FTSE 100 movers: JD Sports surges; BP gushes lower
London’s FTSE 100 was down 0.3% at 6,346.07 in afternoon trade on Monday.
Oil giant BP gushed lower as investors eyed a meeting of the Opec+ group of oil producers, who are due to decide on January production plans.
IG said: "Recent vaccine announcements have helped lift hopes of a sharp rebound in demand for crude, yet the question now is how much energy should be priced based on the future prospective demand or current reality.
"From an OPEC perspective, the question is whether foster this recovery or send energy prices lower once again. The two-million barrels per day increase that would come in the absence of a deal would deal a serious blow to market sentiment as much as supply/demand levels themselves, indicating that the group are unwilling to support energy prices until demand returns."
JD Sports was the standout gainer on the index after the company was reported to be considering scrapping plans to buy Debenhams.
Sunday's press said JD's decision on whether to proceed with a purchase of Debenhams stores and its online business was "on a knife edge". The imminent bankruptcy of Philip Green's Arcadia business was said to have contributed to JD's nervousness.
Independent retail analyst Nick Bubb said: "JD Sports shareholders will be relieved that Peter Cowgill now has an excuse to back away from his dubious plan to buy Debenhams." Bubb said it was surprising that JD had not published a statement for shareholders after the weekend's reports.
AstraZeneca was also on the rise after announcing that ‘Forxiga’, or dapagliflozin, has been approved in Japan for the treatment of patients with chronic heart failure, who are receiving standard-of-care.
FTSE 100 - Risers
JD Sports Fashion (JD.) 782.40p 6.71%
Spirax-Sarco Engineering (SPX) 11,190.00p 3.13%
Experian (EXPN) 2,661.00p 2.94%
Auto Trader Group (AUTO) 563.60p 2.81%
Bunzl (BNZL) 2,375.00p 2.55%
Antofagasta (ANTO) 1,266.00p 2.34%
Kingfisher (KGF) 277.10p 2.29%
Next (NXT) 6,662.00p 2.21%
Rightmove (RMV) 637.40p 2.15%
AstraZeneca (AZN) 7,914.00p 1.85%
FTSE 100 - Fallers
Phoenix Group Holdings (PHNX) 743.40p -5.44%
Fresnillo (FRES) 1,052.00p -5.40%
Compass Group (CPG) 1,377.50p -2.86%
BP (BP.) 256.30p -2.51%
Polymetal International (POLY) 1,549.00p -2.39%
HSBC Holdings (HSBA) 395.85p -2.22%
Imperial Brands (IMB) 1,382.50p -2.16%
BT Group (BT.A) 118.75p -2.10%
Barclays (BARC) 136.64p -2.05%
M&G (MNG) 190.10p -1.73%