FTSE 100 movers: BT rallies as CEO picks up shares; Hargreaves recoups some losses
London's FTSE 100 was up 0.9% in afternoon trade on Friday at 7,324.92 as a weak non-farm payrolls report added to expectations that the US Federal Reserve will cut rates.
Paper and packaging groups Smurfit Kappa and Mondi were among the top risers, while BT Group was in the green after chief executive Philip Jansen bought just under 1.5 million shares in the company at 202p each.
Hargreaves Lansdown was also on the front foot, having been hit hard earlier in the week as the financial advisor got caught up in the crisis engulfing Woodford Investment Management.
Neil Woodford, one of the UK’s most high-profile stock pickers, was forced to suspend his flagship Woodford Equity Income Fund on Monday following a jump in redemptions.
Hargreaves Lansdown removed the Woodford Equity Income Fund from its Wealth 50 list of favourite funds following the suspension, along with another fund, the Woodford Income Focus Fund.
British American Tobacco was trading higher after JPMorgan Cazenove reiterated its 'overweight' rating on the stock. JPM said concerns about a collapse in US cigarette revenues and a slowdown in uptake of e-cigarettes were overdone.
FTSE 100 - Risers
Smurfit Kappa Group (SKG) 2,275.00p 3.69%
BT Group (BT.A) 207.10p 2.93%
Evraz (EVR) 637.60p 2.91%
TUI AG Reg Shs (DI) (TUI) 738.80p 2.75%
British American Tobacco (BATS) 2,992.00p 2.62%
Hargreaves Lansdown (HL.) 1,949.00p 2.58%
Mondi (MNDI) 1,686.50p 2.49%
Pearson (PSON) 797.00p 2.44%
InterContinental Hotels Group (IHG) 5,172.00p 2.33%
WPP (WPP) 992.60p 2.25%
FTSE 100 - Fallers
Marks & Spencer Group (MKS) 218.10p -2.42%
Next (NXT) 5,728.00p -0.83%
International Consolidated Airlines Group SA (CDI) (IAG) 466.70p -0.77%
NMC Health (NMC) 2,187.00p -0.59%
Berkeley Group Holdings (The) (BKG) 3,560.00p -0.42%
Imperial Brands (IMB) 2,065.00p -0.39%
Morrison (Wm) Supermarkets (MRW) 195.25p -0.36%
Ocado Group (OCDO) 1,118.00p -0.36%
easyJet (EZJ) 907.20p -0.35%
Associated British Foods (ABF) 2,510.00p -0.20%