FTSE 100 movers: Micro Focus shines but Barratt slumps after results

London's FTSE 100 was down 0.2% to 7,360.22 in afternoon trade on Wednesday.

Micro Focus was the standout gainer following better-than-expected third-quarter results from HPE Software, the HP Enterprise unit with which it has just merged.

Retailer Next was in the black, possibly still riding high on the back of encouraging BRC retail sales data on Tuesday, which showed sales rose 1.3% in August on a like-for-like basis.

Shire was on the front foot as Citigroup included the buy-rated stock in its 'UK sweet 16' stocks for investors to play pre-Brexit UK. The bank said Shire suffers from an "overly bearish" share price in light of forecasts for rapidly falling debt and rapidly growing earnings.

British American Tobacco, which also featured in Citi's list, was trading higher. Citi said it likes the stock for its strong sales and potential upside from next-generation such as Heat Not Burn.

Going the other way, housebuilder Barratt Developments was under the cosh despite posting record annual profit, better than forecast revenue and a 39% hike to its dividend. The company's shares had climbed 30% since the start of the year while the prospect of only "modest growth" in the next financial year was another reason for the shares' correction. Peers Persimmon and Taylor Wimpey followed suit.

Risers

Micro Focus International (MCRO) 2,366.00p 7.20%
Next (NXT) 4,336.00p 1.62%
ITV (ITV) 158.30p 1.34%
Paddy Power Betfair (PPB) 7,200.00p 1.27%
Shire Plc (SHP) 3,964.00p 1.10%
Morrison (Wm) Supermarkets (MRW) 247.00p 0.86%
Reckitt Benckiser Group (RB.) 7,151.00p 0.83%
British American Tobacco (BATS) 4,813.00p 0.76%
Unilever (ULVR) 4,494.50p 0.54%
Sky (SKY) 956.00p 0.53%

Fallers

Barratt Developments (BDEV) 596.50p -4.41%
Persimmon (PSN) 2,562.00p -2.36%
G4S (GFS) 277.60p -2.36%
BAE Systems (BA.) 598.00p -2.05%
Taylor Wimpey (TW.) 194.90p -1.96%
Ashtead Group (AHT) 1,660.00p -1.95%
Ferguson (FERG) 4,516.00p -1.89%
Mediclinic International (MDC) 743.00p -1.72%
CRH (CRH) 2,659.00p -1.48%
Burberry Group (BRBY) 1,758.00p -1.46%