Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Informa surges; Ithaca gives back some gains

(Sharecast News) - London's FTSE 100 was up 0.3% at 10,529.88 in afternoon trade on Tuesday. Informa surged to the top of the index after saying it had agreed to buy event and exhibition organiser Clarion for £2.24bn, and announcing plans to separate its academic business, Taylor & Francis, to focus on the core B2B business.

Chief executive Stephen A. Carter said: "The planned separation of Taylor & Francis coincides with further expansion in B2B through the £2.24bn acquisition of Clarion, the UK-based owner of more than 100 B2B Live Event brands. The combination will underscore Informa as the UK-listed, international leader in B2B Live Events, with annual group revenues exceeding $6bn and underlying revenue growth of 7%.

"Today's announcements mark the latest step in a growth strategy that has seen B2B revenues grow tenfold since 2014, whilst generating more than $3bn of value in Business Intelligence and lifting Taylor & Francis revenues fourfold since it joined the group."

Ithaca Energy was in the red, having rallied on Monday after agreeing with Suncor to buy a portfolio of conventional offshore oil assets located in shallow waters off the East Coast of Newfoundland and Labrador, Canada, for up to $1.1bn.

BP was under the cosh as oil prices fell, while M&G dropped as JPMorgan cuts its price target on the stock to 310p from 335p and maintained its 'underweight' rating.

FTSE 100 - Risers

Informa (INF) 913.60p 5.87% Weir (WEIR) 2,668.00p 3.10% AstraZeneca (AZN) 12,072.00p 2.84% Marks & Spencer Group (MKS) 386.00p 2.37% Whitbread (WTB) 2,480.00p 2.27% Croda International (CRDA) 3,359.00p 2.06% Burberry Group (BRBY) 1,021.00p 1.94% Spirax Group (SPX) 7,400.00p 1.72% Pershing Square Holdings Ltd NPV (PSH) 3,748.00p 1.68% Diageo (DGE) 1,596.50p 1.36%

FTSE 100 - Fallers

Ithaca Energy (ITH) 271.60p -3.55% BAE Systems (BA.) 1,869.50p -3.41% BT Group (BT.A) 194.35p -2.16% M&G (MNG) 306.70p -2.10% BP (BP.) 552.70p -1.94% Babcock International Group (BAB) 908.20p -1.81% Abrdn (ABDN) 238.00p -1.74% IG Group Holdings (IGG) 971.50p -1.67% 3i Group (III) 2,375.00p -1.53% Games Workshop Group (GAW) 16,710.00p -1.53%

Share this article

Related Sharecast Articles

FTSE 250 movers: Pennon tanks; Ocado, Avon surge
(Sharecast News) - FTSE 250 (MCX) 24,086.31 -0.53%
FTSE 250 movers: Asos slumps on 'hack' warning; Clarkson up on FY outlook
(Sharecast News) - FTSE 250 (MCX) 24,203.05 0.33%
FTSE 100 movers: Ithaca rallies on acquisition; IG Group falls again
(Sharecast News) - London's FTSE 100 was flat at 10,458.55 in afternoon trade on Monday.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.