FTSE 100 movers: Phoenix Group rallies; JD Sports slumps on Nike results
By Michele Maatouk
Date: Friday 22 Mar 2024
(Sharecast News) - London's FTSE 100 was up 0.6% at 7,930.40 in afternoon trade on Friday.
Phoenix Group jumped to the top of the index after a robust set of results for 2023, with total cash generation of £2.024bn exceeding its upgraded target of £1.8bn for the year.
The company said that included a substantial benefit of around £400m from the part VII transfer of Standard Life and Phoenix Life, announced in November. It achieved £1.514bn in incremental new business long-term cash generation, surpassing its 2025 target of £1.5bbn two years ahead of schedule.
On the downside, JD Sports slid as Nike fell after warning that sales will take a hit this year as it works to realign merchandise to better match what shoppers are after.
Vodafone was in the black as the Competition and Markets Authority said that it and Three will need to find ways to assuage its competition concerns and show that their planned $19bn merger would not leave consumers worse off or face a full investigation.
FTSE 100 - Risers
Phoenix Group Holdings (PHNX) 535.00p 9.59%
Reckitt Benckiser Group (RKT) 4,435.00p 3.14%
NATWEST GROUP (NWG) 260.10p 2.64%
Vodafone Group (VOD) 68.92p 2.10%
Hikma Pharmaceuticals (HIK) 1,908.00p 1.84%
Lloyds Banking Group (LLOY) 52.42p 1.81%
WPP (WPP) 741.20p 1.79%
Croda International (CRDA) 5,088.00p 1.68%
BT Group (BT.A) 108.80p 1.63%
Airtel Africa (AAF) 99.30p 1.59%
FTSE 100 - Fallers
JD Sports Fashion (JD.) 109.00p -6.92%
DCC (CDI) (DCC) 5,668.00p -1.32%
Frasers Group (FRAS) 793.00p -1.25%
International Consolidated Airlines Group SA (CDI) (IAG) 164.65p -1.23%
Standard Chartered (STAN) 669.40p -0.98%
Rentokil Initial (RTO) 471.70p -0.97%
Rio Tinto (RIO) 5,000.00p -0.95%
Halma (HLMA) 2,342.00p -0.85%
Taylor Wimpey (TW.) 141.20p -0.74%
3i Group (III) 2,729.00p -0.69%
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