FTSE 100 movers: Smiths Group drops after results miss forecasts

17th Sep 2014 14:32

Engineer Smiths Group was leading the fallers on the FTSE 100 on Wednesday after missing expectations with a 5% fall in annual revenues to £2.95bn on the back of foreign exchange headwinds and a small disposal. Analysts at Deutsche Bank had expected a figure closer to £3.05bn.Beverage groups SABMiller and Diageo were pulling back after strong gains earlier in the week as M&A chatter involving a possible AB InBev takeover of SABMiller gave the sector a boost. Other consumer-goods stocks such as Unilever and Reckitt Benckiser were also in the red.A number of financials were on the rise including St James's Place, Lloyds and London Stock Exchange.Housebuilders Barratt Developments and Persimmon were in demand after minutes of the latest Bank of England policy meeting revealed that risks to the economic outlook had increased, according to committee members.Analysts mostly viewed the minutes as dovish, saying that policymakers are likely to put off hiking interest rates until next year as a result of falling inflation and subdued wage growth.Mining peers Anglo American, Glencore and Rio Tinto were making gains after Chinese policymakers injected funds into the nation's largest banks to boost liquidity. However, copper producer Antofagasta was bucking the trend after going ex-dividend. FTSE 100 - RisersBarratt Developments (BDEV) 393.50p +3.47%Royal Mail (RMG) 425.90p +2.63%Intu Properties (INTU) 344.00p +2.38%ARM Holdings (ARM) 941.50p +2.34%International Consolidated Airlines Group SA (CDI) (IAG) 374.80p +2.21%St James's Place (STJ) 693.00p +2.21%Persimmon (PSN) 1,357.00p +1.88%Lloyds Banking Group (LLOY) 74.84p +1.82%Mondi (MNDI) 1,092.00p +1.58%London Stock Exchange Group (LSE) 1,865.00p +1.58%FTSE 100 - FallersSmiths Group (SMIN) 1,271.00p -5.78%Smith & Nephew (SN.) 1,045.00p -2.25%Unilever (ULVR) 2,625.00p -2.20%Reckitt Benckiser Group (RB.) 5,400.00p -1.73%SABMiller (SAB) 3,602.00p -1.61%Aggreko (AGK) 1,593.00p -1.42%Admiral Group (ADM) 1,221.00p -1.29%Antofagasta (ANTO) 753.50p -1.12%Fresnillo (FRES) 803.00p -1.11%Diageo (DGE) 1,827.00p -1.08%