Register for Digital Look

FTSE 100 movers: United Utilities, BAE Systems gain

By Michele Maatouk

Date: Monday 02 Oct 2023

FTSE 100 movers: United Utilities, BAE Systems gain

(Sharecast News) - London's FTSE 100 was down 0.6% at 7,560.77 in afternoon trade on Monday.
United Utilities gained as it unveiled its plans for the 2025-2030 period, projecting expenditure of £13.7bn, leading to 8.7% yearly growth in regulated capital value.

The plan will support 30,000 jobs in the north west, including 7,000 new positions, and provide affordability schemes worth £525m, aiding over one-sixth of its customers.

BAE Systems rose as the defence contractor was awarded £3.95bn of funding by the Ministry of Defence for the next phase of the UK's next-generation nuclear-powered attack submarine programme, known as SSN-AUKUS.

The shares were also boosted by an upgrade to 'buy' from 'hold' at Berenberg. It said the upgrade reflects "signs of a pivot in capital allocation towards strategic M&A, in addition to maintaining appropriate returns to shareholders, and our expectation that BAE will deliver a 10% EPS CAGR over 2023-27".

Antofagasta was higher after Citi lifted its stance on shares of the Chilean copper miner to 'buy' on volume recovery potential and valuation.

FTSE 100 - Risers

United Utilities Group (UU.) 965.00p 1.77%
Severn Trent (SVT) 2,400.00p 1.48%
InterContinental Hotels Group (IHG) 6,154.00p 1.32%
Vodafone Group (VOD) 77.55p 0.95%
BAE Systems (BA.) 1,006.50p 0.87%
International Consolidated Airlines Group SA (CDI) (IAG) 149.15p 0.78%
Entain (ENT) 939.80p 0.75%
Antofagasta (ANTO) 1,439.50p 0.73%
Haleon (HLN) 343.25p 0.70%
Airtel Africa (AAF) 126.40p 0.64%

FTSE 100 - Fallers

Diploma (DPLM) 2,924.00p -2.66%
Rentokil Initial (RTO) 594.00p -2.65%
Beazley (BEZ) 539.50p -2.53%
RS Group (RS1) 719.80p -2.12%
Hargreaves Lansdown (HL.) 758.20p -1.94%
St James's Place (STJ) 817.00p -1.83%
Smith & Nephew (SN.) 1,004.50p -1.81%
3i Group (III) 2,037.00p -1.74%
Kingfisher (KGF) 219.60p -1.66%
Prudential (PRU) 874.20p -1.64%


Email this article to a friend

or share it with one of these popular networks:

Top of Page