FTSE 100 movers: Tui travels higher on Stifel note; Whitbread under pressure
By Michele Maatouk
Date: Monday 22 Jul 2019
(Sharecast News) - London's FTSE 100 was up 0.1% at 7,512.52 in afternoon trade on Monday.
Tui was the standout gainer as Stifel resumed coverage of the stock at 'buy' with a 940p price target offering a 32% total shareholder return.
Stifel said the strong market reaction to the company's aborted profit guidance has left the shares looking oversold, with free cash flow inflection underpinning a 9% dividend yield and sum-of-the-parts valuation support.
Paper and packaging companies DS Smith, Mondi and Smurfit Kappa were all in the green as Finnish peer Stora Enso was upgraded by Nordea.
Oil giant BP was on the front foot amid heightened Middle East tensions after Iran seized a British tanker last week.
On the downside, Premier Inn owner Whitbread fell after The Telegraph reported that Manhattan-based specialist high-frequency trading firm Jane Street Global Trading was leading a £1.5bn bet by hedge funds against the company. Also on Monday, Whitbread said it had completed a programme to return £2.5bn to shareholders following the sale of Costa Coffee to Coca-Coca last year.
British Gas owner Centrica was weaker following reports over the weekend that it's planning to slash its dividend for the second time in four years.
FTSE 100 - Risers
TUI AG Reg Shs (DI) (TUI) 838.00p 4.23%
Smith (DS) (SMDS) 370.40p 3.70%
Evraz (EVR) 661.00p 2.48%
Just Eat (JE.) 640.60p 2.30%
Mondi (MNDI) 1,803.00p 2.30%
Ocado Group (OCDO) 1,220.00p 2.13%
Smurfit Kappa Group (SKG) 2,584.06p 1.65%
Pearson (PSON) 896.60p 1.63%
International Consolidated Airlines Group SA (CDI) (IAG) 456.50p 1.42%
BP (BP.) 524.70p 1.35%
FTSE 100 - Fallers
Whitbread (WTB) 4,677.00p -4.59%
Centrica (CNA) 87.98p -2.53%
ITV (ITV) 107.70p -2.27%
Morrison (Wm) Supermarkets (MRW) 205.80p -1.72%
St James's Place (STJ) 1,080.00p -1.64%
Land Securities Group (LAND) 832.60p -1.51%
British Land Company (BLND) 529.80p -1.49%
Standard Chartered (STAN) 703.80p -1.32%
DCC (DCC) 6,794.00p -1.31%
BT Group (BT.A) 186.74p -1.19%
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