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FTSE 100 movers: BT rallies; Halma under the cosh

By Michele Maatouk

Date: Tuesday 14 Jul 2020

FTSE 100 movers: BT rallies; Halma under the cosh

(Sharecast News) - London's FTSE 100 was down 0.5% at 6,145.54 in afternoon trade on Tuesday.
Halma was under the cosh as it reported record annual profit and revenue, underpinned by acquisitions, but warned that adjusted pre-tax profit for FY2021 will fall.

In the year to the end of March, adjusted pre-tax profit rose 9% to £267m, while statutory pre-tax profit was 8% higher at £224.1m. Revenue pushed up 11% to £1.34bn and the total dividend per share was bumped up 5% to 16.50p.

However, Halma also cautioned that it expects adjusted pre-tax profit for 2021 to be around 5% to 10% lower than 2020 and more weighted to the second half than in previous year, noting that the timing and profile of recovery remains uncertain.

Polymetal was also in the red despite RBC Capital Markets reiterating its 'outperform' rating on the stock.

"There have been three block sellers in POLY's shares since May, hampering the group's relative performance," it said. "With more selling possible in Q3 post lock-ups, we see scope for a near term overhang on shares. However, once clear we see a higher free float and improved liquidity as positives. We continue to see the group as a preferred EMEA precious metals exposure."

BT was the standout gainer after the UK government said it will completely remove China's Huawei from its 5G network by 2027.

FTSE 100 - Risers

BT Group (BT.A) 115.10p 3.60%
Imperial Brands (IMB) 1,439.00p 2.27%
Admiral Group (ADM) 2,326.00p 1.75%
Phoenix Group Holdings (PHNX) 655.00p 1.55%
Vodafone Group (VOD) 126.56p 1.48%
Royal Dutch Shell 'A' (RDSA) 1,296.40p 1.34%
Royal Dutch Shell 'B' (RDSB) 1,234.00p 1.33%
Sainsbury (J) (SBRY) 198.45p 1.33%
Flutter Entertainment (FLTR) 11,115.00p 1.32%
Fresnillo (FRES) 1,005.50p 1.28%

FTSE 100 - Fallers

Scottish Mortgage Inv Trust (SMT) 903.50p -5.79%
Halma (HLMA) 2,179.00p -4.89%
JD Sports Fashion (JD.) 615.60p -4.65%
International Consolidated Airlines Group SA (CDI) (IAG) 203.90p -4.54%
Rolls-Royce Holdings (RR.) 256.40p -4.26%
Hargreaves Lansdown (HL.) 1,549.00p -3.55%
Compass Group (CPG) 1,105.50p -3.45%
InterContinental Hotels Group (IHG) 3,757.00p -3.29%
Polymetal International (POLY) 1,561.00p -3.22%
Taylor Wimpey (TW.) 139.40p -2.99%


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