FTSE 100 movers: Beazley bounces on capital return; WPP slumps
By Michele Maatouk
Date: Thursday 22 Feb 2024
(Sharecast News) - London's FTSE 100 was up 0.2% at 7,680.85 in afternoon trade on Thursday.
Beazley rallied as it upgraded its guidance on the undiscounted combined ratio from low-80s to mid-70s for 2023 thanks to a better-than-expected claims experience during the year. It also said that as well as an ordinary dividend, shareholders will receive an additional capital return for the year of around $300m.
Rolls-Royce jumped as it reported a more than doubling of its full-year profits, underpinned by its civil aerospace segment. Full-year 2023 underlying operating profit came in at £1.6bn, up from £652m a year earlier, with revenues rising to £15.4bn from £12.7bn. Analysts were expecting operating profit of £1.4bn.
Lloyds Bank gained as it reported a 57% jump in full-year profits and announced another £2bn share buyback, but also set aside £450m for the regulatory probe into UK motor financing.
Hikma was on the front foot as it bumped up its dividend by almost a third following double-digit growth in full-year core revenues and profits in 2023.
Anglo American rose despite slashing its annual dividend by a half after seeing profits plunge in 2023 on the back of impairments and downturns in the platinum and diamond markets.
WPP slumped even as the advertising giant's full-year results came in as expected.
FTSE 100 - Risers
Beazley (BEZ) 637.00p 9.45%
Rolls-Royce Holdings (RR.) 360.60p 9.44%
Lloyds Banking Group (LLOY) 46.06p 6.40%
Hikma Pharmaceuticals (HIK) 2,125.00p 6.38%
Scottish Mortgage Inv Trust (SMT) 792.40p 3.91%
Intertek Group (ITRK) 4,629.00p 3.37%
Rightmove (RMV) 550.40p 3.30%
Anglo American (AAL) 1,774.40p 3.29%
Entain (ENT) 921.40p 2.51%
Ashtead Group (AHT) 5,512.00p 2.42%
FTSE 100 - Fallers
WPP (WPP) 739.40p -5.25%
Tesco (TSCO) 277.20p -2.91%
Endeavour Mining (EDV) 1,277.00p -2.67%
Land Securities Group (LAND) 631.80p -2.17%
SSE (SSE) 1,575.50p -2.11%
Glencore (GLEN) 379.75p -1.63%
Sainsbury (J) (SBRY) 255.10p -1.62%
Unilever (ULVR) 3,996.00p -1.44%
Berkeley Group Holdings (The) (BKG) 4,740.00p -1.29%
AstraZeneca (AZN) 9,974.00p -1.27%
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