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FTSE 100 movers: Hikma recovers some poise; Rightmove, IAG tumble
(Sharecast News) - London's FTSE 100 was down 0.9% at 9,646.37 in afternoon trade on Friday. Rightmove tanked after the property portal warned that increased investment in technology and artificial intelligence would weigh on profits.
The company said AI was becoming "absolutely central" to how the business was run. It therefore intends to accelerate execution in AI-powered operations, as well as improving the Rightmove app and search capabilities.
Rightmove said its investment plans were intended to support double digit underlying operating profit growth in the longer term.
However, it acknowledged that underlying operating profit growth - which in 2024 and 2025 ranged from 4% to 9% - would likely come in between 3% and 5% in 2026, as a result of the increased investment
IAG tumbled as the BA and Iberia owner posted weaker-than-expected third-quarter operating profit and revenues and highlighted "some softness" in the North American market.
Operating profit rose to €2.05bn from €2.01bn in the same period a year earlier, but this was weaker than the €2.19bn forecasts by analysts, while pre-tax profit was down 2.1% to €1.87bn.
Total revenue was flat in the third quarter at 9.33bn, missing forecasts for an increase to €9.43bn, while passenger revenue per available seat kilometre was down 2.4%. North Atlantic passenger revenue per ASK fell 7.1%.
Hikma Pharmaceuticals was the top gainer, having fallen sharply on Thursday after it downgraded medium-term guidance for its injectables unit.
FTSE 100 - Risers
Hikma Pharmaceuticals (HIK) 1,552.00p 1.97% Coca-Cola Europacific Partners (DI) (CCEP) 6,790.00p 1.19% WPP (WPP) 273.50p 1.18% Smith & Nephew (SN.) 1,250.50p 0.68% Coca-Cola HBC AG (CDI) (CCH) 3,534.00p 0.57% Land Securities Group (LAND) 641.50p 0.55% Hiscox Limited (DI) (HSX) 1,361.00p 0.52% Diageo (DGE) 1,688.00p 0.48% Vodafone Group (VOD) 87.52p 0.41% InterContinental Hotels Group (IHG) 9,556.00p 0.40%
FTSE 100 - Fallers
Rightmove (RMV) 565.00p -13.79% International Consolidated Airlines Group SA (CDI) (IAG) 375.10p -9.42% Auto Trader Group (AUTO) 755.20p -5.43% Metlen Energy & Metals (MTLN) 41.75p -4.35% Experian (EXPN) 3,385.00p -3.73% BT Group (BT.A) 175.45p -3.31% Sainsbury (J) (SBRY) 344.60p -3.15% Relx plc (REL) 3,214.00p -3.08% IMI (IMI) 2,420.00p -2.89% Flutter Entertainment (DI) (FLTR) 15,890.00p -2.81%
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