FTSE 100 movers: Vodafone slumps; Entain rallies
London’s FTSE 100 was down 0.3% at 7,747.37 in afternoon trade on Wednesday.
Telecoms giant Vodafone slumped after it said revenues fell in the third quarter as the economic slowdown hit trading in Continental Europe and offset a good performance in the UK.
Russ Mould, investment director at AJ Bell, said: "Though the company is sticking with its earnings guidance, the slowdown in third quarter revenue growth in Europe suggests there is some risk to forecasts.
"Germany seems to be the big culprit as Vodafone loses customers in that market - fixing that would be a good start for Della Valle."
Going the other way, Entain rallied after it lifted its full-year profit expectations as it reported a record fourth quarter for both net gaming revenues and active customers.
The Ladbrokes owner now forecasts FY22 earnings before interest, tax, depreciation and amortisation of between £985m and £995m, up around 12% year-on-year and ahead of previous expectations of £925m to £975m.
The company said fourth-quarter net gaming revenue rose 11%. It was a record quarter for the online segment, which saw NGR grow 12% year-on-year, reflecting a successful men's World Cup, partly offset by weather disruptions to sporting fixtures.
FTSE 100 - Risers
Smiths Group (SMIN) 1,768.00p 2.37%
RS Group (RS1) 960.50p 2.18%
SEGRO (SGRO) 848.00p 2.14%
Smurfit Kappa Group (CDI) (SKG) 3,463.00p 2.09%
Mondi (MNDI) 1,552.50p 1.94%
Ocado Group (OCDO) 658.00p 1.86%
Berkeley Group Holdings (The) (BKG) 4,221.00p 1.83%
CRH (CDI) (CRH) 3,821.50p 1.81%
WPP (WPP) 960.40p 1.76%
Entain (ENT) 1,513.50p 1.68%
FTSE 100 - Fallers
Fresnillo (FRES) 796.20p -3.07%
Anglo American (AAL) 3,361.00p -3.04%
Rio Tinto (RIO) 6,161.00p -2.50%
Vodafone Group (VOD) 91.11p -2.16%
United Utilities Group (UU.) 1,040.50p -1.65%
Abrdn (ABDN) 209.20p -1.60%
Reckitt Benckiser Group (RKT) 5,682.00p -1.53%
Aviva (AV.) 448.90p -1.49%
Burberry Group (BRBY) 2,426.00p -1.42%
Haleon (HLN) 319.70p -1.40%