FTSE 100 movers: Royal Mail surges on Whistl funding crisis

11th May 2015 13:32

Royal Mail topped the risers after rival postal firm Whistl revealed it has halted deliveries because private equity backer LDC had pulled out of funding to help expansion efforts. Whistl said it was reviewing the viability of its London, Manchester and Liverpool due to challenging market conditions, such as the rise in online shopping and a reduction in letter-sending.Property stocks extended Friday's gains, driven by the outcome of the general election. With the threat of Labour's mansion tax eliminated, planning permission was boosted, sending Taylor Wimpey, Barratt Developments and Persimmon higher.Mining stocks were buoyed by the interest rate cut in top metals consumer China, with Anglo American, BHP Billiton, Glencore and Rio Tinto all making decent gains.Centrica shares were boosted as Deutsche Bank lifted its rating from 'sell' to 'hold' on grounds that Labour's intended energy- price cap was no longer a threat. "The Conservative election victory removes a significant political risk from the UK energy retailers and Centrica in particular," the bank said.However, platinum miner Lonmin dipped after revealing plans to cut up to 3,500 jobs on predictions that metal prices will remain low for at least the short term.Aberdeen Asset Management was also in the red after analysts at Societe Generale downgraded the stock from 'buy' to 'hold'.Stock in Sage gained ground on the heels of a price target upgrade out of analysts at Goldman Sachs. RisersRoyal Mail (RMG) 501.00p +4.61%Sage Group (SGE) 561.00p +3.22%Taylor Wimpey (TW.) 180.40p +2.67%3i Group (III) 515.00p +2.49%Hikma Pharmaceuticals (HIK) 2,056.00p +2.29%Weir Group (WEIR) 1,917.00p +1.91%Hargreaves Lansdown (HL.) 1,235.00p +1.81%Babcock International Group (BAB) 1,101.00p +1.66%Royal Bank of Scotland Group (RBS) 358.20p +1.65%Dixons Carphone (DC.) 457.80p +1.62%FallersSt James's Place (STJ) 940.50p -2.29%CRH (CRH) 1,856.00p -1.85%Unilever (ULVR) 2,845.00p -1.69%Associated British Foods (ABF) 2,879.00p -1.67%Shire Plc (SHP) 5,250.00p -1.50%Mondi (MNDI) 1,327.00p -1.48%InterContinental Hotels Group (IHG) 2,784.00p -1.28%HSBC Holdings (HSBA) 634.00p -1.11%GKN (GKN) 354.40p -1.06%International Consolidated Airlines Group SA (CDI) (IAG) 566.50p -1.05%