FTSE 100 movers: ICG jumps on update; easyJet flies lower
By Michele Maatouk
Date: Wednesday 22 Jan 2025
(Sharecast News) - London's FTSE 100 was down 0.1% at 8,539.66 in afternoon trade on Wednesday.
Intermediate Capital Group was the top gainer on index as it hailed strong fundraising in the third quarter and a 5.1% increase in quarter-on-quarter assets under management.
Halma was boosted by an upgrade to 'buy' from 'hold' at Berenberg, while Aviva jumped after an upgrade to 'overweight' from 'neutral' at JPMorgan.
Diploma rallied as Berenberg said it was one of the highest-quality UK industrial companies, with a business model that "is simple but effective", and has achieved a 15-year 15% revenue and 16% adjusted earnings per share compound annual growth rate.
The bank, which rates the shares at 'buy', said: "Management's medium-term guidance is for 5%+ organic growth a year, operating margins of 20%+ and 90%+ free cash flow conversion, with cash proceeds being used to drive further M&A and achieve double-digit EPS growth."
EasyJet was under the cosh even as it said it was on track to hit targets this financial year after an in-line performance over its first quarter, as losses halved year-on-year.
The company reported a headline loss before tax of £61m for the three months to 31 December, compared with a loss of £126m a year earlier, as group revenues rose 13% to £2.04bn.
EasyJet said it was seeing strong demand heading into a traditionally busy Easter period, while bookings continue to build for summer.
Auto Trader was also in the red after BNP Paribas Exane slashed its price target on the shares.
FTSE 100 - Risers
Intermediate Capital Group (ICG) 2,254.00p 6.42%
Halma (HLMA) 2,961.00p 4.44%
Aviva (AV.) 512.60p 3.77%
Entain (ENT) 701.00p 3.15%
Diploma (DPLM) 4,584.00p 2.73%
Rolls-Royce Holdings (RR.) 607.20p 2.22%
Smiths Group (SMIN) 1,889.00p 2.05%
St James's Place (STJ) 938.00p 1.90%
Scottish Mortgage Inv Trust (SMT) 1,074.00p 1.80%
Pershing Square Holdings Ltd NPV (PSH) 4,256.00p 1.77%
FTSE 100 - Fallers
easyJet (EZJ) 490.60p -4.03%
Auto Trader Group (AUTO) 773.80p -2.17%
United Utilities Group (UU.) 980.40p -1.92%
Vodafone Group (VOD) 68.32p -1.90%
Croda International (CRDA) 3,307.00p -1.49%
Diageo (DGE) 2,395.00p -1.42%
Coca-Cola HBC AG (CDI) (CCH) 2,780.00p -1.42%
Smurfit Westrock (DI) (SWR) 4,434.00p -1.36%
Centrica (CNA) 136.60p -1.34%
Severn Trent (SVT) 2,496.00p -1.15%
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