Rolls Royce was in the top spot today after a host of analysts lifted their target prices following the engine group's move last week to buy-out Daimler in their 50-50 joint venture, Rolls-Royce Power Systems (RRPS).
After the close of trade on Friday, Rolls-Royce said that it is to buy the remaining 50% stake in RRPS for £1.9bn. RRPS was formed in 2011 after Rolls-Royce and Daimler bought German engine maker Tognum.
GlaxoSmithKline (GSK) was also higher after it increased its stake in its pharmaceuticals subsidiary in India from 50.7% to 75% following an open offer. The transaction was valued at approximately £625m. The group said the move would increase its exposure to a "strategically important market".
Tobacco giant British American was benefitting from comments from Citigroup, which added the stock to its 'Focus List'.
Reckitt Benckiser Group (RB) gained on the news it has signed a definitive agreement to acquire the global rights to the K-Y brand, which develops intimate lubricant products. The rights are being bought from McNEIL-PPC, a subsidiary of Johnson & Johnson, to enhance RB's sexual wellbeing offering. It is expected to "transform" the category in both the US and Brazil, where it will be the subject of the company's innovation, brand equity investment and go-to-market capabilities.
UBS gave food and retail company Associated British Foods a boost after it hiked its target price for from 2,890p to 3,300p and reiterated its 'buy' stance, saying that the Primark business is "still at an early chapter".
Elsewhere, Credit Suisse raised its recommendation for British Gas owner Centrica from 'underperform' to 'neutral' after the stock's recent underperformance.
Meanwhile, Vodafone was lower after reportedly reaching a deal that could result in a higher purchase price than initially offered for Spanish broadband operator Ono. That follows the refusal of the Spanish telecom to entertain an initial offer of €6.9bn, having judged that the price was inadequate and stating that it would proceed with an initial public offering.
Mining stocks were also in the red as investors digested economic data from Asia. Fresnillo, Glenore Xstrata, Anglo American, Antofagasta and Rio Tinto were all trading lower by mid-afternoon.
FTSE 100 - Risers
Rolls-Royce Holdings (RR.) 1,041.00p +1.46%
SABMiller (SAB) 2,926.00p +1.18%
GlaxoSmithKline (GSK) 1,671.00p +1.06%
United Utilities Group (UU.) 794.50p +0.95%
British American Tobacco (BATS) 3,319.50p +0.90%
Centrica (CNA) 327.50p +0.89%
Bunzl (BNZL) 1,588.00p +0.89%
Kingfisher (KGF) 404.40p +0.82%
Next (NXT) 6,600.00p +0.76%
Associated British Foods (ABF) 2,990.00p +0.71%
FTSE 100 - Fallers
Fresnillo (FRES) 893.00p -3.72%
Vodafone Group (VOD) 229.95p -3.65%
Persimmon (PSN) 1,344.00p -3.52%
Royal Bank of Scotland Group (RBS) 316.90p -3.00%
Petrofac Ltd. (PFC) 1,363.00p -2.99%
Glencore Xstrata (GLEN) 315.50p -2.88%
Anglo American (AAL) 1,420.50p -2.87%
WPP (WPP) 1,224.00p -2.63%
Antofagasta (ANTO) 854.50p -2.57%
Rio Tinto (RIO) 3,121.50p -2.45%