FTSE 100 movers: Severn Trent, JD Sports rally
London’s FTSE 100 was up 0.5% at 7,642.68 in afternoon trade on Friday.
Severn Trent was the standout performer on the index after saying it was seeking to raise £1bn for a transformation plan expected to create 7,000 jobs across the Midlands.
JD Sports shot higher following well-received first-quarter results from Nike across the pond.
Land Securities was on the rise a day after an operational update, as Shore Capital raised its recommendation on the stock from 'sell' to 'hold', saying that the risk-reward is now more balanced.
Intertek also gained as Citigroup reiterated its positive stance on the shares and lifted the price target to 5,055p from 4,973p, saying the stock is now trading at historic valuation multiples.
"We are buyers of Intertek. The stock trades towards the low end of the P/E, EV/EBITDA, and EV/sales ranges seen since the start of 2013," Citi said.
FTSE 100 - Risers
Severn Trent (SVT) 2,424.00p 7.02%
JD Sports Fashion (JD.) 150.30p 5.22%
United Utilities Group (UU.) 958.20p 5.18%
Croda International (CRDA) 4,910.00p 4.20%
Ocado Group (OCDO) 603.20p 3.82%
Land Securities Group (LAND) 592.60p 3.10%
Glencore (GLEN) 475.25p 3.09%
Intertek Group (ITRK) 4,141.00p 2.53%
Rightmove (RMV) 564.80p 2.50%
SEGRO (SGRO) 721.40p 2.50%
FTSE 100 - Fallers
Vodafone Group (VOD) 76.54p -1.56%
BAE Systems (BA.) 1,006.50p -1.18%
Shell (SHEL) 2,634.00p -1.00%
Rolls-Royce Holdings (RR.) 219.50p -0.90%
BP (BP.) 536.90p -0.78%
CRH (CDI) (CRH) 4,600.00p -0.52%
Melrose Industries (MRO) 472.70p -0.46%
Ashtead Group (AHT) 5,042.00p -0.40%
Flutter Entertainment (CDI) (FLTR) 13,505.00p -0.37%
Standard Chartered (STAN) 754.40p -0.32%