FTSE 100 movers: Prudential rallies; Smurfit gives back some gains
By Michele Maatouk
Date: Monday 24 Jun 2024
(Sharecast News) - London's FTSE 100 was up 0.7% at 8,297.24 in afternoon trade on Monday.
Prudential was the standout gainer on the index after saying it would return $2bn to investors via a share buyback to be completed by mid-2026.
Richard Hunter, head of markets at Interactive Investor, said: "The share price hike provides some relief to what has been a torrid time for the insurer, where doubts over China's economic performance in particular have weighed heavily on the stock, forcing the shares lower by more than 35% over the last year."
Frasers Group gained after saying it entered a multi-year partnership with ecommerce group THG that includes the integration of the customer credit and loyalty proposition, Frasers Plus into THG's Ingenuity platform and the acquisition of THG's luxury brand portfolio. THG also rallied.
Packaging group Smurfit Kappa fell, having risen last week on confirmation that Smurfit WestRock would be included in S&P Dow Jones Indices from 9 July.
FTSE 100 - Risers
Prudential (PRU) 754.00p 6.62%
Frasers Group (FRAS) 897.50p 3.05%
Antofagasta (ANTO) 2,117.00p 2.87%
JD Sports Fashion (JD.) 129.40p 2.46%
Convatec Group (CTEC) 243.00p 2.45%
WPP (WPP) 763.60p 2.09%
Burberry Group (BRBY) 1,006.50p 1.93%
Associated British Foods (ABF) 2,514.00p 1.86%
British American Tobacco (BATS) 2,533.00p 1.65%
Entain (ENT) 674.20p 1.60%
FTSE 100 - Fallers
Flutter Entertainment (DI) (FLTR) 14,670.00p -2.95%
Smurfit Kappa Group (CDI) (SKG) 3,580.00p -2.02%
Berkeley Group Holdings (The) (BKG) 4,666.00p -1.48%
National Grid (NG.) 891.60p -0.87%
Smith & Nephew (SN.) 998.00p -0.82%
Sainsbury (J) (SBRY) 260.60p -0.76%
Kingfisher (KGF) 247.40p -0.68%
Severn Trent (SVT) 2,449.00p -0.65%
United Utilities Group (UU.) 1,003.50p -0.64%
Sage Group (SGE) 1,073.50p -0.56%
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