FTSE 100 movers: Ferguson rallies as Trian takes stake; Persimmon goes ex-div

London's FTSE 100 was flat at 7,367.47 in afternoon trade on Thursday.

Plumbing and heating equipment supplier Ferguson was the standout performer after US fund manager Trian Investors took a 5.89% stake in the company.

In a statement, Trian described Ferguson as an "attractive" business, pointing out that it was trading at a discount to its US peers.

The fund manager also indicated that it had contacted Ferguson's management and that it "looks forward to working with them to explore and implement initiatives that it believes can create long-term shareholder value".

DS Smith gained as the packaging group reported better-than-expected full-year profits, with peers Smurfit Kappa and Mondi also higher.

Morrisons was on the rise on news that it and Amazon are expanding their same-day grocery delivery service.

On the downside, Persimmon, WPP, 3i and Severn Trent were all lower as their stock went ex-dividend.

FTSE 100 - Risers

Ferguson (FERG) 5,647.00p 6.35%
Smith (DS) (SMDS) 362.30p 5.57%
Smurfit Kappa Group (SKG) 2,394.00p 5.05%
Mondi (MNDI) 1,746.00p 2.49%
CRH (CRH) 2,543.00p 2.13%
Evraz (EVR) 684.40p 1.69%
Morrison (Wm) Supermarkets (MRW) 198.50p 1.66%
United Utilities Group (UU.) 829.00p 1.59%
International Consolidated Airlines Group SA (CDI) (IAG) 466.30p 1.52%
Scottish Mortgage Inv Trust (SMT) 518.20p 1.51%

FTSE 100 - Fallers

Persimmon (PSN) 1,957.78p -4.36%
WPP (WPP) 965.00p -3.64%
3i Group (III) 1,037.83p -3.37%
Next (NXT) 5,546.00p -1.77%
Marks & Spencer Group (MKS) 215.80p -1.55%
Auto Trader Group (AUTO) 582.80p -1.49%
Severn Trent (SVT) 2,056.00p -0.96%
Burberry Group (BRBY) 1,758.50p -0.85%
Ocado Group (OCDO) 1,157.50p -0.81%
Standard Life Aberdeen (SLA) 273.20p -0.65%