FTSE 100 movers: ITV soars after beating 2014 forecasts, Fresnillo plunge on weak profits

ITV topped the risers after the strongest advertising performance in five years helped it beat forecasts for 2014, as it hiked its annual dividend 34% and proposed an extra payout for shareholders. Numis Securities upped its rating on the broadcaster and producer from ‘add’ to ‘buy’.

Emerging markets-focused lender Standard Chartered was trading higher despite announcing that pre-tax profits in 2014 dropped 25% to $5.2bn. Results missed analysts’ forecasts by a long way, though the market gave the report a warm welcome as the bank eased concerns by maintaining its dividend and not signalling any intention to raise capital.

Barclays rebounded from heavy falls on Tuesday, although UBS cut their price target on the stock from 305p to 295p.

Mexican precious metals producer Fresnillo was in the red after the company said profits plunged 40% to $251.1m in 2014, as record silver production was offset by lower prices and higher production costs.

Commodities trader and mining group Glencore also dropped with traders linking the fall to a placing of 53.7m shares by Deutsche Bank priced at 282.45p each, compared with Tuesday’s close of 291.2p.

Investment, insurance and savings group Legal & General was lower after annual results received a frosty reception from the market, as pre-tax profits rose a less-than-expected 9% to £922m.

Risers
ITV (ITV) 232.50p +4.82%
Standard Chartered (STAN) 1,016.50p +4.34%
Barclays (BARC) 258.70p +1.73%
Reed Elsevier (REL) 1,121.00p +1.54%
International Consolidated Airlines Group SA (CDI) (IAG) 563.00p +1.26%
easyJet (EZJ) 1,722.00p +1.23%
Shire Plc (SHP) 5,210.00p +0.97%
Barratt Developments (BDEV) 525.50p +0.96%
BAE Systems (BA.) 531.00p +0.76%
Persimmon (PSN) 1,766.00p +0.74%

Fallers
Fresnillo (FRES) 722.50p -8.72%
Hargreaves Lansdown (HL.) 1,129.00p -3.59%
Randgold Resources Ltd. (RRS) 4,821.00p -3.52%
Legal & General Group (LGEN) 268.80p -3.38%
Glencore (GLEN) 282.10p -3.12%
Anglo American (AAL) 1,175.00p -2.45%
Babcock International Group (BAB) 961.00p -2.24%
Rio Tinto (RIO) 3,070.00p -2.07%
Antofagasta (ANTO) 741.50p -1.79%
SSE (SSE) 1,539.00p -1.72%