FTSE 100 movers: Utilities boosted by broker notes

(Sharecast News) - London's FTSE 100 was up 0.1% at 8,308.72 in afternoon trade on Thursday. Severn Trent was a high riser after Barclays lifted its price target on the stock, while United Utilities was lifted by an upgrade to 'equalweight' by the same outfit.

Severn Trent was under the cosh earlier in the week after BBC Panorama suggested the company had used an accounting trick to artificially inflate its balance sheet by more than £1bn.

Diageo gained after UBS upgraded shares of the drinks company to 'buy' from 'sell' and hiked the price target to 2,920p from 2,300p, saying it sees upside risks to the US business.

"Our analysis shows its sell-out trends are running +3.6%, significantly outperforming a still weak Spirits industry, and the strong growth momentum behind key brands Don Julio and Crown Royal can be sustained," UBS said.

"Following -31% earnings per share downgrades over the past two years, we think investors can gain comfort the business is towards the end of its earnings downgrade cycle."

FTSE 100 - Risers

Severn Trent (SVT) 2,604.00p 2.16% Diageo (DGE) 2,538.50p 1.97% Sainsbury (J) (SBRY) 279.80p 1.89% Centrica (CNA) 132.55p 1.84% easyJet (EZJ) 588.00p 1.84% International Consolidated Airlines Group SA (CDI) (IAG) 293.20p 1.81% Lloyds Banking Group (LLOY) 55.04p 1.51% Barclays (BARC) 270.45p 1.43% United Utilities Group (UU.) 1,083.50p 1.21% Schroders (SDR) 319.00p 1.08%

FTSE 100 - Fallers

Fresnillo (FRES) 670.00p -4.15% Antofagasta (ANTO) 1,695.00p -3.86% Rentokil Initial (RTO) 400.10p -3.68% Associated British Foods (ABF) 2,135.00p -2.60% Vistry Group (VTY) 671.00p -1.97% Diploma (DPLM) 4,460.00p -1.85% Intermediate Capital Group (ICG) 2,168.00p -1.81% Melrose Industries (MRO) 556.80p -1.76% Persimmon (PSN) 1,279.50p -1.54% SEGRO (SGRO) 709.40p -1.47