FTSE 100 movers: Ashtead recovers; JD Sports tumbles
London’s FTSE 100 was up 0.1% at 7,219.84 in afternoon trade on Wednesday as investors erred on the side of caution ahead of the general election.
Equipment rental firm Ashtead was higher, recovering from heavy losses in the previous session after it posted a drop in interim profit at its UK business and warned of "challenging" conditions.
JD Sports Fashion was under the cosh following reports that its largest shareholder, Pentland Group, had sold off a stake in the sportswear retailer. Pentland was said to have sold around 24 million shares in a placing, at 740p each.
CMC Markets analyst Michael Hewson said: "Despite the sale Pentland still remains a majority shareholder in the business owning 55% of the share capital, and the shares are still up over 100% year to date, which doesn’t seem too bad a return."
Shares with exposure to the UK such as Auto Trader, Segro, Barratt Developments and Taylor Wimpey were weaker as traders mulled the prospect of a hung parliament.
Travel company TUI was in the red after saying that its dividend payouts were likely to be lower under a new capital allocation policy that takes effect in the current financial year.
It said the change of policy was needed to give it more flexibility for investments in an industry under pressure from fierce competition and consumer caution.
FTSE 100 - Risers
Fresnillo (FRES) 577.80p 4.22%
Ashtead Group (AHT) 2,260.00p 1.80%
Smith (DS) (SMDS) 373.40p 1.41%
Polymetal International (POLY) 1,187.00p 1.41%
Hikma Pharmaceuticals (HIK) 1,968.50p 1.31%
Pearson (PSON) 640.80p 1.20%
Standard Chartered (STAN) 690.80p 1.17%
BAE Systems (BA.) 557.80p 1.16%
Rio Tinto (RIO) 4,305.00p 1.14%
Smurfit Kappa Group (SKG) 2,698.00p 1.12%
FTSE 100 - Fallers
JD Sports Fashion (JD.) 732.20p -8.86%
Auto Trader Group (AUTO) 535.40p -3.36%
Morrison (Wm) Supermarkets (MRW) 192.90p -2.16%
SEGRO (SGRO) 849.60p -2.10%
Evraz (EVR) 354.10p -2.07%
RSA Insurance Group (RSA) 534.20p -2.02%
Barratt Developments (BDEV) 651.20p -1.99%
TUI AG Reg Shs (DI) (TUI) 924.60p -1.91%
Taylor Wimpey (TW.) 173.00p -1.79%
Legal & General Group (LGEN) 279.90p -1.72%