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FTSE 100 movers: Bunzl rallies on guidance upgrade; miners drop
(Sharecast News) - London's FTSE 100 was down 0.2% at 10,421.65 in afternoon trade on Tuesday. Bunzl jumped to the top of the index as it boosted annual guidance following a stronger-than-expected start to the year.
Updating on trading, the packing and business supplies giant said group revenue grew by around 4% on a constant currency basis in the six months to 30 June, supported by a robust performance in North America, its biggest market. On an underlying basis, revenues grew by 3%.
Bunzl said it was seeing "encouraging" volume growth, much of which driven by North America, while acquisitions contributed growth of 1% net of disposals during the first half.
Interim adjusted operating profit growth was "good", it said, although it did not provide any figures.
As a result, the group said: "While we remain mindful of continuing macroeconomic and geopolitical uncertainties, we are encouraged by our performance and upgrade our 2026 guidance." It now expects annual revenue growth to be driven by "modest" underlying revenue improvements, supported by some inflation and a "small benefit" from acquisitions.
Heavily-weighted miners Antofagasta, Glencore, Anglo American and Rio Tinto all fell. Russ Mould, investment director at AJ Bell, said the mining sector was weaker "amid concern about the global economy".
Scottish Mortgage Investment Trust and Pershing Square - both of which have significant exposure to the US technology sector - were sharply lower following the tech selloff on Wall Street on Monday.
FTSE 100 - Risers
Bunzl (BNZL) 2,584.00p 4.71% Babcock International Group (BAB) 1,016.00p 3.36% Entain (ENT) 558.80p 2.27% Relx plc (REL) 2,372.00p 1.98% AstraZeneca (AZN) 13,550.00p 1.91% British American Tobacco (BATS) 4,533.00p 1.89% BT Group (BT.A) 195.65p 1.69% The Sage Group (SGE) 814.40p 1.57% London Stock Exchange Group (LSEG) 8,374.00p 1.18% Diageo (DGE) 1,531.50p 0.92%
FTSE 100 - Fallers
Antofagasta (ANTO) 3,700.00p -6.32% Glencore (GLEN) 528.10p -5.67% Fresnillo (FRES) 2,836.00p -5.62% Anglo American (AAL) 3,699.00p -5.22% Scottish Mortgage Inv Trust (SMT) 1,381.00p -4.19% Rio Tinto (RIO) 7,215.00p -3.90% IMI (IMI) 2,918.00p -3.05% Pershing Square Holdings Ltd NPV (PSH) 3,700.00p -2.99% Burberry Group (BRBY) 1,070.50p -2.72% Computacenter (CCC) 4,198.00p -2.46%
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