FTSE 100 movers: BT surges; Sage hit after cutting revenue guidance
By Michele Maatouk
Date: Thursday 16 May 2024
(Sharecast News) - London's FTSE 100 was flat at 8,442.62 in afternoon trade on Thursday.
BT jumped to the top of the index despite the telecoms giant reporting a 31% drop in annual profits in the year to 31 March, as it laid out plans to save £3bn of costs a year by the end of the decade.
Sage Group slumped despite posting solid first-half results, after it trimmed its annual revenue guidance.
EasyJet flew lower as it said chief executive Johan Lundgren was to step down after more than seven years in the role. Lundgren, who has held the position since December 2017, will retire in early 2025. He will be replaced by current chief financial officer Kenton Jarvis.
The announcement came as easyJet posted a reduction in first-half losses. Traditionally its weaker half, as it does not include summer holidays, the headline pre-tax loss for the six months to 31 March narrowed to £350m from £411m a year previously.
Convatec was in the red despite keeping its top-level guidance for 2024, as growth forecasts in the advanced wound care division were reduced due to "short-term uncertainty".
Kingfisher and Bunzl both fell as they traded without entitlement to the dividend.
FTSE 100 - Risers
BT Group (BT.A) 129.30p 14.27%
Standard Chartered (STAN) 793.40p 2.48%
Burberry Group (BRBY) 1,126.50p 2.22%
CRH (CDI) (CRH) 6,762.00p 2.21%
Prudential (PRU) 820.40p 2.07%
Rio Tinto (RIO) 5,621.00p 1.79%
HSBC Holdings (HSBA) 714.20p 1.78a
B&M European Value Retail S.A. (DI) (BME) 543.40p 1.53%
Sainsbury (J) (SBRY) 281.20p 1.44%
Barratt Developments (BDEV) 518.00p 1.33%
FTSE 100 - Fallers
Sage Group (SGE) 1,105.00p -7.72%
easyJet (EZJ) 506.80p -4.27%
Kingfisher (KGF) 259.30p -3.61%
Croda International (CRDA) 4,754.00p -2.64%
Pearson (PSON) 959.20p -2.56%
Convatec Group (CTEC) 259.80p -2.40%
International Consolidated Airlines Group SA (CDI) (IAG) 178.05p -2.20%
Entain (ENT) 767.60p -2.09%
Bunzl (BNZL) 3,052.00p -1.86%
Ocado Group (OCDO) 356.60p -1.79%
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