FTSE 100 movers: Just Eat rallies after update; travel stocks fall
London’s FTSE 100 was flat at 6,887.01 in afternoon trade on Tuesday.
Just Eat Takeaway rallied after it said first-quarter orders rose 79% to 200 million. The company also said the start of 2021 has been "very strong".
JD Sports Fashion advanced as it missed annual profits expectations despite more people buying sports and casualwear during the pandemic lockdown, but reinstated dividend payments and forecast higher earnings for the current year.
Engineer Weir was a high riser after Credit Suisse upgraded the shares to ‘outperform’ from ‘neutral’, pointing to an "attractive" entry point as we enter a period of compounding growth.
The bank noted that Weir’s share price has underperformed its European mining equipment peer group by 28% in the last three months following its slower fourth-quarter order and said this has created a buying opportunity.
It also said there are strong fundamentals for Weir’s mining end market that can see the company establish status as a higher quality, aftermarket driven, earnings compounder.
Travel and leisure-related stocks were in the red, with InterContinental, catering group Compass and British Airways owner IAG all weaker.
FTSE 100 - Risers
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,765.00p 5.59%
JD Sports Fashion (JD.) 958.00p 4.86%
Auto Trader Group (AUTO) 588.20p 3.08%
B&M European Value Retail S.A. (DI) (BME) 551.20p 2.91%
Rightmove (RMV) 616.20p 2.60%
Avast (AVST) 476.30p 2.41%
Evraz (EVR) 608.60p 2.25%
Weir Group (WEIR) 1,883.00p 2.14%
Kingfisher (KGF) 341.40p 2.00%
Polymetal International (POLY) 1,475.50p 1.93%
FTSE 100 - Fallers
United Utilities Group (UU.) 943.00p -2.74%
Severn Trent (SVT) 2,383.00p -2.01%
InterContinental Hotels Group (IHG) 5,040.00p -1.64%
Compass Group (CPG) 1,548.50p -1.56%
HSBC Holdings (HSBA) 425.85p -1.55%
BT Group (BT.A) 149.75p -1.51%
International Consolidated Airlines Group SA (CDI) (IAG) 203.75p -1.26%
SSE (SSE) 1,514.50p -1.21%
Schroders (SDR) 3,601.00p -1.15%
Lloyds Banking Group (LLOY) 43.90p -1.09%