FTSE 100 movers: Next bucks trend after results
London’s FTSE 100 was down 3.3% at 5,539.29 in afternoon trade on Wednesday as worries about tightening Covid restrictions gripped markets.
Intermediate Capital Group, and precious metals miners Fresnillo and Polymetal were the worst performers on the index.
Sales, marketing and support services group DCC was a little weaker despite a rating upgrade to ‘outperform’ from ‘sector perform’ by RBC Capital Markets, which said it was taking advantage of recent weakness.
The bank noted that DCC has been hit hard on a number of concerns around the impact of EVs, falling return on capital employed and lacklustre M&A spend. But RBC said these concerns are overdone.
Clothing retailer Next bucked the trend as it lifted full-year profit guidance after a better-than-expected rise in third quarter sales. The company forecast a pre-tax profit of £365m, up £65m from a central scenario given in September.
Online supermarket Ocado was also among the risers amid expectations there will be a boost in demand if a second lockdown occurs.
FTSE 100 - Risers
Rolls-Royce Holdings (RR.) 83.08p 10.55%
Next (NXT) 6,138.00p 0.79%
Ocado Group (OCDO) 2,330.00p 0.78%
Flutter Entertainment (FLTR) 12,320.00p 0.08%
Admiral Group (ADM) 2,756.00p -0.04%
B&M European Value Retail S.A. (DI) (BME) 487.00p -0.18%
Reckitt Benckiser Group (RB.) 6,914.00p -1.00%
Avast (AVST) 492.00p -1.05%
DCC (DCC) 5,062.00p -1.21%
Morrison (Wm) Supermarkets (MRW) 167.25p -1.41%
FTSE 100 - Fallers
Intermediate Capital Group (ICP) 1,128.00p -7.92%
Fresnillo (FRES) 1,159.00p -6.23%
Polymetal International (POLY) 1,670.00p -5.46%
Prudential (PRU) 949.20p -5.13%
Johnson Matthey (JMAT) 2,196.00p -5.06%
Informa (INF) 425.00p -5.03%
Anglo American (AAL) 1,798.80p -4.95%
British Land Company (BLND) 347.10p -4.90%
Evraz (EVR) 354.00p -4.84%
JD Sports Fashion (JD.) 745.60p -4.68%