FTSE 100 movers: Coca-Cola HSBC fizzes higher; British Land falls on results
By Michele Maatouk
Date: Wednesday 13 Nov 2019
(Sharecast News) - London's FTSE 100 was down 0.2% at 7,353.32 in afternoon trade on Wednesday.
British Land retreated as it reported a drop in first-half profit and the value of its portfolio amid challenging retail markets.
In the six months to the end of September, underlying pre-tax profit fell to £158m from £175m the year before while underlying earnings per share were down 6.4% to 16.1p. Meanwhile, revenue declined 34% to £328m and the value of its portfolio fell 4.3%, with retail valuations down 10.7% and office valuations up 0.4%.
Stocks with exposure to Asia fell amid escalating unrest in Hong Kong, with Prudential and HSBC both in the red.
Going the other way, Coca-Cola HBC fizzed higher as the bottler of Coca-Cola products hailed a "solid" third quarter despite adverse weather conditions.
Engineer Smiths Group was up after reporting a rise in first-quarter revenue and backing its expectations for the full year.
In an update for the three months to the end of October, the company said underlying revenue rose 11% thanks to continued good growth in John Crane in both original equipment and aftermarket and strong growth in its detection business, which was helped by previously-announced contract wins.
SSE gained after the energy utility said it swung to an interim profit and lifted its full-year earnings estimates, but warned of political uncertainty due to the Labour Party plan to renationalise energy companies if elected next month.
Spirax-Sarco Engineering was also on the front after a well-received trading update.
FTSE 100 - Risers
Coca-Cola HBC AG (CDI) (CCH) 2,501.00p 6.02%
Ocado Group (OCDO) 1,127.50p 4.93%
Smiths Group (SMIN) 1,680.50p 3.86%
Fresnillo (FRES) 643.40p 2.78%
SSE (SSE) 1,325.00p 2.71%
Polymetal International (POLY) 1,190.00p 2.63%
Spirax-Sarco Engineering (SPX) 8,395.00p 2.19%
NMC Health (NMC) 2,310.00p 1.90%
AstraZeneca (AZN) 7,398.00p 1.69%
Diageo (DGE) 3,107.00p 1.54%
FTSE 100 - Fallers
St James's Place (STJ) 1,030.00p -3.51%
British Land Company (BLND) 557.80p -3.03%
Prudential (PRU) 1,309.50p -2.89%
HSBC Holdings (HSBA) 573.30p -2.62%
Hargreaves Lansdown (HL.) 1,756.50p -2.58%
Taylor Wimpey (TW.) 165.70p -2.50%
Legal & General Group (LGEN) 270.00p -1.96%
Centrica (CNA) 73.34p -1.95%
ITV (ITV) 135.65p -1.92%
Aviva (AV.) 430.70p -1.76%
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