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FTSE 100 movers: Hiscox surges on results; Coca-Cola HBC in the red
(Sharecast News) - London's FTSE 100 was up 0.3% at 9,170.04 in afternoon trade on Wednesday. Specialist insurer Hiscox surged to the top of the index as it posted a slight drop in first-half pre-tax profit but said insurance contract written premiums grew 5.7% to $2.9bn, with all three business segments growing, and increased its ongoing share buyback by $100m.
Hiscox also lifted its dividend by 9% and said that despite the largest wildfire insurance event in history, it achieved a "strong" operating return on tangible equity of 14.5%.
Fellow insurer Beazley also gained.
Coca-Cola HBC slumped despite saying that its full-year performance was set to be at the top end of guidance as it hailed "strong" first-half results, with particular strength in emerging markets.
Glencore fell as the mining giant reported a fall in half-year profits, reflecting weaker coal prices and lower copper volumes, while the company also said it would retain its London listing after mulling a move to New York.
Adjusted core earnings declined 14% to $5.4bn, while marketing operating profits slid 8% to $1.8bn, which the miner and commodities trader hailed as a "solid" result against a macroeconomic environment that was heavily influenced by US tariff policy uncertainty and tensions in the Middle East.
Legal & General lost ground despite reporting a 6% jump in first-half core operating profit and a 28% rise in IFRS pre-tax profit.
FTSE 100 - Risers
Hiscox Limited (DI) (HSX) 1,386.00p 10.00% Fresnillo (FRES) 1,604.00p 5.53% Diageo (DGE) 1,983.50p 4.18% Vodafone Group (VOD) 85.80p 2.93% Beazley (BEZ) 927.50p 2.88% BP (BP.) 428.75p 2.71% Centrica (CNA) 168.30p 2.25% Ashtead Group (AHT) 5,084.00p 1.88% Anglo American (AAL) 2,128.00p 1.82% Shell (SHEL) 2,738.50p 1.75%
FTSE 100 - Fallers
Coca-Cola Europacific Partners (DI) (CCEP) 6,850.00p -7.31% Coca-Cola HBC AG (CDI) (CCH) 3,660.00p -6.68% Glencore (GLEN) 287.15p -4.62% Relx plc (REL) 3,642.00p -4.51% Pearson (PSON) 1,090.50p -3.24% Marks & Spencer Group (MKS) 335.20p -2.95% Legal & General Group (LGEN) 255.10p -2.45% Croda International (CRDA) 2,605.00p -1.59% Halma (HLMA) 3,220.00p -1.47% International Consolidated Airlines Group SA (CDI) (IAG) 376.00p -1.39%%
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