FTSE 100 movers: Smurfit Kappa in the box seat; Hikma out of favour
By Frank Prenesti
Date: Friday 29 Apr 2022
(Sharecast News) - The FTSE 100 was up 0.78% at 7,567.69 at 1521 BST.
Shares in packaging company Smurfit Kappa gained as the company said both revenue and underlying earnings had grown by a third in the three months ended 31 March, reflecting the "significant, ongoing capital investment" made by the group to support customer growth and security of supply.
Revenues were up 33% year-on-year at €3.02bn, while EBITDA had also grown 33% to €514.0m, with an EBITDA margin of 17% for the period.
The news also boosted shares in sector peers Mondi and DS Smith.
On the downside, shares in Hikma Pharmaceuticals shares fell as the company reported headwinds at its generics business. The company on Friday said the division had been hit "by increased competition and a challenging pricing environment", resulting in a "slow" start to the year.
Hikma said it continued to expect full-year generics revenue growth of 8% - 10%, weighted towards the second half.
NatWest Bank fell despite reporting soaring first quarter profit driven by a rise in interest rates and income. The state-backed bank said pre-tax profits for the three months to March 31 rose 41% to £1.2bn, up from £885m the previous year, and ahead of the £755m average of analyst forecasts compiled by the bank.
FTSE 100 - Risers
Aveva Group (AVV) 2,185.00p 6.38%
Smurfit Kappa Group (CDI) (SKG) 3,436.00p 5.04%
Scottish Mortgage Inv Trust (SMT) 922.00p 4.04%
Mondi (MNDI) 1,520.00p 4.04%
Smith (DS) (SMDS) 338.00p 3.81%
Anglo American (AAL) 3,585.00p 3.81%
Sainsbury (J) (SBRY) 236.70p 3.50%
HSBC Holdings (HSBA) 508.40p 2.90%
Glencore (GLEN) 497.15p 2.84%
Endeavour Mining (EDV) 1,982.00p 2.64%
FTSE 100 - Fallers
Hikma Pharmaceuticals (HIK) 1,887.00p -7.00%
Vodafone Group (VOD) 122.58p -3.51%
NATWEST GROUP PLC ORD 100P (NWG) 217.10p -2.60%
National Grid (NG.) 1,201.50p -1.96%
Relx plc (REL) 2,397.00p -1.15%
BT Group (BT.A) 177.25p -1.14%
Hargreaves Lansdown (HL.) 926.80p -1.13%
Intertek Group (ITRK) 4,995.00p -1.05%
GlaxoSmithKline (GSK) 1,795.80p -0.81%
Associated British Foods (ABF) 1,602.50p -0.77%
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