FTSE 100 movers: Sage gets boost from Citigroup

29th Oct 2012 15:07

Sage Group was leading the risers after Citigroup upgraded the stock from neutral to buy, and raised its target price from 294p to 345p. Similarly, Deutsche Bank has today upped its price targets Hammerson to 580p from 540p, boosting the stock into the top three risers. Serco Group, the international service company, was on the up after it signed a contract for an outsourcing partnership that will provide customer contact and support services for AEGON, the Dutch life and pensions company. Analysts at Citi have downgraded their view on shares of Hargreaves Lansdown to sell from neutral, expressing its concerns for the group ahead of the up-coming retail distribution review. Old Mutual has said Nedbank Group, its majority-owned South African banking subsidiary, is on track to hit growth targets despite market conditions getting worse. Meantime, ratings agency Fitch has affirmed its view on the group´s debt, but while maintaining its outlook at negative. WPP continued to fall after Nomura on Friday reduced its target price for the advertising and media giant from 1,030p to 980p after cutting its forecasts for organic growth on the back of a slowing macro-economic environment. BT was heading lower after it was reported that the company is likely to post a decline in second quarter turnover on Thursday, after corporate spending was reportedly affected by the current difficuklt economic situation. FTSE 100 - RisersSage Group (SGE) 309.30p +1.68%ARM Holdings (ARM) 666.50p +1.52%Hammerson (HMSO) 476.50p +1.43%Meggitt (MGGT) 388.20p +1.36%IMI (IMI) 939.00p +1.08%British Land Co (BLND) 537.00p +1.03%Vedanta Resources (VED) 1,137.00p +0.89%Rolls-Royce Holdings (RR.) 861.50p +0.88%Weir Group (WEIR) 1,732.00p +0.87%Experian (EXPN) 1,074.00p +0.85%FTSE 100 - FallersHargreaves Lansdown (HL.) 725.50p -4.41%Admiral Group (ADM) 1,095.00p -1.97%Old Mutual (OML) 170.30p -1.67%BT Group (BT.A) 213.90p -1.47%BP (BP.) 425.50p -1.41%G4S (GFS) 259.90p -1.37%WPP (WPP) 789.50p -1.37%Legal & General Group (LGEN) 132.40p -1.12%RSA Insurance Group (RSA) 111.10p -1.07%Shire Plc (SHP) 1,741.00p -1.02%NR