London open: Stocks fall amid earnings avalanche
By Michele Maatouk
Date: Thursday 06 Mar 2025
(Sharecast News) - London stocks fell in early trade on Thursday as investors waded through another deluge of corporate news, but Admiral bucked the trend after impressive results.
At 0855 GMT, the FTSE 100 was down 0.6% at 8,707.21.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "The UK markets have failed to latch onto the positive momentum seen from its US peers last night, with the FTSE 100 opening on the back foot, though only marginally.
"There's a string of results to get through, from a giant in motor insurance to the world of legacy media, all while investors are trying to digest a major sell-off in European bonds yesterday, led by Germany, where there are expectations of a loosening of the country's strict borrowing rules.
"UK Gilts followed suit, and yields have ticked higher again in early trading this morning, with rate cut expectations coming under fresh scrutiny."
In equity markets, insurer Admiral jumped to the top of the FTSE 100 as it hiked its dividend and posted a surge in full-year profit, attributing much of the strength to its UK motor business.
Schroders was also a high riser as it announced a plan to deliver £150m of annualised cost savings alongside its full-year results.
Ladbrokes owner Entain advanced as it reported full-year earnings in line with expectations and said it was well placed for 2025.
Industrial thread maker Coats Group and broadcaster ITV also gained after full-year results.
On the downside, Melrose Industries slumped even as it said that full-year profit came in at the top end of expectations despite industry-wide supply chain issues.
Reckitt Benckiser fell as the consumer goods firm unveiled plans for a reorganisation of its divisions and said it was looking at opportunities for Mead Johnson Nutrition after a mixed 2024, as fourth-quarter sales missed estimates.
Rentokil Initial lost ground as it reported a drop in full-year profit, citing a "challenging" year and a weaker performance in North America.
Spire Healthcare tumbled as it posted full-year adjusted operating profit of £149.4m, which was below expectations of just over £157m.
Lancashire Holdings, Vesuvius and Harbour Energy also fell after results.
Market Movers
FTSE 100 (UKX) 8,707.21 -0.56%
FTSE 250 (MCX) 20,184.57 0.28%
techMARK (TASX) 4,835.50 0.05%
FTSE 100 - Risers
Admiral Group (ADM) 3,099.00p 6.83%
Schroders (SDR) 399.40p 5.05%
Antofagasta (ANTO) 1,878.50p 3.19%
Prudential (PRU) 766.00p 2.63%
easyJet (EZJ) 517.60p 2.54%
Glencore (GLEN) 329.00p 2.52%
Entain (ENT) 759.80p 2.37%
CRH (CDI) (CRH) 7,960.00p 2.18%
International Consolidated Airlines Group SA (CDI) (IAG) 334.00p 2.05%
JD Sports Fashion (JD.) 77.00p 2.04%
FTSE 100 - Fallers
Melrose Industries (MRO) 612.20p -9.97%
HSBC Holdings (HSBA) 889.70p -4.17%
Rentokil Initial (RTO) 377.00p -2.84%
LondonMetric Property (LMP) 177.20p -2.48%
Compass Group (CPG) 2,655.00p -2.39%
Experian (EXPN) 3,603.00p -2.17%
Imperial Brands (IMB) 2,711.00p -2.06%
Pearson (PSON) 1,309.50p -1.95%
Marks & Spencer Group (MKS) 369.40p -1.91%
Informa (INF) 806.00p -1.71%
FTSE 250 - Risers
RHI Magnesita N.V. (DI) (RHIM) 3,700.00p 6.78%
Coats Group (COA) 90.80p 4.73%
ITV (ITV) 72.65p 4.38%
Wizz Air Holdings (WIZZ) 1,734.00p 3.52%
Abrdn (ABDN) 178.25p 3.12%
Target Healthcare Reit Ltd (THRL) 86.00p 3.12%
Bakkavor Group (BAKK) 155.00p 2.99%
Johnson Matthey (JMAT) 1,509.00p 2.79%
Ninety One (N91) 144.30p 2.70%
Wood Group (John) (WG.) 38.80p 2.59%
FTSE 250 - Fallers
Spire Healthcare Group (SPI) 179.00p -20.27%
Harbour Energy (HBR) 197.80p -7.57%
Lancashire Holdings Limited (LRE) 578.00p -6.92%
Vesuvius (VSVS) 391.00p -4.63%
BBGI Global Infrastructure S.A. NPV (DI) (BBGI) 138.80p -2.66%
Currys (CURY) 87.00p -2.47%
Energean (ENOG) 948.00p -2.22%
Quilter (QLT) 157.80p -1.99%
Assura (AGR) 40.20p -1.95%
Foresight Environmental Infrastructure Limited (FGEN) 72.60p -1.89%
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