FTSE 100 movers: GVC and Flutter rally on deal news; Rolls-Royce retreats
By Michele Maatouk
Date: Friday 25 Sep 2020
(Sharecast News) - London's FTSE 100 was flat at 5,821.73 in afternoon trade on Friday.
GVC Holdings and Flutter Entertainment rallied after FTSE 250 peer William Hill confirmed that US private equity firm Apollo Global Management and Caesars Entertainment have tabled rival cash takeover offers for the bookmaker.
United Utilities was a high riser after Barclays said it remained its preferred stock in the water sector and lifted its price target on the overweight-rated stock to 1,125p from 1,020p. The bank also reinstated its coverage of Pennon at 'equalweight' with a 1,060p price target.
Pennon said earlier that it was on track to report first-half results in line with its own expectations and was considering the best use of funds from the sale of its waste management business.
Hotel chain InterContinental Hotels and engine maker Rolls-Royce were both under the cosh amid concerns about rising Covid-19 cases and the impact on the travel and airline industries.
FTSE 100 - Risers
GVC Holdings (GVC) 938.40p 9.68%
Flutter Entertainment (FLTR) 12,380.00p 4.30%
Avast (AVST) 542.00p 3.04%
M&G (MNG) 150.55p 3.01%
Pearson (PSON) 550.40p 2.57%
United Utilities Group (UU.) 872.60p 2.37%
Homeserve (HSV) 1,250.00p 2.12%
Pennon Group (PNN) 1,060.00p 1.92%
National Grid (NG.) 852.60p 1.72%
Imperial Brands (IMB) 1,402.50p 1.63%
FTSE 100 - Fallers
Standard Chartered (STAN) 336.70p -2.69%
Smiths Group (SMIN) 1,292.50p -2.42%
RSA Insurance Group (RSA) 444.20p -2.40%
Smurfit Kappa Group (SKG) 2,832.00p -2.34%
Admiral Group (ADM) 2,675.00p -2.27%
Rio Tinto (RIO) 4,707.50p -2.18%
InterContinental Hotels Group (IHG) 3,891.00p -1.94%
Rolls-Royce Holdings (RR.) 147.40p -1.80%
Auto Trader Group (AUTO) 545.00p -1.66%
Sainsbury (J) (SBRY) 198.80p -1.63%
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