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FTSE 100 movers: Fresnillo shines; BP gushes lower
(Sharecast News) - London's FTSE 100 was up 0.6% at 7,961.58 in afternoon trade on Friday. Precious metals miner Fresnillo shone as gold prices rallied.
Tesco, Sainsbury's and Marks & Spencer were among the top risers, recovering from heavy losses a day earlier on the back of a disappointing outlook from Tesco.
Tesco warned on Thursday that profits in the current year could be squeezed, as competition from rivals ramps up.
The UK's biggest grocer said group sales in the year to February 2025, excluding VAT and fuel, had jumped 3.5% to £63.64bn.
Group adjusted operating profits rose 10.6% to £3.13bn, of which retail adjusted operating profit rose 7.7% at £2.97bn.
However, looking to the current year, the supermarket chain adopted a more cautious tone, following a "further increase in the competitive intensity of the UK market".
As a result, it now expects group adjusted operating profit to come in between £2.7bn and £3.0bn in the 2025/26 full year.
BP was under the cosh after saying it expects to report lower first-quarter upstream production than in the previous three months.
In a trading update, the company said it saw slightly higher volumes in oil production and operations, but expected lower output in gas and low-carbon energy. Gas marketing and trading is expected to be "weak", it added.
The shares were also affected by a downgrade to 'neutral' from 'buy' at UBS.
The bank said: "Financial uncertainty makes delivery of the next steps to restore investor confidence more difficult."
FTSE 100 - Risers
Fresnillo (FRES) 982.00p 6.39% Tesco (TSCO) 326.30p 3.72% Glencore (GLEN) 252.35p 3.00% Sainsbury (J) (SBRY) 235.00p 2.71% Haleon (HLN) 375.30p 2.68% Marks & Spencer Group (MKS) 377.90p 2.61% United Utilities Group (UU.) 1,071.00p 2.49% BT Group (BT.A) 160.80p 2.36% Associated British Foods (ABF) 2,005.00p 2.32% Smith & Nephew (SN.) 977.80p 2.11%
FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 238.50p -2.93% St James's Place (STJ) 835.40p -2.91% Smurfit Westrock (DI) (SWR) 3,063.00p -2.17% Informa (INF) 670.60p -1.79% BP (BP.) 336.80p -1.41% InterContinental Hotels Group (IHG) 7,678.00p -1.34% Diploma (DPLM) 3,778.00p -1.10% Intermediate Capital Group (ICG) 1,667.00p -0.95% Hiscox Limited (DI) (HSX) 1,102.00p -0.90% Entain (ENT) 533.80p -0.89%
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