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FTSE 100 movers: IMI gains after results; Airtel Africa slides
(Sharecast News) - London's FTSE 100 was down 0.4% at 8,522.23 in afternoon trade on Thursday. IMI was the standout performer on the index as the engineering firm reaffirmed its guidance for the full year and said it was conducting a strategic review of its transport business.
Weir Group was also a high riser after UBS upgraded the shares to 'buy' from 'neutral' and hiked the price target to 2,850p from 2,250p.
The bank said its new 'buy' thesis is driven mostly by its view that there is significant upside to the savings that Weir can achieve from its Performance Excellence plan.
"However, we also think Weir is the best protected amongst peers in the event of a downturn following recent tariffs," it added.
Mondi gained after a first-quarter trading update but Centrica slumped as the British Gas owner cautioned that its residential energy business has been impacted by warmer than usual weather in the second quarter.
Airtel Africa slid after it posted a drop in full-year underlying earnings and Flutter Entertainment fell after it said adverse US sports results weighed on first-quarter numbers.
FTSE 100 - Risers
IMI (IMI) 1,876.00p 4.63% Weir Group (WEIR) 2,390.00p 3.46% JD Sports Fashion (JD.) 85.76p 3.38% Whitbread (WTB) 2,827.00p 3.18% Mondi (MNDI) 1,144.50p 3.11% Kingfisher (KGF) 300.90p 3.08% Melrose Industries (MRO) 460.00p 2.82% Spirax Group (SPX) 6,150.00p 2.76% Rolls-Royce Holdings (RR.) 786.80p 2.72% Associated British Foods (ABF) 2,021.00p 2.51%
FTSE 100 - Fallers
Centrica (CNA) 145.30p -8.67% Airtel Africa (AAF) 156.10p -8.34% Flutter Entertainment (DI) (FLTR) 17,485.00p -4.38% AstraZeneca (AZN) 10,160.00p -3.27% Vodafone Group (VOD) 69.60p -2.77% Fresnillo (FRES) 1,029.00p -2.37% Rio Tinto (RIO) 4,438.00p -2.24% BT Group (BT.A) 162.75p -2.22% Severn Trent (SVT) 2,709.00p -1.81% Unilever (ULVR) 4,721.00p -1.60%
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