FTSE 100 movers: Banks rally on Barclays results; IHG declines
By Michele Maatouk
Date: Friday 23 Oct 2020
(Sharecast News) - London's FTSE 100 was up 1.5% at 5,870.99 in afternoon trade on Friday.
Banks were the standout gainers after Barclays reported better-than-expected third-quarter profits on the back of a strong performance from its consumer businesses as bad loan provisions fell sharply from the previous three months.
The bank posted a pre-tax profit £1.1bn for the three months to September, compared with £200m a year ago and double analysts' forecasts.
Barclays was sitting pretty at the top of the index, with Lloyds, Standard Chartered, HSBC and NatWest also higher.
On the downside, InterContinental Hotels fell even as it posted an improvement in third-quarter trading with the decline in revenue slowing compared with the prior three months.
The company, which also owns the Holiday Inn chain, said comparable revenue per available room (RevPAR) fell 53% for the third quarter, an improvement on the 75% decline in the prior quarter.
London Stock Exchange was weaker as it reported a 2% increase in third-quarter total income to £600m and said its performance has been "resilient" despite "challenging market conditions".
FTSE 100 - Risers
Barclays (BARC) 112.34p 7.73%
Lloyds Banking Group (LLOY) 29.39p 5.28%
Standard Chartered (STAN) 402.00p 4.88%
HSBC Holdings (HSBA) 321.40p 4.71%
Rolls-Royce Holdings (RR.) 237.00p 4.45%
NATWEST GROUP PLC ORD 100P (NWG) 123.80p 3.99%
Melrose Industries (MRO) 133.50p 3.81%
BAE Systems (BA.) 458.60p 3.69%
British Land Company (BLND) 378.80p 3.55%
Royal Dutch Shell 'B' (RDSB) 945.50p 3.38%
FTSE 100 - Fallers
InterContinental Hotels Group (IHG) 4,168.00p -2.23%
Pearson (PSON) 510.20p -2.07%
Just Eat Takeaway.Com N.V. (CDI) (JET) 9,226.00p -1.05%
London Stock Exchange Group (LSE) 8,428.00p -1.03%
Hikma Pharmaceuticals (HIK) 2,564.00p -0.50%
Sage Group (SGE) 696.20p -0.34%
Fresnillo (FRES) 1,227.50p -0.08%
Unilever (ULVR) 4,718.00p -0.06%
Relx plc (REL) 1,637.50p 0.06%
DCC (DCC) 5,010.00p 0.08%
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN