FTSE 100 movers: NMC Health recovers; Mondi dented by downgrade
London’s FTSE 100 was up 0.1% at 7,621.78 in afternoon trade on Tuesday.
NMC Health was the standout gainer, recovering from heavy losses a day earlier on the back of a report that the UAE healthcare operator was preparing to take legal action against US research firm Muddy Waters.
Taylor Wimpey was a high riser after the housebuilder said it expected full-year results to be in line with expectations as it welcomed increased political stability after the UK General Election. The company said 2019 home completions rose 5% as it closed the year with a record total order book worth £2.17bn, up from £1.78bn a year earlier.
Richard Hunter, head of markets at Interactive Investor, said: "The housebuilding sector is in a sweet spot at present, more recently fuelled by the removal of a layer of political uncertainty, and Taylor Wimpey has certainly felt the benefit.
"Quite apart from the wider assistance provided by historically low interest rates, mortgage availability and an ongoing supply shortage, the Help to Buy scheme is another fillip to profits."
On the downside, education publisher Pearson was on the back foot after Credit Suisse cut its price target on the stock.
Paper and packaging group Mondi was in the red after a downgrade to ‘neutral’ at Bank of America Merrill Lynch, which said it was taking a more cautious view on containerboard.
WPP was also hit by a downgrade at Merrill, which cut the stock to ‘underperform’, citing high exposure to media.
FTSE 100 - Risers
NMC Health (NMC) 1,338.00p 6.49%
Taylor Wimpey (TW.) 209.90p 3.91%
Vodafone Group (VOD) 156.18p 3.01%
Centrica (CNA) 90.16p 2.95%
Morrison (Wm) Supermarkets (MRW) 192.60p 1.93%
JD Sports Fashion (JD.) 856.20p 1.83%
Next (NXT) 6,846.00p 1.75%
Croda International (CRDA) 5,190.00p 1.47%
Reckitt Benckiser Group (RB.) 6,176.00p 1.45%
Coca-Cola HBC AG (CDI) (CCH) 2,718.00p 1.42%
FTSE 100 - Fallers
Pearson (PSON) 606.00p -3.13%
Mondi (MNDI) 1,625.50p -2.84%
Evraz (EVR) 402.70p -2.38%
Johnson Matthey (JMAT) 2,921.00p -2.08%
Smith (DS) (SMDS) 370.50p -1.38%
Halma (HLMA) 2,088.00p -1.28%
WPP (WPP) 1,049.50p -1.22%
Ashtead Group (AHT) 2,442.00p -1.09%
Prudential (PRU) 1,456.00p -1.05%
BT Group (BT.A) 187.54p -0.98%