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FTSE 100 movers: DS Smith rallies as Suzano abandons IP pursuit; GSK tumbles

Thu 27 Jun 2024 14:31

(Sharecast News) - London's FTSE 100 was down 0.2% at 8,211.88 in afternoon trade on Thursday. DS Smith was the top gainer on the index after Brazilian pulp maker Suzano said it had ended talks to buy International Paper. DS Smith agreed to be bought by International Paper in April for £5.8bn.

According to Reuters, a deal between Suzano and IP would have been conditional on IP abandoning its DS Smith bid.

In a statement on Wednesday, Suzano said that IP had not engaged with the highest price it was willing to pay. Mondi also advanced.

Halma was up after announcing the acquisition of Portuguese fire detection and alarm systems maker Global Fire Equipment (GFE) for £36m.

Burberry was in the red as the luxury fashion brand traded without entitlement to the dividend.

GSK tumbled after a ruling by a US health agency narrowed usage recommendations for all respiratory syncytial virus (RSV) vaccines, restricting the addressable market for the company's Arexvy product.

Anglo American was in the red after a downgrade to 'sell' from 'hold' at Berenberg.

FTSE 100 - Risers

Smith (DS) (SMDS) 408.80p 10.97% Mondi (MNDI) 1,532.00p 3.65% Airtel Africa (AAF) 119.50p 2.40% Admiral Group (ADM) 2,656.00p 2.27% Barclays (BARC) 210.25p 2.14% Shell (SHEL) 2,829.50p 1.38% BP (BP.) 477.00p 1.37% Relx plc (REL) 3,649.00p 1.25% Halma (HLMA) 2,710.00p 1.12% Diploma (DPLM) 4,186.00p 1.11%

FTSE 100 - Fallers

Burberry Group (BRBY) 912.40p -5.14% GSK (GSK) 1,517.50p -5.13% 3i Group (III) 3,009.00p -2.59% Entain (ENT) 631.00p -2.50% British American Tobacco (BATS) 2,450.00p -2.43% Associated British Foods (ABF) 2,483.00p -1.62% Ashtead Group (AHT) 5,248.00p -1.54% Prudential (PRU) 735.40p -1.50% Anglo American (AAL) 2,490.50p -1.46% Hikma Pharmaceuticals (HIK) 1,889.00p -1.46%

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