FTSE 100 movers: Centrica, National Grid on the rise
By Michele Maatouk
Date: Monday 24 Feb 2025
(Sharecast News) - London's FTSE 100 was down 0.3% at 8,629.72 in afternoon trade on Monday.
British Gas owner Centrica was still on the rise after well-received results last Thursday, when it hiked its dividend and announced a £500m share buyback as full-year earnings beat forecasts.
National Grid gained as it announced the sale of its US onshore renewables business, National Grid Renewables, to Brookfield Asset Management and its institutional partners, including Brookfield Renewable Partners, for $1.7bn.
Russ Mould, investment director at AJ Bell, said: "National Grid has to spend a lot of money to upgrade its electricity networks on both sides of the Atlantic and slimming down in other areas of the business has always been a component of that strategy.
"The sale of the company's US onshore renewables business is not a rushed response to the Trump administration's more sceptical views on green energy, but something which has been in the works for some time, having first been announced in May last year.
"The fact the company has got the deal across the line in the new political environment might be met with some relief. The price tag looks reasonable for a set of assets which made a modest contribution to the group.
"Attention may now turn to the company's stated plan to sell its Grain LNG terminal in Kent - a proposal which attracted some controversy when it was announced over the potential impact to energy security."
On the downside, Entain and Flutter Entertainment were the worst performers on the index.
FTSE 100 - Risers
BAE Systems (BA.) 1,307.50p 4.14%
Centrica (CNA) 150.60p 3.79%
Vodafone Group (VOD) 67.94p 2.63%
GSK (GSK) 1,451.50p 1.57%
British American Tobacco (BATS) 3,007.00p 1.42%
Imperial Brands (IMB) 2,722.00p 1.42%
National Grid (NG.) 971.60p 1.40%
SSE (SSE) 1,514.00p 1.30%
Unilever (ULVR) 4,454.00p 1.30%
Airtel Africa (AAF) 139.50p 1.09%
FTSE 100 - Fallers
Entain (ENT) 695.40p -5.77%
Flutter Entertainment (DI) (FLTR) 21,260.00p -4.62%
Antofagasta (ANTO) 1,750.50p -3.82%
Scottish Mortgage Inv Trust (SMT) 1,073.00p -3.16%
Intermediate Capital Group (ICG) 2,320.00p -3.09%
Fresnillo (FRES) 753.50p -2.96%
London Stock Exchange Group (LSEG) 11,275.00p -2.68%
Diploma (DPLM) 4,516.00p -2.59%
Anglo American (AAL) 2,379.50p -2.48%
InterContinental Hotels Group (IHG) 9,672.00p -2.30%
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