London Movers: Morrison, RBS
Shares of William Morrison Supermarkets surged more than 8 percent to the top of the FTSE-100 Tuesday, after it said it expects to beat earlier expectations for its full-year results.
The UK’s fourth–largest supermarket chain also expects to top its original margin forecasts. Shares of rival supermarket-operator Sainsbury’s rose 2.8 percent and Tesco gained 1.8 percent.
Royal Bank of Scotland saw its shares rise 2.6 percent after JPMorgan upped its price target for the bank to 26p from 17p. JPMorgan kept its underweight rating on RBS, however.
Meanwhile, shares of Barclays dipped 0.3 percent, despite having its target price raised by JPMorgan to 220p from 185p. JPMorgan also has an underweight rating on Barclays.