FTSE 100 movers: Housebuilders boosted by Jefferies note; Smiths slumps
London’s FTSE 100 was down 1.3% at 5,823.12 in afternoon trade on Thursday.
Smiths Group was weaker after it posted a drop in annual profit but reinstated its dividend and said business was stabilising.
Engine maker Rolls-Royce and British Airways and Iberia owner IAG were both under the cosh again amid concerns about the impact of Covid-19 on the airline industry.
Going the other way, housebuilders were on the rise after Jefferies said UK names were too cheap to ignore.
"With construction looking un-impacted by the latest Covid measures and the strength in the housing market providing increasing comfort on the sustainability of demand, we see the UK housebuilders as oversold," the bank said.
"News flow on Covid, Brexit, stamp duty and help-to-buy changes will likely create share price volatility near term. Nonetheless, we see current share price weakness as presenting a great entry point for our key picks: Persimmon, Berkeley, Barratt."
FTSE 100 - Risers
Pearson (PSON) 531.20p 5.15%
Persimmon (PSN) 2,425.00p 4.26%
Barratt Developments (BDEV) 455.70p 3.92%
NATWEST GROUP PLC ORD 100P (NWG) 100.30p 2.18%
Burberry Group (BRBY) 1,554.00p 1.73%
WPP (WPP) 581.40p 1.29%
United Utilities Group (UU.) 861.80p 1.22%
JD Sports Fashion (JD.) 799.20p 0.88%
Berkeley Group Holdings (The) (BKG) 4,134.00p 0.83%
Rightmove (RMV) 614.20p 0.75%
FTSE 100 - Fallers
Smiths Group (SMIN) 1,335.50p -6.74%
Rolls-Royce Holdings (RR.) 153.55p -5.45%
International Consolidated Airlines Group SA (CDI) (IAG) 96.22p -4.35%
Hargreaves Lansdown (HL.) 1,555.00p -3.72%
GVC Holdings (GVC) 858.40p -3.27%
AstraZeneca (AZN) 8,528.00p -3.22%
Fresnillo (FRES) 1,168.00p -3.03%
Schroders (SDR) 2,658.00p -3.03%
Homeserve (HSV) 1,238.00p -2.67%
Morrison (Wm) Supermarkets (MRW) 175.10p -2.53%