FTSE 100 movers: ITV gains while Weir takes a hit

9th May 2012 15:14

Terrestrial broadcaster ITV was performing well after saying that its first-half net advertising revenues will be ahead of the market, thanks to an expected boost from the Euro 2012 football tournament. Revenues at Broadcasting & Online edged up a mere 1% to £440m in the first three months of 2012 from £436m the year before, but ITV Studios' performance had a lot more pep, with its revenues surging 61% to £212m from £132m. After disappointing trading updates recently from supermarket colossi Tesco and Morrisons the market could taste the difference in Sainsbury's figures, which did not disappoint. Sending the share price higher, underlying profit before tax in the 52 weeks to March 17th was up 7.1% to £712m from £665m the year before, pretty much in line with market expectations. Meanwhile, engineering giant Weir Group was heading firmly in the other direction after it said that it has experienced a plunge in orders in its oil and gas division. Order input fell 26% on a like-for-like basis in the company's oil and gas division, which the firm put down to rapid changes in the pressure pumping market. ?Business software group Sage was also a heavy faller after saying that a strategic switch to subscription revenues, plus difficulties in Europe, have constrained growth in the six months to the end of March. ?Ex-dividend stocks were also limiting gains for the Footsie today. Aberdeen Asset Management, Randgold Resources, G4S and Rexam were all trading without the right to their latest dividends. FTSE 100 - RisersITV (ITV) 83.30p +3.16%Glencore International (GLEN) 396.90p +1.25%Sainsbury (J) (SBRY) 304.70p +1.13%BT Group (BT.A) 216.50p +0.93%Vedanta Resources (VED) 1,067.00p +0.76%Burberry Group (BRBY) 1,436.00p +0.63%Compass Group (CPG) 630.00p +0.40%Centrica (CNA) 310.10p +0.32%Kingfisher (KGF) 281.90p +0.28%Xstrata (XTA) 1,092.00p +0.28%FTSE 100 - FallersWeir Group (WEIR) 1,507.00p -5.58%Sage Group (SGE) 262.90p -5.50%Polymetal International (POLY) 764.00p -5.27%Royal Bank of Scotland Group (RBS) 22.23p -5.24%Tullow Oil (TLW) 1,442.00p -4.94%Fresnillo (FRES) 1,328.00p -4.73%Aberdeen Asset Management (ADN) 257.50p -4.45%Schroders (SDR) 1,270.00p -4.08%Lloyds Banking Group (LLOY) 29.84p -3.96%G4S (GFS) 259.60p -3.74%NR