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FTSE 100 movers: RBS leads financials lower

Mon, 20th Jun 2011 16:01

Financials are among the fallers over concerns of a possible Greek default, as Europe's finance ministers remain at loggerheads over dishing out a chunk of the €110bn bailout money agreed last year for the country. RBS, Man Group, Hargreaves Lansdown and Schroders were the worst four performers as of Monday afternoon. Lloyds and Barclays are also heading lower.Temporary power and temperature control provide Aggreko is also providing a drag despite seeing an acceleration in the rate of underlying growth in the second quarter.Packaging giant Rexam is unwanted after agreeing to sell its closures business for $360m (£222m) as it seeks to pay back its debts. Power systems colossus Rolls-Royce is lower after bagging the contract to provide engines for an enhanced version of the Airbus A350-1000 aircraft. Also underwhelming after a contract win is business services group Capita, after signing a £100m contract with the Driver and Vehicle Licensing Agency (DVLA).Inmarsat, the satellite engineer is the highest riser of the day, gaining 4.6%. Airline IAG and telecoms titan Vodafone are also wanted.InterContinental Hotels Group is edging higher after selling - but still agreeing to manage - its 210-room Hotel Indigo San Diego to Chesapeake Lodging Trust for $55.5m (around £34.2m), in line with its strategy to grow its management and franchise businesses whilst reducing capital intensity. ---BC
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