FTSE 100 movers: Convatec jumps on new growth plans, Antofagasta provides a boost

(Sharecast News) - London's benchmark index was trading marginally up on Friday, set to finish the week higher following the US-Iran ceasefire deal, with blue chips Convatec, Flutter, Antofagasta and banking stocks providing a life.

Convatec was the high riser of the day, gaining nearly 7% one day after it held a capital markets day, where it unveiled how it plans to achieve its recently increased organic growth guidance. Shares fell slightly on Thursday after the medical products and technology company outlined its new 'Accelerate' strategy, but pushed to a one-month high a day later as investors dug through the details.

Sentiment was helped by positive broker commentary following the event, with Bank of America, Berenberg, Jefferies and Deutsche Bank all reiterating their 'buy' recommendations.

Berenberg, in particular, said that while there weren't any surprises with the announcement - following upgrades to guidance in February - the capital markets day "left us encouraged about Convatec's growth momentum and product pipeline".

Defence companies BAE Systems and Babcock were tracking lower as investors continued to digest developments in the Middle East with optimism about a potential peace deal eroding the demand outlook for weapons and military equipment.

Gambling stock Flutter rose as shares partially recovered following a tumble the previous session after Swedish gambling firm Betsson posted disappointing first-quarter results.

Banks were broadly higher, with Standard Chartered and Barclays among the top ten performers.

Copper miner Antofagasta was in demand as copper prices gained 2.1% to $5.8840 a pound, heading back towards the record highs of $6+ seen in February.

In contrast, energy majors BP and Shell tracked oil prices lower as investors continued to digest the biggest one-day decline in crude in years on Wednesday. Brent was down 0.1% at $95.86 a barrel, well below the $110 level seen at the start of the week.

Metlen Energy and Metals fell for the second straight session after posting a 48% drop in annual profits due to project delays.

FTSE 100 - Risers

Convatec Group (CTEC) 238.40p 6.61% Coca-Cola HBC AG (CDI) (CCH) 4,554.00p 3.66% Burberry Group (BRBY) 1,171.60p 3.32% Kingfisher (KGF) 310.20p 3.10% Flutter Entertainment (DI) (FLTR) 7,890.00p 2.84% Pershing Square Holdings Ltd NPV (PSH) 4,180.00p 2.40% CRH (CDI) (CRH) 8,760.00p 2.40% Antofagasta (ANTO) 3,762.50p 2.33% Standard Chartered (STAN) 1,745.40p 2.14% Barclays (BARC) 442.60p 2.13%

FTSE 100 - Fallers

Metlen Energy & Metals (MTLN) 33.05p -6.53% Melrose Industries (MRO) 534.00p -2.59% BAE Systems (BA.) 2,210.50p -2.56% BP (BP.) 567.70p -2.17% Centrica (CNA) 209.30p -1.74% Babcock International Group (BAB) 1,257.00p -1.68% Shell (SHEL) 3,392.50p -1.52% Compass Group 11 (CPG) 27.67p -1.42% SSE (SSE) 2,730.00p -0.98% SEGRO (SGRO) 699.20p -0.82%