Shares of ITV took a hit following a downgrade from Peel Hunt. The broker said that with the shares of the broadcaster having gained steadily since mid-December, the ‘upside now looking limited’.
Meanwhile, banks were leading the upside, with Barclays, HSBC, Standard Chartered and Royal Bank of Scotland all making decent gains.
Royal Bank of Scotland made the headlines after its insurance business was renamed Direct Line Group ahead of a possible initial public offering (IPO) that could well see the firm make it into the FTSE 100 as a standalone entity.
It was reported that HSBC could be expanding its branch footprint further in mainland China, according to the Financial Times.
FTSE 100 – Risers
Barclays (BARC) 242.80p +3.36%
Ashmore Group (ASHM) 404.80p +3.34%
ICAP (IAP) 376.60p +2.87%
Royal Bank of Scotland Group (RBS) 27.34p +2.59%
HSBC Holdings (HSBA) 575.40p +2.48%
Tate & Lyle (TATE) 712.00p +2.37%
Standard Chartered (STAN) 1,620.00p +2.18%
Burberry Group (BRBY) 1,454.00p +2.18%
IMI (IMI) 940.50p +1.90%
Sage Group (SGE) 305.00p +1.77%
FTSE 100 – Fallers
AstraZeneca (AZN) 2,900.50p -3.88%
Unilever (ULVR) 2,042.00p -1.83%
BP (BP.) 488.40p -1.29%
British Sky Broadcasting Group (BSY) 690.00p -1.22%
Royal Dutch Shell ‘B’ (RDSB) 2,333.50p -1.19%
Royal Dutch Shell ‘A’ (RDSA) 2,304.00p -1.18%
GlaxoSmithKline (GSK) 1,423.00p -1.18%
ITV (ITV) 77.65p -1.08%
Severn Trent (SVT) 1,525.00p -1.04%
Schroders (Non-Voting) (SDRC) 1,251.00p -1.03%
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