London shares - feature movements at 10.00 am

London shares - feature movements at 10.00 am

FTSE 100 risers

Hilton Group 150 up 10-3/4 Rally

Granada 70-1/2 up 4 Enters merger talks with Carlton

Sainsbury 267-3/4 up 14-3/4 Q2 like-for-like sales up 2.5%

Hays 98-1/2 up 5-1/2 Rally offsets Morgan Stanley downgrade

WPP Group 424-1/2 up 32-1/4 Media stocks in demand after Carlton/Granada merger news

Glaxo SmithKline 1322 up 51 Avandamet approved by the US Food and Drug Administration

FTSE 100 fallers

Reuters 170 down 18 JP Morgan 'neutral' from 'overweight', Merrill cuts figures ahead of Q3

Smith & Nephew 386-1/2 down 1-1/2 Plans to acquire remaining 50% of JV Dermagraft from ATIS for $12 million

FTSE 250 risers

Spirent 7.35 up 1.60 Rally after profit warning, recent director share buying

Carlton Communications 118-3/4 up 5-3/4 Confirms in merger talks with Granada

British Airways 101 up 5 Best recovery play in sector, says Goldman Sachs

CMG 52 up 2-1/2 WestLB 'outperform' advice; talk of Tier 1 telecoms contract this month

FTSE 250 fallers

VT Group 166-1/2 down 8-1/2 SSSB lowers aerospace sector to 'underweight' from 'market weight'

International Power 92 down 1-1/2 Sector weak after Powergen plant mothballing, Union Fenosa liquidity rumours

Cordiant 32 down 1/2 Profit taking after bid speculation yesterday

JJB Sports 152-1/2 down 1 Profit taking after recent results-inspired rally

Other risers

Jarvis Hotels 115 up 11 In advanced talks over potential sale and leaseback of some hotels

NXT 34-1/2 up 3 SoundVu product comes to market ahead of forecast

VI Group 18 up 1-1/2 Says market has improved; Q3 sales up 20%

Fusion Oil & Gas 42 up 3-1/2 Says Mauritania test well reveals oil-bearing sandstones

Other fallers

Waterman Group 72-1/2 down 13 Warns operating margins to be weak in current year; FY results