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FTSE 100 movers: Coca-Cola, Vodafone in the black
(Sharecast News) - London's FTSE 100 was up 0.4% at 7,980.20 in afternoon trade on Tuesday, having come within a whisker of the 8,000 mark earlier. Coca-Cola HBC was the standout gainer on the index after well-received results, with full-year operating profit ahead of expectations.
Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: "The beverage giant Coca-Cola is showing why it's such a global powerhouse. Despite a cost-of-living crisis to contend with, the group's exceeded its own guidance by growing full-year organic revenues 16%. Iconic brand power was to thank for this, as loyal customers have kept coming back for more of the group's infamous fizzy drinks. This meant that despite higher average selling prices, total volumes actually rose by 5% this year.
"Coca-Cola's diversification has undoubtedly played a large part in its resilient sales too."
Vodafone advanced after Liberty Global bought a 4.9% stake in the company. Russ Mould, investment director at AJ Bell, said: "Liberty Global has already done deals with Vodafone in the past, merging the two companies' Dutch operations and selling some of its European interests to the UK business. It probably has a few ideas up its sleeve and realised it could have more influence by being a shareholder than sitting back and letting others get a seat at the table."
Gambling company Flutter Entertainment rose after saying it was considering a US listing and would starting consulting shareholders on the matter as its FanDuel operation grew in importance to the group.
FTSE 100 - Risers
Coca-Cola HBC AG (CDI) (CCH) 2,071.00p 6.67% Vodafone Group (VOD) 98.02p 4.28% BT Group (BT.A) 139.40p 3.95% Airtel Africa (AAF) 127.20p 2.75% Hargreaves Lansdown (HL.) 958.40p 2.42% Sainsbury (J) (SBRY) 264.80p 1.77% Ocado Group (OCDO) 629.20p 1.71% Pearson (PSON) 920.00p 1.52% Taylor Wimpey (TW.) 119.75p 1.40% Flutter Entertainment (CDI) (FLTR) 12,720.00p 1.39%
FTSE 100 - Fallers
Rolls-Royce Holdings (RR.) 107.12p -2.14% HSBC Holdings (HSBA) 605.50p -1.34% Standard Chartered (STAN) 720.60p -1.26% Entain (ENT) 1,316.00p -0.98% United Utilities Group (UU.) 1,066.00p -0.88% Melrose Industries (MRO) 141.35p -0.84% Hiscox Limited (DI) (HSX) 1,118.00p -0.67% Prudential (PRU) 1,286.00p -0.58% BAE Systems (BA.) 858.80p -0.56% Severn Trent (SVT) 2,833.00p -0.53%
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