FTSE 100 movers: Hargreaves heads lower; Polymetal shines on special divi
London’s FTSE 100 was down 0.9% at 7,317.65 in afternoon trade on Friday amid growing concerns about the spread of the coronavirus.
Hargreaves Lansdown retreated after it posted a rise in interim pre-tax profit but a drop in net new business, although it did say there had been signs of an improvement in investor confidence since the general election.
In the six months to the end of December, net new business declined 9% to £2.3bn, but pre-tax profit increase 12% to £171.1m and revenue rose 9% to £257.9m. Assets under administration grew 22% to £105.2bn and active client numbers were up 4% to 1.274m.
On the upside, Polymetal was the standout gainer after the board of directors approved a special dividend of $0.20 per share for the year ended 31 December 2019.
RBC Capital Markets said: "We have been flagging the potential for Polymetal to pay a special dividend for some time, seeing it as a key part of our investment thesis. Today the group has delivered on this key catalyst with a special dividend of US20c/share for 2019, a payout of $94 m. This is well ahead of our forecast US5c/sh. We see this as a material positive for the group."
It added: "By offering both diversification benefits of gold exposure and an attractive yield we see Polymetal as looking increasingly attractive to investors looking for a large liquid way to gain gold exposure."
Carnival was on the front, having suffered heavy losses a day earlier as thousands of passengers on one of its cruise ships were put on lockdown amid suspected cases of coronavirus.
Hotel chain InterContinental, British Airways and Iberia parent IAG and budget airline easyJet were also higher, having been hit recently on concerns about the impact of the coronavirus.
SSE was in the green as it reiterated its full-year earnings guidance but said it was behind its renewable energy target for the first nine months of the financial year.
FTSE 100 - Risers
Polymetal International (POLY) 1,284.00p 1.42%
Carnival (CCL) 3,209.00p 1.29%
Scottish Mortgage Inv Trust (SMT) 589.00p 1.20%
InterContinental Hotels Group (IHG) 4,722.50p 1.20%
easyJet (EZJ) 1,404.50p 1.19%
Persimmon (PSN) 3,070.00p 0.99%
Informa (INF) 781.80p 0.98%
Imperial Brands (IMB) 1,941.40p 0.96%
International Consolidated Airlines Group SA (CDI) (IAG) 577.60p 0.91%
SSE (SSE) 1,513.50p 0.83%
FTSE 100 - Fallers
Hargreaves Lansdown (HL.) 1,750.00p -6.89%
Antofagasta (ANTO) 824.40p -3.58%
Evraz (EVR) 355.50p -3.50%
Ashtead Group (AHT) 2,492.00p -2.35%
Standard Chartered (STAN) 635.20p -2.22%
Ocado Group (OCDO) 1,246.50p -1.89%
BHP Group (BHP) 1,659.60p -1.87%
Lloyds Banking Group (LLOY) 56.91p -1.76%
Burberry Group (BRBY) 1,980.50p -1.71%
Mondi (MNDI) 1,565.50p -1.70%