Market ReportMarket Movers

Friday's movers: RBS, Lloyds, BskyB, Balfour Beatty and Carillion


UK shares were slipping in early deals, with Footsie down nearly nine points, but the big story in town was RBS (LON:RBS).

The bank was the biggest riser on FTSE100, lifting nearly 14% after it surprised the City with half year results a week early.

The statement revealed that pre-tax profits will nearly double from last year to £2.6bn (2013: £1.37bn) after a good perfcormance by its 'bad bank" division and better credit conditions.

Significantly, the operating profit is set to come in at £2.6bn, up from £708 million in the first half last year.

Also rising is fellow bank Lloyds (LON:LLOY), up 2.45%.

The biggest loser, down 2.76%, is broadcasting and media behemoth BSkyB (LON:BSY), which, it emerged, has struck a deal to pay £4.9bn cash for Rupert Murdoch's pay-TV assets in Germany and Italy.

It will stump up the funds, using cash, debt and a placing.

The consolidation of the business will, according to BSkyB, see the company positioned as the dominant force in three of the four largest pay-TV markets in Europe.

Publisher Pearson (LON:PSON) saw shares rise as there was relief the FT owner maintained estimates for the current year and raised its interim dividend by 6%.

The group has issued a string of profit warnings over the past year and there had been fears of another downgrade this time.

FTSE 250 construction group Balfour Beatty (LON:BBY) and support services Carillion (LON:CLLN) both added over 10% to their value as they revealed talks are in train about a possible merger.

After the market closed yesterday, both said a tie up had the potential to create a  business of considerable depth and scale. Balfour shares have been perorming badly recently and it sacked its chief executive two months ago. A deal could put the new entity into the FTSE 100.

To smaller fry, and Mexican specialist minerals firm Bacanora (LON:BCN) has made a premium AIM debut, trading at 100p in early deals.

This is massively from its IPO price, when it raised £4.75mln as part of the AIM float issuing 14.4mln shares priced at 33p each.

Elsewhere Cyan Holdings (LON:CYAN) shares eased. It  is raising £3.5mln of new capital to bolster the company as it continues to roll out its smart metering technology.

It is issuing 1bn new shares priced at 0.35p as well as 500mln warrants, exercisable at 0.6p.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Minotaur Exploration reveals high-grade copper shoots at Jericho JV

Minotaur Exploration Limited (ASX:MEP) managing director Andrew Woskett updates Proactive Investors on the company’s Jericho JV (OZ Minerals 80%, Minotaur 20%) copper discovery southeast of Cloncurry, northwest Queensland. Early intercepts show encouraging results, with thick and high...

4 hours, 16 minutes ago

3 min read