FTSE 100 movers: Weir boosted by Deutsche Bank upgrade; Kingfisher tumbles
By Michele Maatouk
Date: Monday 25 Nov 2024
(Sharecast News) - London's FTSE 100 was up 0.3% at 8,289.22 in afternoon trade on Monday.
JD Sports Fashion was clawing back some ground, having tumbled last Thursday as the retailer warned full-year profits would be at the lower end of forecasts after a "volatile" trading environment in October due to discounting, milder weather and consumer caution ahead of the US election.
Rentokil Initial advanced as it appointed Paul Edgecliffe-Johnson as chief financial officer with effect from 1 January 2025.
He will succeed Stuart Ingall-Tombs, who is retiring and will step down from the board at the end of the year after 17 years with the company, most recently as CFO for four years.
Weir Group was also in the black as Deutsche Bank lifted its recommendation on the shares to 'buy' from 'hold' and upped the price target to 2,200p to 2,580p.
Barclays rose despite news it had been fined £40m by the Financial Conduct Authority over alleged secret payments to Qatar during the 2008 global financial crisis to avoid a UK government bailout.
B&Q and Screwfix owner Kingfisher tumbled as it nudged down the midpoint of its full-year profit guidance after a mixed third quarter, in which group sales fell 0.6%.
The company said 2024 adjusted pre-tax profit is expected to come in between £510m and £540m, compared with a previous forecast range of £510m to £550m.
FTSE 100 - Risers
JD Sports Fashion (JD.) 99.50p 6.46%
Entain (ENT) 777.80p 3.05%
easyJet (EZJ) 532.20p 3.02%
Barratt Redrow (BTRW) 423.70p 2.44%
Rentokil Initial (RTO) 415.70p 2.21%
Weir Group (WEIR) 2,224.00p 2.21%
Prudential (PRU) 648.60p 2.14%
Hikma Pharmaceuticals (HIK) 1,989.00p 2.00%
Standard Chartered (STAN) 961.80p 1.93%
Barclays (BARC) 262.10p 1.91%
FTSE 100 - Fallers
Kingfisher (KGF) 256.20p -13.12%
Fresnillo (FRES) 635.50p -2.61%
Whitbread (WTB) 2,837.00p -2.17%
Tesco (TSCO) 349.70p -1.19%
Haleon (HLN) 376.10p -1.10%
British Land Company (BLND) 383.40p -1.08%
Smith (DS) (SMDS) 589.50p -0.67%
National Grid (NG.) 988.80p -0.50%
Land Securities Group (LAND) 607.00p -0.49%
Rolls-Royce Holdings (RR.) 543.20p -0.44%
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