FTSE 100 movers: C&W rings wrong tone

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On 17:12 GMT, Thursday 5 November 2009

LONDON (ShareCast) - Telecoms group Cable & Wireless was weak all day after it revived plans to split itself in to two parts.

That news accompanied interim results that were much in line with market expectations, although full-year earnings guidance for C&W International was lowered, due to weaker trading conditions in the Caribbean.

Hints during a conference call about price cuts in the pipeline may have contributed to a negative reaction to third quarter figures from Anglo-Dutch consumer goods giant Unilever (LSE: ULVR.L - news) .

Warren Ackerman of Evolution Securities said Unilever management indicated it would initiate price cuts of two or three per cent in the fourth quarter, versus a 0.2% reduction in the second quarter.

Despite there being two trading days fewer in the fourth quarter than there were in the final quarter of last year, Evolution is still expecting Unilever to deliver a 4-5% increase in volumes in the three months to end-December.

'Given a likely positive investor seminar in mid-November and lowered fourth quarter expectations, further weakness may be an interesting entry point to continue to play the medium term recovery of the stock,' the broker suggests.

FTSE 100 - Risers Amec (LSE: AMEC.L - news) (AMEC) 852.50p +3.58% Autonomy Corporation (LSE: AU.L - news) (AU.) 1,394.00p +3.34% Rentokil Initial (LSE: RTO.L - news) (RTO) 112.00p +2.94% Schroders (LSE: SDR.L - news) (SDR) 1,101.00p +2.71% Compass Group (LSE: CPG.L - news) (CPG) 403.00p +2.60% Fresnillo (LSE: FRES.L - news) (FRES) 841.00p +2.56% BT Group (LSE: BT-A.L - news) (BT.A) 136.90p +2.47% Tesco (LSE: TSCO.L - news) (TSCO) 418.70p +2.37%

FTSE 100 - Fallers Cable & Wireless (CW.) 138.90p -6.15% Whitbread (LSE: WTB.L - news) (WTB) 1,234.00p -4.27% Lloyds Banking Group (LSE: LLOY.L - news) (LLOY) 82.99p -3.82% Royal Bank of Scotland Group (RBS (LSE: RBS.L - news) ) 35.21p -3.45% Invensys (LSE: ISYS.L - news) (ISYS) 290.10p -3.11% British Airways (LSE: BAY.L - news) (BAY) 186.30p -2.87% Vedanta Resources (LSE: VED.L - news) (VED) 2,242.00p -2.10% Unilever (Amsterdam: UNIA.AS - news) (ULVR) 1,794.00p -1.91%

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