InterContinental Hotels was rising after Deutsche Bank upgraded its rating from hold to buy.

Investec has kept its positive stance on the temporary power rental market and says that the investment case remains "compelling", with the temporary power and temperature control provider Aggreko getting a particular boost from the news and soaring into the top spot.

Meanwhile, drugs giant GlaxoSmithKline was the biggest faller despite saying that that the the phase III registration programme for the once-a-day respiratory medicine, Relovair, in patients with chronic obstructive pulmonary disease (COPD) has been completed.

Glaxo admitted that a 24-week "superiority study" of Relovair against Seretide in asthma patients "did not meet the predefined threshold for superiority". Glaxo described this study as "non-pivotal".

Lloyds Banking Group chief António Horta-Osório has eased back into the driving seat at the part-owned British lender after a two-month rest period taken so he could recover from exhaustion. Despite the good news, the firm was unable to escape the bottom ten.

Also falling, Indian energy firm Essar Energy, currently under a cloud as the Indian Central Bureau of Investigation investigates some of its senior executives, switched attention to operational matters with news of the first phase of its Vadinar Refinery expansion.

The company's Essar Oil subsidiary has successfully commissioned the Amine Regeneration Unit (ARU), a step in the planned expansion of the refinery's capacity from 14m tonnes per annum (mtpa) to 18 mtpa. The phase 1 project is nearing completion and increased throughput of 18 mtpa will commence by March 2012. The news failed to distract investors away from their concerns over the on-going investigations, however.

Pay-TV and internet service provider British Sky Broadcasting (BSkyB) was also heading lower despite announcing plans to integrate the technology of TV guide and chat app (software application) developer zeebox into its own TV platform in the UK, and will take an equity stake in the UK technology start-up.

Antofagasta suffered a downgrade by Deutsche Bank from buy to hold.

Supermarket giant Morrisons was also among the worst performers after like-for-like (LFL) sales growth slowed in the final six weeks of 2011. LFL sales excluding fuel rose 0.7% in the period, down from the 2.4% growth seen in the third quarter.


FTSE 100 - Risers
Aggreko (AGK) 2,139.00p +2.39%
Burberry Group (BRBY) 1,277.00p +2.16%
InterContinental Hotels Group (IHG) 1,196.00p +1.87%
Serco Group (SRP) 499.90p +1.75%
National Grid (NG.) 620.00p +1.72%
Experian (EXPN) 867.50p +1.70%
Rexam (REX) 366.90p +1.69%
WPP (WPP) 701.00p +1.59%
Reckitt Benckiser Group (RB.) 3,322.00p +1.50%
Weir Group (WEIR) 2,177.00p +1.44%

FTSE 100 - Fallers
GlaxoSmithKline (GSK) 1,432.50p -4.31%
Essar Energy (ESSR) 163.80p -4.04%
Barclays (BARC) 179.70p -3.59%
Schroders (Non-Voting) (SDRC) 1,031.00p -2.83%
Antofagasta (ANTO) 1,234.00p -2.83%
Schroders (SDR) 1,263.00p -2.47%
Lloyds Banking Group (LLOY) 26.53p -2.14%
Man Group (EMG) 110.30p -2.13%
Resolution Ltd. (RSL) 245.40p -1.96%
Wolseley (WOS) 2,080.00p -1.84%

NR

Related share prices
GlaxoSmithKline (GSK) share price
Lloyds Banking Group (LLOY) share price
Aggreko (AGK) share price
Antofagasta (ANTO) share price
InterContinental Hotels Group (IHG) share price
Essar Energy (ESSR) share price