Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1708
    +0.0014 (+0.12%)
     
  • GBP/USD

    1.2622
    +0.0000 (+0.00%)
     
  • Bitcoin GBP

    55,807.06
    +147.24 (+0.26%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

FTSE 100 Movers: SABMiller rises on offer speculation; Glencore hammered

LONDON (ShareCast) - (ShareCast News) - The FTSE 100 was trading 96.88 points or 1.59% lower at 6,012.13 by mid-afternoon on Monday. SABMiller (Xetra: BRW1.DE - news) fought the trend and rose on the back of news on Sunday that an offer for the brewing giant could be tabled by AB InBev much sooner than originally anticipated.

The Sunday Times reported a first bid could possibly be submitted as early as Monday.

Talks between the two brewing giants are said to have been warming up and carried on over the weekend.

While SABMiller is taking a tough stance on price, it is no longer believed to be opposed to a deal, the Sunday Times reported.

ADVERTISEMENT

Broadcaster and internet provider Sky (LSE: BSY.L - news) is looking up, but Vodafone slumped after news that the telecommunications group is no longer in discussions with Liberty Global (NasdaqGS: LBTYA - news) regarding a possible exchange of selected assets between the two companies.

Vodafone confirmed in June that it was in the early stages of discussions with Liberty, which is controlled by US billionaire John Malone, about the possible combination of their mobile and cable network in European markets in order to better compete with rivals.

Glencore (Xetra: A1JAGV - news) shares tumbled nearly 30% after Investec (LSE: INVP.L - news) warned the stock holds little value for shareholders.

"The challenging environment for mining companies leads us to the question of how much value will be left for equity holders if commodity prices do not improve," the brokerage said.

It (Other OTC: ITGL - news) said if major commodity prices remain at current levels, its analysis implies that, in the absence of substantial restructuring, nearly all the equity value of Glencore and Anglo American (LSE: AAL.L - news) could evaporate.

Elsewhere, Bernstein upgraded BAE Systems (LSE: BA.L - news) to 'outperform' from 'market perform', with an unchanged price target of 545p. It said the recent pullback in BAE's share price has widened the valuation gap compared to US peers considerably, without any corresponding deterioration of fundamentals.

"Our rating is based primarily on improved performance expectations in international defence growth and an increased margin of safety in the current share price," it concluded. FTSE 100 - Risers SABMiller (Amsterdam: MI8.AS - news) (SAB) 3,680.50p +2.58% ITV (ITV (LSE: ITV.L - news) ) 252.30p +1.65% Sky (Amsterdam: BK8.AS - news) (SKY) 1,051.00p +1.64% Barratt Developments (LSE: BDEV.L - news) (BDEV) 672.00p +1.43% BAE Systems (BA.) 444.90p +1.11% Berkeley Group Holdings (The) (BKG) 3,492.00p +0.92% Associated British Foods (LSE: ABF.L - news) (ABF) 3,266.00p +0.77% National Grid (LSE: NG.L - news) (NG.) 897.70p +0.76% Wolseley (EUREX: WLYH.EX - news) (WOS) 4,258.00p +0.73% Hikma Pharmaceuticals (LSE: HIK.L - news) (HIK) 2,483.00p +0.73% FTSE 100 - Fallers Glencore (Amsterdam: GX8.AS - news) (GLEN) 68.81p -29.22% Anglo American (AAL) 561.70p -8.62% Standard Chartered (BSE: 580001.BO - news) (STAN) 622.90p -5.65% BHP Billiton (NYSE: BBL - news) (BLT) 968.10p -5.64% Rio Tinto (LSE: RIO.L - news) (RIO) 2,107.50p -4.94% Antofagasta (LSE: ANTO.L - news) (ANTO) 483.00p -4.55% Vodafone Group (NasdaqGS: VOD - news) (VOD) 209.80p -3.61% Royal Bank of Scotland Group (RBS (LSE: RBS.L - news) ) 308.60p -3.26% Barclays (Swiss: BARC.SW - news) (BARC) 246.70p -3.24% Fresnillo (Amsterdam: FN6.AS - news) (FRES) 598.50p -3.23%