Investec Securities upgrades its rating to “buy” after a solid full-year trading statement from the drinks giant.William Hill 542.5p (up 9.5p, 1.9 per cent). It singled out Hot Group, unchanged at 17.25p, as the cheapest stock in the sector MARKET MOVERS British Airways 232.75p (up 7p, 3.1 per cent). Reports a 2.3 per cent rise in August passenger traffic and reiterates its hope of 2-3 per cent revenue growth by the end of its financial year.Allied Domecq 457p (up 9p, 2.0 per cent). It believes the likes of Harvey Nash, up 0.5p to 83p, and Glotel, steady at 108p, after enjoying buoyant trading conditions. Torex Retail ticked 1p better to 55p on news of a IT outsourcing deal with WH Smith worth £7m to the group.Numis Securities was heard making positive comments about the recruitment sector. Ncipher put on 7p to 172p as traders bet that its upcoming results will impress The software group is due to announce results on Tuesday. Simon Melliss, also a finance director, sold 49,000 shares after exercising various stock options.Thus, the alternative telecom carrier, added 0.75p to 16.25p in response to the purchase of 100,000 shares at 15.25p by Philip Rogerson, its new chairman.

Amec, up 10.5p to 325p, saw Stuart Siddall, its finance director, disclose the sale of 96,000 shares at 317p. There was also director share selling at the property group Hammerson, down 1p to 745p. It believes the group has benefited greatly from buoyant steel prices. It argued that the US giant’s bearish comments “are clearly negative” for Cookson and slashed its earnings forecasts for the group.Corus, up 1.75p to 47.5p, will post interim results later this month and Deutsche Bank seemed to indicate yesterday that they will make pleasant reading for shareholders.

This sent CSR 8.25p lower to 364.75p, Arc International down 1.25p to 26p and Wolfson Microelectronics off 2.5p to 170.5p.Cookson retreated 2.25p to 30.75p as Dresdner Kleinwort Wasserstein cut its rating on the electronics group to “reduce” from “hold” following Intel’s profit warning. The US chip giant cut its third-quarter revenue and profit forecast, citing weak demand. The wider FTSE 100 ignored a lacklustre start to trading on Wall Street and closed 32 points better at 4,550.Technology stocks, particularly those involved with the semiconductor industry, suffered after bearish comments from Intel. The drug is being considered for approval by the US Food and Drug Administration and a preliminary decision is expected from the regulator on 10 September. Raising its recommendation on shares of the pharmaceuticals giant to “outperform” from “neutral”, the broker predicted that next week will bring positive news for the AZ’s Exanta product.