FTSE 100 movers: Shell in confident mood; SABMiller plunges as informal offer rejected

Royal Dutch Shell climbed on the back of the company’s chief executive speech at the Oil and Money conference in London. He told attendees that the oil company is doing everything it can and “pulling out all the stops” to safeguard its dividends and buy-back programme, and to keep its investment programme steady for the future.

WM Morrison Supermarkets also slowly rose throughout the morning and led the market ahead of Wednesday’s first half results from rival Tesco.

As the company looks for a takeover offer from AB InBev, SABMiller dropped on the back of positive results dented by fluctuations in the US dollar. On top of that, Bloomberg reported late in the morning session that the company rejected an informal takeover offer which it deemed too low.

And Glencore’s dream recovery run may be over. After several straight days of rising, the mining company dropped as investors and analysts struggled to put a valuation on the company’s value.

FTSE 100 - Risers

Morrison (Wm) Supermarkets (MRW) 172.80p +2.73%

International Consolidated Airlines Group SA (CDI) (IAG) 595.00p +1.80%

Burberry Group (BRBY) 1,430.00p +1.71%

Royal Dutch Shell 'B' (RDSB) 1,734.00p +1.64%

Royal Dutch Shell 'A' (RDSA) 1,717.00p +1.63%

Imperial Tobacco Group (IMT) 3,431.00p +1.60%

InterContinental Hotels Group (IHG) 2,418.00p +1.60%

Coca-Cola HBC AG (CDI) (CCH) 1,457.00p +1.53%

Whitbread (WTB) 4,821.00p +1.52%

Carnival (CCL) 3,490.00p +1.45%

FTSE 100 - Fallers

SABMiller (SAB) 3,636.50p -3.39%

Hikma Pharmaceuticals (HIK) 2,306.00p -2.49%

Glencore (GLEN) 112.50p -2.17%

ARM Holdings (ARM) 948.00p -1.56%

Aviva (AV.) 469.30p -1.37%

Shire Plc (SHP) 4,547.00p -1.24%

Dixons Carphone (DC.) 442.00p -1.16%

Centrica (CNA) 227.70p -1.00%

Antofagasta (ANTO) 533.50p -0.74%

Legal & General Group (LGEN) 248.70p -0.72%