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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: Kingfisher gains after results; Intertek hit by downgrade

Mon 23 May 2022 14:11

(Sharecast News) - London's FTSE 100 was up 1.5% at 7,497.68 in afternoon trade on Monday.

B&Q owner Kingfisher gained after it reiterated annual guidance as it reported an expected fall in first-quarter sales and announced a £300m share buyback. The company said total group sales fell 5.8% to £3.2bn in the three months to April 22, in line with its expectations, against tough comparators last year when a DIY boom amid Covid lockdowns boosted revenues.

Inspection, product testing and certification company Intertek was knocked lower by a downgrade to 'hold' at Stifel.

Spirax-Sarco edged down as it said it was considering closing its loss-making Chromalox manufacturing facility in Soissons, France.

The company has begun a consultation with trade unions about the financial underperformance of the facility and its consequences, including potential closure of the site.

FTSE 100 - Risers

Anglo American (AAL) 3,685.00p 4.58% Vodafone Group (VOD) 126.22p 4.23% Royal Mail (RMG) 327.40p 3.80% M&G (MNG) 214.40p 3.68% Glencore (GLEN) 515.40p 3.63% Intermediate Capital Group (ICP) 1,442.00p 3.30% Aviva (AV.) 423.90p 2.86% Kingfisher (KGF) 253.70p 2.80% Endeavour Mining (EDV) 1,895.00p 2.71% BP (BP.) 428.05p 2.60%

FTSE 100 - Fallers

Intertek Group (ITRK) 4,694.00p -4.18% Smurfit Kappa Group (CDI) (SKG) 3,035.00p -1.97% Harbour Energy (HBR) 447.20p -0.95% Rolls-Royce Holdings (RR.) 82.61p -0.84% B&M European Value Retail S.A. (DI) (BME) 419.10p -0.78% SEGRO (SGRO) 1,110.00p -0.58% Reckitt Benckiser Group (RKT) 6,214.00p -0.45% Spirax-Sarco Engineering (SPX) 10,350.00p -0.43% Tesco (TSCO) 259.30p -0.38% WPP (WPP) 958.80p -0.19%

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