FTSE 100 movers: AB Foods rallies on update; Pearson slumps

London’s FTSE 100 was down 0.5% at 7,606.25 in afternoon trade on Thursday.

Associated British Foods rallied as the Primark owner said group revenue in the 16 weeks to 4 January 2020 rose 4%.

Housebuilders Persimmon and Berkeley were on the front foot as the latest survey from the Royal Institution of Chartered Surveyors showed that greater political clarity following December’s general election helped boost sentiment across the UK’s property market.

On the downside, Pearson was under the cosh after the education publisher said full-year adjusted operating profit was set to come in at the bottom end of its guidance and announced the departure of its chief financial officer.

In a trading update for 2019 ahead of its results in February, the company said it expects flat underlying revenue and adjusted operating profit of around £590m as weaker sales in US Higher Education Courseware were offset by a strong performance elsewhere.

Whitbread was also lower after the Premier Inn owner said like-for-like third-quarter sales fell 1.3% as weak accommodation demand offset a good performance in food and beverages.

Compass was down as its stock went ex-dividend and GlaxoSmithKline was dented by a downgrade to ‘underweight’ from ‘equalweight’ at Barclays, which said 2020 looks set to be a much tougher investment year of little growth.

The bank, which left its price target on the stock unchanged at 1,650p, said it was now modelling zero like-for-like sales and a slight earnings per share decline.

FTSE 100 - Risers

NMC Health (NMC) 1,402.00p 4.20%
Associated British Foods (ABF) 2,638.00p 3.25%
Berkeley Group Holdings (The) (BKG) 4,934.00p 1.84%
Persimmon (PSN) 2,858.00p 1.82%
Admiral Group (ADM) 2,339.00p 1.39%
Anglo American (AAL) 2,182.00p 0.95%
SEGRO (SGRO) 885.00p 0.66%
Standard Life Aberdeen (SLA) 311.00p 0.65%
Coca-Cola HBC AG (CDI) (CCH) 2,764.00p 0.58%
JD Sports Fashion (JD.) 854.80p 0.56%

FTSE 100 - Fallers

Pearson (PSON) 565.80p -8.51%
Whitbread (WTB) 4,578.00p -5.35%
DCC (DCC) 6,428.00p -3.34%
Hikma Pharmaceuticals (HIK) 1,911.50p -3.22%
Smurfit Kappa Group (SKG) 2,770.00p -2.40%
Compass Group (CPG) 1,926.00p -2.31%
Melrose Industries (MRO) 231.50p -2.24%
Johnson Matthey (JMAT) 2,845.00p -1.96%
GlaxoSmithKline (GSK) 1,801.80p -1.82%
Hargreaves Lansdown (HL.) 1,801.50p -1.56%