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FTSE 100 movers: Melrose in the black; Airtel Africa loses ground

Tue 10 May 2022 14:35

(Sharecast News) - London's FTSE 100 was up 0.8% at 7,274.38 in afternoon trade on Tuesday as investors grabbed some bargains after Monday's heavy losses. GKN owner Melrose Industries was the top gainer on the index, closely followed by industrial software business Aveva.

CMC Markets analyst Michael Hewson said: "Melrose Industries doing well after hitting one-year lows yesterday. It is also notable that while we are seeing some decent gains today consumer staples are still lagging the wider market, showing that investors remain concerned about consumption trends, and the effect higher inflation will have on consumer spending patterns."

Housebuilders Barratt Developments and Persimmon also gained.

On the downside, telecommunications and mobile money services company Airtel Africa was the worst performer on the index, while cyber security firm Avast also lost ground.

Market Movers

FTSE 100 (UKX) 7,300.92 1.17% FTSE 250 (MCX) 19,559.78 1.31% techMARK (TASX) 4,262.63 1.13%

FTSE 100 - Risers

Melrose Industries (MRO) 114.00p 5.95% Aveva Group (AVV) 2,195.00p 5.68% Barratt Developments (BDEV) 479.30p 4.40% Flutter Entertainment (CDI) (FLTR) 8,322.00p 4.08% Scottish Mortgage Inv Trust (SMT) 806.40p 3.78% Persimmon (PSN) 2,098.00p 3.25% Standard Chartered (STAN) 564.20p 3.14% Phoenix Group Holdings (PHNX) 588.40p 3.01% Antofagasta (ANTO) 1,403.00p 3.01% Smurfit Kappa Group (CDI) (SKG) 3,320.00p 3.01%

FTSE 100 - Fallers

Airtel Africa (AAF) 135.50p -5.97% Avast (AVST) 502.80p -1.30% Fresnillo (FRES) 762.40p -0.70% Whitbread (WTB) 2,550.00p -0.43% BAE Systems (BA.) 743.40p -0.11% Informa (INF) 543.40p -0.04% Bunzl (BNZL) 2,989.00p -0.03% Meggitt (MGGT) 778.20p 0.03% International Consolidated Airlines Group SA (CDI) (IAG) 127.50p 0.05% Smith & Nephew (SN.) 1,252.00p 0.08%

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