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FTSE 100 movers: Paddy Power gains on results but Next takes a tumble

By Michele Maatouk

Date: Wednesday 01 Nov 2017

FTSE 100 movers: Paddy Power gains on results but Next takes a tumble

(ShareCast News) - London's FTSE 100 was up 0.1% to 7,502.81 in afternoon trade on Wednesday as investors digested a better-than-expected reading on UK manufacturing and looked to the Bank of England's rate announcement.
Paddy Power Betfair was the standout gainer after it said trading was good in the third quarter, prompting the bookmaker to make a small upgrade to its annual profit guidance. Revenue rose 9% to £440m in the three months to the end of September, helped by strong growth at international operations. Underlying earnings increased 7% to £121m.

Irish packaging company Smurfit Kappa rallied as it posted a rise in third-quarter revenue, as it announced acquisitions in Greece and Russia to expand the group's footprint. In the three months to 30 September, revenue rose 4% to €2.1bn, while revenue in the nine-month period also increased 4%, to €6.4bn. However, pre-tax profit fell 9% in the third quarter to €170m and 17% in the year-to-date to €415m on the back of cost pressures.

Security services company G4S was on the front foot as Jefferies upgraded the stock to 'buy' from 'hold' and lifted the price target to 330p from 270p. It noted that the shares have underperformed on the back of disappointing second-quarter organic revenue growth, but said momentum should recover it he first half of 2018, helped by improving emerging markets and US wage inflation.

AstraZeneca was in the black after mixed news. The pharmaceuticals giant said the US Food and Drug Administration has granted accelerated approval to Calquence (acalabrutinib) - a kinase inhibitor indicated for the treatment of adult patients with mantle cell lymphoma who have received at least one prior therapy. However, the company also announced disappointing results for an asthma therapy it has been developing.

Standard Chartered retreated as its profit slightly exceeded expectations in the third quarter but expenses rose sharply at the emerging markets bank.


Paddy Power Betfair (PPB) 8,085.00p 4.93%
Anglo American (AAL) 1,474.50p 3.84%
BHP Billiton (BLT) 1,411.00p 3.56%
Glencore (GLEN) 375.15p 3.35%
Smurfit Kappa Group (SKG) 2,314.00p 3.12%
Rio Tinto (RIO) 3,656.00p 3.03%
Antofagasta (ANTO) 979.50p 2.62%
G4S (GFS) 286.50p 1.96%
InterContinental Hotels Group (IHG) 4,241.00p 1.65%
AstraZeneca (AZN) 5,110.00p 1.55%


Next (NXT) 4,490.00p -8.76%
Standard Chartered (STAN) 709.40p -5.46%
Marks & Spencer Group (MKS) 327.00p -4.97%
Admiral Group (ADM) 1,884.00p -2.08%
Centrica (CNA) 166.30p -2.06%
Smith & Nephew (SN.) 1,392.00p -2.04%
Associated British Foods (ABF) 3,264.00p -2.04%
Reckitt Benckiser Group (RB.) 6,609.00p -1.87%
Sainsbury (J) (SBRY) 238.10p -1.81%
Tesco (TSCO) 178.20p -1.76%


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