|CATEGORY: RISERS AND FALLERS SECTOR: TRAVEL & LEISURE
Thu 31 May 2012
LONDON (SHARECAST) - Holiday Inn and Crowne Plaza owner InterContinental Hotels Group (IHG) climbed to the top spot on the back of M&A speculation, with analyst at Numis earlier this week speculating about a possible tie-up with sector peer Marriott. More fuel was added to the rumours today after activist investor Nelson Peltz declared a 4.27 per cent stake in IHG held through Trian Fund Management; Peltz is known to build interests in companies to push through change (he is said to have been instrumental in the Cadbury-Schweppes demerger).
Oil stocks were tracking crude prices higher this morning with BG Group, Tullow Oil and Royal Dutch Shell on the rise.
Meanwhile, insurance group Admiral was a heavy faller after the Office of Fair Trading said it would refer the private motor insurance market to the Competition Commission, "after it found evidence that insurers compete in a dysfunctional way that may push up premiums for drivers by £225m a year."
FTSE 100 - Risers
InterContinental Hotels Group (IHG) 1,523.00p +5.91%
Sage Group (SGE) 258.10p +2.99%
BG Group (BG.) 1,251.50p +2.25%
Man Group (EMG) 73.10p +1.95%
Tesco (TSCO) 302.05p +1.68%
Kingfisher (KGF) 280.80p +1.63%
Randgold Resources Ltd. (RRS) 5,180.00p +1.47%
SABMiller (SAB) 2,390.00p +1.44%
British American Tobacco (BATS) 3,044.50p +1.40%
Fresnillo (FRES) 1,325.00p +1.38%
FTSE 100 - Fallers
ITV (ITV) 72.55p -6.14%
Admiral Group (ADM) 1,056.00p -5.63%
Shire Plc (SHP) 1,832.00p -1.56%
Smiths Group (SMIN) 999.50p -1.53%
CRH (CRH) 1,105.00p -1.43%
Antofagasta (ANTO) 1,004.00p -1.28%
Eurasian Natural Resources Corp. (ENRC) 429.20p -1.24%
Burberry Group (BRBY) 1,392.00p -1.21%
ICAP (IAP) 340.20p -1.16%
Weir Group (WEIR) 1,572.00p -1.13%
|InterContinental Hotels Group
|Royal Dutch Shell 'A'
|Oil & Gas Producers
|Travel & Leisure