FTSE 100 movers: Rolls-Royce rallies; GVC takes a hit
London’s FTSE 100 was down 0.2% at 6,006.40 in afternoon trade on Monday.
Retailer Next, Premier Inn owner Whitbread, Primark owner AB Foods and InterContinental Hotels were all weaker amid the prospect of further Covid restrictions in England.
Gambling group GVC was also in the red as it said it would take a £40m profits hit after being awarded four licences to operate in Germany.
Aveva lost ground as the industrial software group said first-half revenue would be broadly in line with expectations and maintained full-year guidance.
On the upside, engine maker Rolls-Royce was the top performer.
CMC Markets analyst Michael Hewson said: "Rolls Royce shares have continued to recover after last week’s share price surge saw the best weekly performance in over 30 years. While some have suggested that part of the rebound may have been partly driven by bid speculation, this seems unlikely given the failure of KIO and Singapore’s GIC in this regard, with the UK government's golden stake a big obstacle.
"It seems more likely that having removed the doubts over its short-term future, with the securing of extra funding, investors are taking a longer-term view that the company is now in better shape to re-orientate its business model to deal with the challenges of the next ten years."
FTSE 100 - Risers
Rolls-Royce Holdings (RR.) 229.90p 3.00%
Scottish Mortgage Inv Trust (SMT) 1,053.00p 2.83%
Intermediate Capital Group (ICP) 1,396.00p 2.35%
Evraz (EVR) 364.00p 2.05%
Antofagasta (ANTO) 1,034.50p 1.97%
Smith (DS) (SMDS) 311.20p 1.97%
Ocado Group (OCDO) 2,427.00p 1.89%
Barratt Developments (BDEV) 552.80p 1.88%
SSE (SSE) 1,320.00p 1.85%
Hargreaves Lansdown (HL.) 1,567.50p 1.79%
FTSE 100 - Fallers
Next (NXT) 6,172.00p -4.43%
Whitbread (WTB) 2,323.00p -3.33%
Aveva Group (AVV) 4,604.00p -2.79%
GVC Holdings (GVC) 1,066.00p -2.25%
Associated British Foods (ABF) 1,868.00p -2.12%
Smiths Group (SMIN) 1,412.50p -2.08%
Compass Group (CPG) 1,230.00p -1.95%
BP (BP.) 218.15p -1.78%
InterContinental Hotels Group (IHG) 4,264.00p -1.73%
Royal Dutch Shell 'A' (RDSA) 999.40p -1.67%