London midday: FTSE pushes higher; Smith & Nephew boosted by results
By Michele Maatouk
Date: Tuesday 25 Feb 2025
(Sharecast News) - London stocks had pushed higher by midday on Tuesday, reversing earlier small losses, with Smith & Nephew surging on well-received results.
The FTSE 100 was up 0.4% at 8,692.07.
Russ Mould, investment director at AJ Bell, said: "The FTSE 100 made a reasonable start to trading on Tuesday despite a late slump on Wall Street and selling across Asia.
"Suggestions the Trump administration would toughen existing restrictions on exporting semiconductors to China and hints tariffs on Canada and Mexico, initially delayed, were still coming down the track hit sentiment.
"Banks and defence stocks helped keep the UK's flagship index afloat while the miners largely fell, with the sector's exposure to a volatile Chinese economy partly responsible for the weakness."
In equity markets, medical equipment maker Smith & Nephew surged as full-year profit and revenue beat downgraded forecasts, driven by a rebound in its US knee and hip implant unit, which offset continuing headwinds in China.
Shares in Lion Finance Group - formerly Bank of Georgia - rallied after it lifted its dividend and extended its share buyback programme following strong results for 2024, in which profits surged. TBC Bank was also a high riser.
Consumer goods giant Unilever slumped as it announced that its chief executive was leaving "by mutual agreement" after just 19 months at the helm.
Hein Schumacher, who became CEO in July 2023 after serving as a board member for one year, is to step down on 1 March and will exit the firm on 31 May. He will be replaced by Fernando Fernandez, who has been the company's chief financial officer since January 2024.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "Unilever's CEO is stepping down in a surprise twist, cutting short his tenure just as he was steering the consumer goods giant toward a leaner, more profitable future. In his place, the company's CFO Fernando Fernandez - a seasoned Unilever veteran - is taking the helm.
"Markets typically flinch at abrupt leadership shifts but his deep experience, and a clear mandate to push change with urgency, signal a bold move to accelerate the final stretch of Unilever's turnaround.
"With Fernandez poised to build on the groundwork already laid, this unexpected transition might be the spark that helps deliver a new version of Unilever that investors have long been waiting for."
Online trading platform CMC Markets tumbled as it said that chief financial officer Albert Soleiman has agreed to step down with immediate effect. CMC said Soleiman will remain with the company for a period of time to support an orderly handover.
Specialty chemicals group Croda reversed earlier gains to trade a touch lower as it met its profit guidance in 2024, though numbers were weighed down by a drop in annual sales and weaker margins, with the company targeting £25m of cost savings in 2025.
Market Movers
FTSE 100 (UKX) 8,692.07 0.38%
FTSE 250 (MCX) 20,509.35 0.12%
techMARK (TASX) 4,736.28 0.49%
FTSE 100 - Risers
Smith & Nephew (SN.) 1,087.50p 4.22%
HSBC Holdings (HSBA) 900.70p 2.62%
BAE Systems (BA.) 1,334.50p 2.26%
NATWEST GROUP (NWG) 452.90p 2.07%
CRH (CDI) (CRH) 8,032.00p 2.01%
Glencore (GLEN) 324.00p 1.90%
Standard Chartered (STAN) 1,195.50p 1.61%
GSK (GSK) 1,473.50p 1.45%
AstraZeneca (AZN) 11,932.00p 1.36%
Lloyds Banking Group (LLOY) 68.20p 1.31%
FTSE 100 - Fallers
Ashtead Group (AHT) 4,718.00p -2.44%
Scottish Mortgage Inv Trust (SMT) 1,050.00p -2.23%
JD Sports Fashion (JD.) 80.36p -1.86%
Associated British Foods (ABF) 1,876.00p -1.70%
Bunzl (BNZL) 3,312.00p -1.66%
Rio Tinto (RIO) 4,926.50p -1.61%
Unilever (ULVR) 4,414.00p -1.54%
Pearson (PSON) 1,331.50p -1.37%
Spirax Group (SPX) 7,525.00p -1.25%
Halma (HLMA) 2,839.00p -1.15%
FTSE 250 - Risers
Lion Finance Group (BGEO) 5,690.00p 7.16%
TBC Bank Group (TBCG) 4,245.00p 2.66%
Diversified Energy Company (DEC) 1,132.00p 2.26%
Ferrexpo (FXPO) 77.10p 2.12%
Me Group International (MEGP) 220.50p 2.08%
Greencoat UK Wind (UKW) 110.70p 2.03%
Energean (ENOG) 1,016.00p 2.01%
Deliveroo Class (ROO) 144.60p 1.97%
NB Private Equity Partners Ltd. (NBPE) 1,576.00p 1.94%
Discoverie Group (DSCV) 581.00p 1.75%
FTSE 250 - Fallers
CMC Markets (CMCX) 202.50p -4.26%
Raspberry PI Holdings (RPI) 601.50p -3.61%
Aston Martin Lagonda Global Holdings (AML) 111.10p -3.56%
Future (FUTR) 969.00p -2.61%
Polar Capital Technology Trust (PCT) 342.00p -2.56%
Allianz Technology Trust (ATT) 412.50p -2.02%
Indivior (INDV) 635.50p -1.24%
Elementis (ELM) 151.20p -1.18%
Kier Group (KIE) 152.40p -1.17%
Schroder Asia Pacific Fund (SDP) 542.00p -1.09%
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