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FTSE 100 movers: Convatec jumps on guidance upgrade; Rightmove retreats
(Sharecast News) - London's FTSE 100 was up 2.1% at 8,130.65 in afternoon trade on Monday. Medical products group Convatec shot to the top of the FTSE 100 as it said the sales outlook for InnovaMatrix has improved after an announcement by the US government late last week.
The Centers for Medicare & Medicaid Services on Friday postponed so-called local coverage determinations (LCDs) for certain products used to treat diabetic foot ulcers and venous leg ulcers, meaning that Medicare patients with those conditions will continue to benefit from access to InnovaMatrix.
As a result, the company lifted guidance for InnovaMatrix sales this year from $50m to $75m.
BP gushed higher as it announced a new oil discovery at its Far South prospect in the deepwater Gulf of Mexico, marking a potential boost to its upstream portfolio as the company accelerates exploration efforts under its revised strategic plan.
BP said the Far South well, located in Green Canyon Block 584 roughly 120 miles off the Louisiana coast, was drilled to a depth of 23,830 feet in water depths of 4,092 feet.
BP holds a 57.5% operating interest in the project, with Chevron owning the remaining 42.5%.
On the downside, Rightmove was a touch weaker despite an upgrade to 'equalweight' at Barclays.
FTSE 100 - Risers
Convatec Group (CTEC) 262.00p 5.82% BP (BP.) 349.60p 5.40% Smurfit Westrock (DI) (SWR) 3,149.00p 5.21% Barclays (BARC) 270.10p 4.71% St James's Place (STJ) 858.40p 4.25% JD Sports Fashion (JD.) 75.18p 4.24% Melrose Industries (MRO) 422.00p 4.20% Intermediate Capital Group (ICG) 1,741.00p 4.06% easyJet (EZJ) 471.50p 4.06% Standard Chartered (STAN) 978.60p 3.78%
FTSE 100 - Fallers
Rentokil Initial (RTO) 331.80p -0.93% Rightmove (RMV) 721.00p -0.30% British American Tobacco (BATS) 3,150.00p -0.16% RELX FINANCE BV 3.375% GTD NTS 20/03/33 (BW73) 99.72p 0.00% Unilever (ULVR) 4,677.00p 0.13% Haleon (HLN) 376.00p 0.40% Imperial Brands (IMB) 2,912.00p 0.55% United Utilities Group (UU.) 1,074.50p 0.70% SSE (SSE) 1,565.50p 0.77% Severn Trent (SVT) 2,606.00p 0.77%
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