FTSE 100 movers: M&S gains after results; Experian in the red

(Sharecast News) - London's FTSE 100 was up 0.5% at 10,380.63 in afternoon trade on Wednesday. Marks & Spencer was the standout gainer as it posted a sharp fall in annual earnings, reflecting the impact of last year's cyber attack, but said profits had recovered in the second half.

Russ Mould, investment director at AJ Bell, said: "While Marks & Spencer's full-year results undoubtedly bear the scars of the damaging cyber-attack that hit the company last year, an increase in the dividend and confidence in a return to growth in the current financial year has won investors over.

"Although last Spring's cyber-attack was a major incident which caused significant disruption, the crisis now looks more like a blip in a story of continuing recovery at Marks & Spencer. The food arm has been a consistent performer over many years and is now augmented by the full consolidation of the Ocado Retail business. There are lofty ambitions to take greater share in the UK grocery market, but the clothing business is now firing too.

"The recent deal to acquire a logistics hub from Asos is expected to double online fashion sales and further reinvigorate this part of the group. An overdue revamp of the company's loyalty programme could also provide a useful boost across both food and clothing. Previously this did not match up to Tesco's Clubcard or Sainsbury's Nectar card as a way of driving repeat business, however the relaunched Sparks card looks better set up to deliver these benefits.

"The consumer backdrop may be unhelpful, but Marks seems to be doing all that is within its compass to keep driving the business forward."

Defence firm Babcock was boosted by an upgrade to 'buy' from 'add' at Peel Hunt.

Heavily-weighted miners Antofagasta and Anglo American rose in tandem with copper prices.

Severn Trent rallied as the water utility lifted its 2028 adjusted earnings per share outlook to at least 250p from 224p following "another year of exceptional growth".

On the downside, Experian was under the cosh. The credit-checking firm announced a $1bn share buyback as it hailed a record full year, having performed at the upper end of its expectations, but shares slumped amid disappointment over its guidance for revenue growth.

FTSE 100 - Risers

Marks & Spencer Group (MKS) 342.30p 4.87% Babcock International Group (BAB) 1,014.50p 2.77% Antofagasta (ANTO) 3,745.00p 2.60% Fresnillo (FRES) 3,271.00p 2.41% Weir Group (WEIR) 2,490.00p 2.30% Anglo American (AAL) 3,735.00p 2.13% IG Group Holdings (IGG) 1,777.00p 2.07% Rolls-Royce Holdings (RR.) 1,186.00p 1.89% Severn Trent (SVT) 3,062.00p 1.66% Standard Chartered (STAN) 1,905.00p 1.41%

FTSE 100 - Fallers

Experian (EXPN) 2,573.00p -4.69% Autotrader Group (AUTO) 489.20p -2.76% Relx plc (REL) 2,456.00p -2.69% The Sage Group (SGE) 885.60p -2.42% Reckitt Benckiser Group (RKT) 4,677.00p -1.93% Games Workshop Group (GAW) 18,800.00p -1.67% Burberry Group (BRBY) 1,099.50p -1.61% 3i Group (III) 2,159.00p -1.59% Associated British Foods (ABF) 1,809.50p -1.20% Pearson (PSON) 1,124.50p -1.19%