FTSE 100 movers: CRH surges on S&P 500 inclusion; Unilever slumps

(Sharecast News) - London's FTSE 100 was down 0.2% at 9,647.49 in afternoon trade on Monday. Building materials group CRH was the top gainer after S&P Global announced on Friday as part of its quarterly rebalancing that it was among the companies set to join the S&P 500 index.

Prudential also rallied after the insurer confirmed plans for a potential initial public offering of its Indian joint venture.

It said over the weekend that ICICI Prudential Asset Management Company Limited (IPAMC) had filed an early stage 'red herring' prospectus in Delhi concerning a possible IPO.

Under the proposed terms, Prudential would sell up to 9.91% of its equity in IPAMC.

It also confirmed it was considering a possible 2% sale to its joint venture partner, ICICI Bank, noting: "We are considering an additional pre-IPO placement to select institutional investors before the completion of the IPO."

Defence firms Babcock, BAE Systems and Rolls-Royce were also in the black.

Unilever slumped as it completed the demerger of its ice cream business. Trading in The Magnum Ice Cream Company got underway in Amsterdam, with secondary listings in New York and London.

Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: "TMICC has already been functioning as a standalone business since 1 July 2025, so the trading of its shares shouldn't bring any major disruption to operations.

"The separation makes TMICC the largest ice cream business in the world, with iconic brands like Magnum, Ben & Jerry's, Wall's and Cornetto in its portfolio. It's already scooped up a 21% share of global ice cream sales, nearly double that of its largest competitor, Froneri.

"The global ice cream market is forecast to grow by 3-4% annually until at least 2029. TMICC is targeting growth slightly ahead of this pace, up to 5% annually, driven by increased marketing investment, improved distribution channels and market share gains.

"TMICC is already free cash flow positive and profitable in its own right. The balance sheet is in decent shape, but dividends are off the cards until 2027 as the group finds its footing as a standalone business. That could cause some downward pressure on the share price in the near term, as dividend-focussed investment funds that hold Unilever will be handed TMICC shares, the latter of which they may be forced to sell to abide by their investment mandate."

Housebuilders were under the cosh, with Barratt Redrow and Persimmon both down.

FTSE 100 - Risers

CRH (CDI) (CRH) 9,524.00p 5.21% Babcock International Group (BAB) 1,172.00p 2.27% Prudential (PRU) 1,100.50p 2.09% Rolls-Royce Holdings (RR.) 1,107.00p 2.07% Scottish Mortgage Inv Trust (SMT) 1,091.50p 2.06% Vodafone Group (VOD) 95.30p 1.47% BAE Systems (BA.) 1,694.00p 1.26% Fresnillo (FRES) 2,748.00p 1.25% Associated British Foods (ABF) 2,151.00p 1.22% International Consolidated Airlines Group SA (CDI) (IAG) 390.40p 1.22%

FTSE 100 - Fallers

Unilever (ULVR) 4,172.00p -6.37% Barratt Redrow (BTRW) 370.50p -2.04% Diageo (DGE) 1,638.50p -1.92% Persimmon (PSN) 1,320.50p -1.82% Hikma Pharmaceuticals (HIK) 1,565.00p -1.82% Mondi (MNDI) 857.00p -1.79% Marks & Spencer Group (MKS) 328.80p -1.76% Convatec Group (CTEC) 225.20p -1.75% Whitbread (WTB) 2,360.00p -1.71% Relx plc (REL) 2,984.00p -1.68%