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FTSE 100 movers: Bunzl rallies, Reckitt under the cosh after results
(Sharecast News) - London's FTSE 100 was down 0.1% at 10,484.75 in afternoon trade on Wednesday. Bunzl was the top gainer as it reiterated full-year guidance despite an uncertain geopolitical and macroeconomic environment after a rise in first-quarter revenues.
The company said it continued to expect operating margins to be slightly lower year-on-year with "some underlying revenue growth and a small benefit from acquisitions" after group revenue in the first quarter grew by 1.5% at constant exchange rates supported by volume growth and tariff-related price increases.
Miners Glencore and Rio Tinto both rose in tandem with copper prices.
Reckitt Benckiser was under the cosh after a weak cold and flu season weighed on first-quarter trading.
The owner of Durex, Dettol, Vanish, Nurofen and Strepsils, among many others, posted a 1.3% rise in core like-for-like sales in the first three months of the year. Within that, revenues in Europe fell 4.2% and by 0.9% in North America. But emerging markets fared better, with a 7.6% spike in sales.
Group sales - which include the Mead Johnson baby formula business, which is slated for disposal - were up 0.6%.
JD Sports lost ground as it said chair Andrew Higginson plans to step down at the conclusion of the annual general meeting on 21 July after four years in the job.
Darren Shapland, who has served as an independent non-executive director since June 2023, will become interim chair following the AGM until a permanent successor has been appointed.
FTSE 100 - Risers
Bunzl (BNZL) 2,416.00p 2.88% St James's Place (STJ) 1,303.50p 2.16% National Grid (NG.) 1,278.40p 1.95% SSE (SSE) 2,634.00p 1.94% BP (BP.) 573.90p 1.79% Glencore (GLEN) 557.40p 1.44% Rio Tinto (RIO) 7,375.00p 1.23% Tesco (TSCO) 492.65p 1.06% Vodafone Group (VOD) 114.45p 1.01% Diploma (DPLM) 6,985.00p 1.01%
FTSE 100 - Fallers
Reckitt Benckiser Group (RKT) 4,663.00p -5.06% Melrose Industries (MRO) 508.60p -4.43% JD Sports Fashion (JD.) 73.64p -3.25% Rolls-Royce Holdings (RR.) 1,149.40p -2.54% International Consolidated Airlines Group SA (CDI) (IAG) 382.40p -2.42% Diageo (DGE) 1,487.80p -2.36% Autotrader Group (AUTO) 502.40p -1.80% DCC (CDI) (DCC) 5,195.00p -1.61% Games Workshop Group (GAW) 19,415.00p -1.57% Smith & Nephew (SN.) 1,200.50p -1.56%
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