FTSE 100 movers: Commercial landlords rally; DS Smith in the red
London’s FTSE 100 was up 0.2% at 7,077.64 in afternoon trade on Tuesday.
Commercial landlords British Land and Land Securities rallied after an upgrade to ‘overweight’ from ‘neutral’ at JPMorgan, which argued that UK retail was turning a corner.
GKN owner Melrose Industries gained as it said it will return around £730m in cash to shareholders after completing the sale of its Nortek Air Management business.
Royal Dutch Shell and BP gushed higher after crude oil prices breached $75 a barrel for the first time in two years.
On the downside, packaging group DS Smith fell as it said the current financial year had started well but reported a sharp drop in annual profit caused mainly by higher costs and lower prices during the pandemic.
FTSE 100 - Risers
British Land Company (BLND) 521.00p 5.57%
Land Securities Group (LAND) 711.40p 4.99%
Melrose Industries (MRO) 162.85p 2.81%
Royal Dutch Shell 'B' (RDSB) 1,393.60p 2.29%
Glencore (GLEN) 307.45p 2.06%
BP (BP.) 322.35p 1.74%
Royal Dutch Shell 'A' (RDSA) 1,448.00p 1.69%
Flutter Entertainment (CDI) (FLTR) 13,850.00p 1.61%
CRH (CDI) (CRH) 3,687.00p 1.21%
Rio Tinto (RIO) 5,861.00p 1.19%
FTSE 100 - Fallers
Smith (DS) (SMDS) 421.20p -2.59%
Hargreaves Lansdown (HL.) 1,602.50p -1.75%
Entain (ENT) 1,811.00p -1.31%
Standard Chartered (STAN) 466.50p -1.08%
GlaxoSmithKline (GSK) 1,400.40p -1.03%
Phoenix Group Holdings (PHNX) 693.60p -1.03%
Compass Group (CPG) 1,549.50p -0.93%
Intermediate Capital Group (ICP) 2,167.00p -0.87%
Prudential (PRU) 1,445.50p -0.76%
Legal & General Group (LGEN) 270.10p -0.74%