 5.30%
Fresnillo (FRES) 1,521.00p 4.97%
Legal & General Group (LGEN) 186.40p 4.72%
Berkeley Group Holdings (The) (BKG) 2,483.00p 4.55%
Aviva (AV.) 382.10p 4.40%
Burberry Group (BRBY) 1,148.00p 4.36%
FTSE 100 - Fallers
TUI AG Reg Shs (DI) (TUI) 853.50p -2.79%
Dixons Carphone (DC.) 334.20p -2.28%
Standard Chartered (STAN) 533.60p -1.00%
Paddy Power Betfair (PPB) 7,920.00p -0.88%
Royal Bank of Scotland Group (RBS) 172.30p -0.86%
International Consolidated Airlines Group SA (CDI) (IAG) 354.40p -0.78%
Randgold Resources Ltd. (RRS) 7,920.00p -0.56%
easyJet (EZJ) 1,063.00p -0.56%
Carnival (CCL) 3,242.00p -0.52%
Lloyds Banking Group (LLOY) 54.88p -0.13%