FTSE 100 movers: Next results fall short of City expectations

FTSE 100 retailer Next confirmed total sales growth of 10.3% in the first half and slightly upgraded its full-year earnings guidance, but shares slumped after the figures fell short of City analysts' ambitious forecasts. Retail stores and its online business both delivered significant growth to lift profit before tax 19.3% to £324.2m for the six months to end-July, shy of the £329m analyst consensus, with earnings per share up 22% to 173.3p.

Analyst Freddie George from Cantor Fitzgerald said the figures were "strong but slightly light of very ambitious market forecasts".

Mining stocks such as Fresnillo, Anglo American, Randgold Resources and Antofagasta were among the worst performers on the FTSE 100 after the worse-than-expected data from China.

Heading the other way were banking peers RBS and Lloyds after saying that they would re-domicile in England in the event of a 'yes' vote for Scottish independence.

Credit Suisse lifted shares in broadcaster ITV after upping its target price by 20p and its earnings per share forecasts by 6%. The broker improved its outlook following comments by culture secretary Sajid Javid, who said he would look into whether broadcasters such as ITV could potentially begin charging satellite and cable operators to carry their transmissions.

Edinburgh-based Standard Life and Perth-headquartered SSE were both strong risers after a poll showed that at 53% there was slightly more support for the 'no' campaign in the fast-approaching referendum on Scottish referendum.


FTSE 100 - Risers
SSE (SSE) 1,471.00p +1.80%
Standard Life (SL.) 414.20p +1.67%
St James's Place (STJ) 698.50p +1.23%
Royal Bank of Scotland Group (RBS) 345.60p +0.99%
Lloyds Banking Group (LLOY) 73.92p +0.94%
Aviva (AV.) 531.50p +0.66%
ITV (ITV) 213.80p +0.66%
Sports Direct International (SPD) 712.50p +0.64%
International Consolidated Airlines Group SA
Ashtead Group (AHT) 1,015.00p +0.40%

FTSE 100 - Fallers
Next (NXT) 6,945.00p -3.07%
Fresnillo (FRES) 819.00p -2.73%
Tullow Oil (TLW) 702.00p -2.50%
Anglo American (AAL) 1,483.50p -2.05%
Vodafone Group (VOD) 201.10p -1.93%
Sage Group (SGE) 382.60p -1.77%
Antofagasta (ANTO) 766.00p -1.67%
Barclays (BARC) 224.50p -1.64%
Hargreaves Lansdown (HL.) 1,006.00p -1.57%
GlaxoSmithKline (GSK) 1,423.50p -1.52%