FTSE 100 movers: Housebuilders rally on RICS survey; Morrisons falls
London’s FTSE 100 was down 0.1% at 6,008.74 in afternoon trade on Thursday.
Morrisons retreated after it said first-half like-for-like sales rose 8.7% but revenue declined 1.1% and pre-tax profit was down 28.2%. Rivals Sainsbury and Tesco followed suit.
Avast was weaker as its stock went ex-dividend.
Catering company Compass was the standout gainer, followed closely by Ladbrokes owner GVC Holdings.
Housebuilders Barratt, Persimmon and Taylor Wimpey all gained after the latest RICS survey showed house prices rose at the fastest pace for four years in August as buyers sought out properties with gardens or near green space.
A net balance of 44% of estate agents reported rising prices in RICS' monthly survey, up from 13% in July and a turnaround from May when prices were falling. Only London failed to show growth with prices more or less unchanged in the past two months.
Buyer interest, new instructions and agreed sales all rose sharply as households acted to take account of Chancellor Rishi Sunak's stamp duty holiday, RICS said.
FTSE 100 - Risers
Compass Group (CPG) 1,297.50p 3.59%
GVC Holdings (GVC) 865.60p 3.12%
ITV (ITV) 64.48p 3.00%
Barratt Developments (BDEV) 515.40p 2.96%
Persimmon (PSN) 2,540.00p 2.79%
Melrose Industries (MRO) 122.25p 2.30%
Informa (INF) 405.60p 2.27%
Kingfisher (KGF) 281.70p 2.10%
Auto Trader Group (AUTO) 563.60p 2.06%
Taylor Wimpey (TW.) 115.05p 1.95%
FTSE 100 - Fallers
Morrison (Wm) Supermarkets (MRW) 186.35p -4.44%
Smith (DS) (SMDS) 281.40p -2.97%
Pearson (PSON) 531.20p -2.82%
Sainsbury (J) (SBRY) 188.60p -1.67%
Tesco (TSCO) 220.00p -1.61%
Bunzl (BNZL) 2,362.00p -1.50%
British Land Company (BLND) 348.70p -1.47%
Avast (AVST) 542.00p -1.45%
Pennon Group (PNN) 1,025.50p -1.39%
Intermediate Capital Group (ICP) 1,264.00p -1.17%