FTSE 100 movers: Sage provides a lift after acquisition

20th Jun 2012 15:30

Accountancy software behemoth Sage Group was the best performer on the blue-chip index today after acquiring a majority interest in Folhamatic Group, a provider of accounting, tax and payroll and regulatory content software in Brazil, for 125m pounds. Investec upgraded its rating on the stock today from 'sell' to 'hold' after the shares surpassed its target price. Insurance giant Aviva was on the rise after Fitch Ratings said that insurance companies are loss exposed than banks to contagion risk triggered by a Greek exit from the Eurozone "because of insurers' ability to share losses with policyholders and their lower reliance on short-term funding." Prudential, Legal & General and RSA Insurance were also making gains. Costa and Premier Inn owner Whitbread was extending its gains after its well-taken first-quarter results yesterday; total sales in the 13 weeks to May 31st were up 13.9% on the corresponding period of 2011, with LFL sales up a better-than-expected 4.5%Heading the other way were heavyweight utilities stocks Severn Trent and United Utilities after going ex-dividend; from today, investors will not have the right to their latest dividend payments. Oilfield services group Petrofac dropped despite being declared as the selected bidder on the Pánuco integrated production service contract in Mexico. FTSE 100 - RisersSage Group (SGE) 268.40p +5.88%Aviva (AV.) 278.70p +4.54%Hargreaves Lansdown (HL.) 516.00p +4.05%Whitbread (WTB) 2,042.00p +3.81%International Consolidated Airlines Group SA (CDI) (IAG) 159.70p +3.43%ITV (ITV) 76.80p +3.43%Weir Group (WEIR) 1,551.00p +3.19%Polymetal International (POLY) 935.00p +3.14%Amec (AMEC) 1,026.00p +2.65%Ashmore Group (ASHM) 350.40p +2.55%FTSE 100 - FallersSevern Trent (SVT) 1,640.00p -6.23%Petrofac Ltd. (PFC) 1,464.00p -3.17%United Utilities Group (UU.) 654.50p -2.24%Randgold Resources Ltd. (RRS) 5,940.00p -1.57%Experian (EXPN) 929.50p -0.91%Next (NXT) 3,171.00p -0.88%Unilever (ULVR) 2,062.00p -0.63%Evraz (EVR) 282.20p -0.60%Reckitt Benckiser Group (RB.) 3,377.00p -0.59%Vodafone Group (VOD) 177.50p -0.50%BC