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FTSE 100 movers: Auto Trader slumps on COO departure, WPP slides again
(Sharecast News) - London's FTSE 100 was down 0.6% at 9,706.70 in afternoon trade on Friday. Housebuilder Persimmon was up as data from Nationwide showed that house price growth eased a little in October but the housing market remained broadly stable in recent months.
Prices were up 0.3% on the month, down from 0.5% growth in September. On the year, however, house prices rose 2.4%, up from 2.2% the month before.
The average price of a home stood at £272,226 in October, up from £271,995 a month earlier.
Nationwide chief economist Robert Gardner said: "The housing market has remained broadly stable in recent months, with house prices rising at a modest pace and the number of mortgages approved for house purchase maintained at similar levels to those prevailing before the pandemic struck.
"Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double the level they were before Covid struck and house prices are close to all-time highs."
WPP fell sharply again, having tumbled on Thursday as it warned on profits due to a slump in revenue and said it had launched a strategic review, with new boss Cindy Rose describing the advertising firm's performance as "unacceptable".
Auto Trader skidded as it announced that Catherine Faiers was stepping down as chief operating officer.
Faiers will be joining gifts and greeting card retailer Moonpig as its new CEO.
FTSE 100 - Risers
Metlen Energy & Metals (MTLN) 44.22p 2.25% Smith & Nephew (SN.) 1,393.00p 1.90% Hikma Pharmaceuticals (HIK) 1,853.00p 1.65% BAE Systems (BA.) 1,881.00p 1.10% Babcock International Group (BAB) 1,211.00p 0.92% Persimmon (PSN) 1,222.00p 0.74% Weir Group (WEIR) 3,000.00p 0.67% Airtel Africa (AAF) 276.20p 0.51% Vodafone Group (VOD) 91.76p 0.48% Haleon (HLN) 352.30p 0.43%
FTSE 100 - Fallers
WPP (WPP) 288.50p -4.63% Burberry Group (BRBY) 1,227.00p -4.14% Smurfit Westrock (DI) (SWR) 2,695.00p -3.72% Auto Trader Group (AUTO) 780.80p -3.46% Whitbread (WTB) 2,882.00p -2.80% InterContinental Hotels Group (IHG) 9,148.00p -2.76% Flutter Entertainment (DI) (FLTR) 17,470.00p -2.21% Prudential (PRU) 1,041.50p -1.98% Beazley (BEZ) 929.50p -1.85% Next (NXT) 14,295.00p -1.55%
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