FTSE 100 movers: NMC Health loses some ground; ITV rallies
London's FTSE 100 was flat at 7,129.35 in afternoon trade on Friday, erasing earlier gains after China announced retaliatory tariffs on another $75bn of US goods.
NMC Health was the worst performer, having surged on Thursday on the back of a Reuters report that two groups, including one backed by China's Fosun, had made competing offers to buy a 40% stake in the UAE-based healthcare provider. NMC also released its half-year results, which showed a rise in profit, and announced a share buyback.
Marks & Spencer was in the red as the retailer faced demotion from the FTSE 100 index for the first time since it was formed 35 years ago, as it suffers the effects of high street decline and its own problems.
On the upside, ITV racked up healthy gains as it emerged that Hasbro has agreed to buy Peppa Pig owner Entertainment One for £3.3bn. The broadcaster made a failed £1bn attempt at buying ETO back in 2016.
While analysts were already beginning to speculate about who might jump in with a counter offer, Olivetree Financial said "it would seem hard for a company the size of ITV to now compete", with Netflix a more obvious contender.
Building materials group CRH was on the front foot as it confirmed the start of a €350m share buyback. The company said it had entered into arrangements with Societe Generale to repurchase ordinary shares on its behalf.
FTSE 100 - Risers
Berkeley Group Holdings (The) (BKG) 3,973.00p 2.66%
ITV (ITV) 117.38p 2.38%
Burberry Group (BRBY) 2,171.00p 2.31%
Barratt Developments (BDEV) 641.80p 2.20%
CRH (CRH) 2,652.00p 1.88%
Persimmon (PSN) 1,935.00p 1.84%
SSE (SSE) 1,115.00p 1.78%
3i Group (III) 1,105.00p 1.75%
Next (NXT) 5,828.00p 1.53%
TUI AG Reg Shs (DI) (TUI) 815.60p 1.52%
FTSE 100 - Fallers
NMC Health (NMC) 2,201.00p -4.14%
Evraz (EVR) 480.60p -1.90%
Marks & Spencer Group (MKS) 188.85p -1.51%
JD Sports Fashion (JD.) 610.00p -1.39%
BAE Systems (BA.) 543.60p -1.13%
Smurfit Kappa Group (SKG) 2,414.00p -1.07%
BP (BP.) 489.40p -1.02%
Anglo American (AAL) 1,663.60p -1.01%
Royal Dutch Shell 'B' (RDSB) 2,257.50p -0.92%
Rolls-Royce Holdings (RR.) 754.40p -0.92%