As the leading index heads higher, there are a couple of companies missing out on the rally.
Morrisons has slipped 1.6p to 261.4p following Jefferies cutting its target price from 330p to 310p on worries about the supermarket's Christmas performance. Analyst James Grzinic said:
Recent market share updates have highlighted soft trading momentum at Morrisons. We believe this likely reflects consumers trading down to discounters and continued online share shift. We now assume Christmas like for like sales (to be reported on 7 January) to have fallen by 2.8%, prompting a 3/4% cut to mid-term estimates and a reduction in our 2013 target ambition to 310p.
The group is one of just three fallers in the soaring FTSE, the others being defensive stock British American Tobacco, down 23p at £30.98, and J Sainsbury, off 1.4p at 343.7p.
