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FTSE 100 movers: Rolls-Royce surges on new management, Tesco hit by worst losses in 97 years

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LONDON (ShareCast) - Engine maker Rolls-Royce topped the risers after chief executive John Rishton announced plans to retire this summer. He will be succeeded by former ARM Holdings (LSE: ARM.L - news) boss Warren East. UK timber and builders merchant Travis Perkins (LSE: TPK.L - news) also gained after saying group sales were up 7.2% in the first quarter despite strong comparators with last year.

Tesco (Xetra: 852647 - news) dipped after early morning gains as the market began to digest the grocer's worst annual loss in its 97-year history, with the stock dipping by midday. Chief executive Dave Lewis said that the market was "still challenging" though the supermarket did see like-for-like sales trends improving in the fourth quarter.

Hargreaves Lansdown (LSE: HL.L - news) was in the red after being downgraded to 'hold' by analysts at Jefferies.

Standard Chartered (Other OTC: SCBFF - news) was also trading lower after Credit Suisse (NYSE: CS - news) lowered its target price from 880p to 850p and kept an 'underperform' rating on the stock, saying the company is "prioritising building capital by holding back growth, but we think that gives up future earnings".

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In contrast, BT Group (LSE: BT-A.L - news) was dialling the right numbers with investors after Nomura lifted its target price on the stock from 520p to 550p and kept a 'buy' rating, applauding its recent purchase of mobile network EE.

Risers Rolls-Royce Holdings (RR.) 1,041.00p +3.38% Travis Perkins (TPK) 2,070.00p +2.53% Hikma Pharmaceuticals (LSE: HIK.L - news) (HIK) 2,136.00p +1.86% Associated British Foods (LSE: ABF.L - news) (ABF) 2,740.00p +1.03% Rio Tinto (Xetra: 855018 - news) (RIO) 2,833.00p +0.75% Capita (CPI (Other OTC: CPICQ - news) ) 1,123.00p +0.63% Aggreko (EUREX: AGKF.EX - news) (AGK) 1,670.00p +0.60% BT Group (BT.A) 459.10p +0.49% Sage Group (LSE: SGE.L - news) (SGE) 480.90p +0.46% BHP Billiton (NYSE: BBL - news) (BLT) 1,469.50p +0.44% Fallers Tesco (TSCO) 222.95p -5.03% Hargreaves Lansdown (HL (Shenzhen: 002105.SZ - news) .) 1,183.00p -4.13% Sainsbury (J) (SBRY) 262.30p -3.99% Morrison (Wm) Supermarkets (MRW) 191.30p -3.63% Sports Direct International (LSE: SPD.L - news) (SPD) 632.50p -3.14% Ashtead Group (LSE: AHT.L - news) (AHT) 1,131.00p -2.75% Babcock International Group (BAB (Other OTC: BABB - news) ) 1,012.00p -2.69% Mondi (MNDI) 1,344.00p -2.18% Standard Chartered (STAN) 1,042.00p -2.16% GlaxoSmithKline (Hanover: GS7.HA - news) (GSK) 1,541.50p -2.13%