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FTSE 100 movers: Flutter slumps after results; JD Sports surges
(Sharecast News) - London's FTSE 100 was down 1.3% at 10,300.82 in afternoon trade on Thursday. Flutter Entertainment tumbled as it cut its guidance for full-year revenue and adjusted EBITDA, partly due to unfavourable sports results, and announced the departure of Amy Howe, chief executive of its US business.
Relx and Admiral were weaker as they traded without entitlement to the dividend.
Centrica slumped as the British Gas owner cautioned that full-year retail EBITDA was expected to be towards the lower end of its guidance range of £500m to £800m. It also announced the acquisition of the Severn Combined-Cycle Gas Turbine power station from the Calon Energy Group for about £370m.
BAE Systems was weaker even as the weapons maker reiterated annual guidance of 9% - 11% earnings growth as regional wars continued to boost its order book.
On the upside, JD Sports surged despite a warning that current-year profits would be lower as it continued to wrestle with muted market growth due to a weaker spending outlook for consumers and uncertainty caused by the Iran war.
Autotrader shares motored ahead following a Sky News report that activist investor Palliser Capital has started building a stake the classifieds company.
Hiscox rose as the insurer posted a 10.2% jump in first-quarter contract written premiums, pointing to accelerating momentum in the retail segment.
InterContinental Hotels rose as it posted better-than-expected first-quarter revenue per available room and backed its expectations for the full year. Global RevPAR grew 4.4%, ahead of expectations for a 3.3% increase.
Lion Finance advanced as it reported a 14% rise in first-quarter profit and announced further shareholder returns.
BA and Iberia owner IAG flew higher ahead of first-quarter results on Friday.
FTSE 100 - Risers
JD Sports Fashion (JD.) 73.64p 8.79% Fresnillo (FRES) 3,650.00p 5.37% Autotrader Group (AUTO) 523.60p 4.64% Hiscox Limited (DI) (HSX) 1,622.00p 4.58% Antofagasta (ANTO) 3,949.00p 3.76% Burberry Group (BRBY) 1,254.60p 3.40% InterContinental Hotels Group (IHG) 149.90p 3.02% Lion Finance Group (BGEO) 11,470.00p 2.59% Anglo American (AAL) 3,898.00p 2.02% International Consolidated Airlines Group SA (CDI) (IAG) 395.90p 1.48%
FTSE 100 - Fallers
Flutter Entertainment (DI) (FLTR) 7,204.00p -6.31% Relx plc (REL) 2,469.00p -5.94% Admiral Group (ADM) 3,174.00p -5.02% Centrica (CNA) 198.95p -4.53% BAE Systems (BA.) 2,016.50p -2.78% Severn Trent (SVT) 3,139.00p -2.49% United Utilities Group (UU.) 1,399.50p -2.37% Pearson (PSON) 1,101.50p -2.35% Imperial Brands (IMB) 2,766.00p -2.35% Diageo (DGE) 1,530.00p -2.28%
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