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FTSE 100 movers: JD Sports out of fashion; Melrose rallies
(Sharecast News) - London's FTSE 100 was down 0.3% at 7,725.02 in afternoon trade on Wednesday. JD Sports was under the cosh even as it said it expects annual profit to pass £1bn after a record result in the year to January 28.
British Land slumped after it said the value of its portfolio declined 12.3% in the year to the end of March as higher interest rates had an impact on property yields. Land Securities also lost ground.
London Stock Exchange fell after a consortium including Blackstone and Thomson Reuters sold 33m shares in the company in a placing.
On the upside, Melrose Industries surged to the top of the index after saying that new guidance for 2025 adjusted operating margin "materially" exceeds previous expectations.
The company, which said last week that it was repositioning itself as a pure-play aerospace group, now expects aerospace adjusted operating margin of between 17% and 18%, up from 14% previously.
Software firm Sage was also a high riser after posting well-received first-half results and upgrading its outlook for full-year recurring revenue growth.
FTSE 100 - Risers
Melrose Industries (MRO) 490.20p 4.88% Sage Group (SGE) 849.60p 3.48% Rolls-Royce Holdings (RR.) 152.15p 2.70% International Consolidated Airlines Group SA (CDI) (IAG) 158.00p 1.48% Rio Tinto (RIO) 4,986.00p 1.41% Antofagasta (ANTO) 1,421.50p 1.25% BP (BP.) 481.70p 1.21% Smith & Nephew (SN.) 1,312.00p 1.00% Compass Group (CPG) 2,222.00p 1.00% Vodafone Group (VOD) 84.15p 0.98%
FTSE 100 - Fallers
JD Sports Fashion (JD.) 157.80p -7.31% British Land Company (BLND) 357.30p -5.45% Croda International (CRDA) 6,434.00p -3.68% London Stock Exchange Group (LSEG) 8,214.00p -3.05% Mondi (MNDI) 1,278.00p -1.81% Ocado Group (OCDO) 407.50p -1.62% Next (NXT) 6,636.00p -1.57% Land Securities Group (LAND) 624.80p -1.54% Imperial Brands (IMB) 1,811.00p -1.52% Persimmon (PSN) 1,321.50p -1.49%
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