FTSE 100 movers: Housebuilders rally; JD Sports hit by downgrade
By Michele Maatouk
Date: Thursday 23 Jan 2025
(Sharecast News) - London's FTSE 100 was up 0.2% at 8,559.20 in afternoon trade on Thursday.
Housebuilders were the best performers, with Persimmon, Barratt Redrow and Taylor Wimpey at the top of the leader board.
Associated British Foods fell after it cut its outlook for Primark sales growth in 2025, as it said warmer autumn weather and cautious consumers dented UK revenue in the 16 weeks to 4 January.
AB Foods said it was now targeting low-single digit sales growth for Primark, down from previous guidance of mid-single digit.
The company said it still expects Primark's adjusted operating profit margin to remain broadly in line with last year's level, as gross margins have continued to improve and good cost management offsets inflation and the step-up in investment.
JD Sports was also in the red after a downgrade to 'neutral' from 'buy' at Citi, which cut its price target on the stock to 95p from 150p. Citi pointed to a softer growth outlook.
FTSE 100 - Risers
Persimmon (PSN) 1,241.00p 2.48%
Barratt Redrow (BTRW) 438.30p 1.72%
Taylor Wimpey (TW.) 116.90p 1.70%
Centrica (CNA) 137.15p 1.67%
SEGRO (SGRO) 713.20p 1.51%
Rightmove (RMV) 646.80p 1.51%
Intermediate Capital Group (ICG) 2,292.00p 1.51%
NATWEST GROUP (NWG) 423.80p 1.46%
Smurfit Westrock (DI) (SWR) 4,505.00p 1.33%
Weir Group (WEIR) 2,380.00p 1.28%
FTSE 100 - Fallers
Entain (ENT) 671.80p -4.95%
Associated British Foods (ABF) 1,870.50p -3.43%
JD Sports Fashion (JD.) 80.96p -2.43%
Marks & Spencer Group (MKS) 331.90p -2.18%
Smith & Nephew (SN.) 1,014.50p -1.27%
WPP (WPP) 728.80p -1.25%
Flutter Entertainment (DI) (FLTR) 21,560.00p -1.24%
Glencore (GLEN) 372.55p -1.23%
Scottish Mortgage Inv Trust (SMT) 1,062.50p -1.16%
Tesco (TSCO) 366.10p -1.11%
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