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FTSE 100 movers: Ocado, Unilever slump; Retailers rally
(Sharecast News) - London's FTSE 100 was down 0.6% at 7,581.34 in afternoon trade on Tuesday. Retailers were on the rise with Mike Ashley's Frasers Group, discounter B&M, B&Q owner Kingfisher and JD Sports all up.
Unilever fell as it announced that chief financial officer Graeme Pitkethly plans to retire by the end of May 2024. The consumer goods giant said the board will now proceed with a formal internal and external search for his successor.
Jefferies, which rates the shares at 'buy', said: "The change of CFO is not entirely surprising given that a new CEO is taking the reins from July. With these exits, Hein Schumacher can begin to reshape Unilever's Leadership Executive for the future."
Rolls-Royce was also weaker after India's Central Bureau of Investigation reportedly filed a criminal complaint against it and BAE Systems over previous fighter jet supply deals. The CBI alleged that, between 2003 and 2012, the companies engaged in a "criminal conspiracy" to "cheat" the Indian government over deals to make BAE Hawk 115 aircraft, which used Rolls-Royce engines.
Ocado was also on the back foot as the online supermarket faces potential demotion from the top-flight index.
FTSE 100 - Risers
Frasers Group (FRAS) 692.00p 2.98% B&M European Value Retail S.A. (DI) (BME) 473.20p 2.42% Abrdn (ABDN) 206.50p 2.33% Kingfisher (KGF) 236.40p 2.25% Endeavour Mining (EDV) 2,052.00p 2.09% Hargreaves Lansdown (HL.) 816.20p 1.97% BT Group (BT.A) 146.75p 1.87% Centrica (CNA) 120.55p 1.82% WPP (WPP) 888.60p 1.79% Admiral Group (ADM) 2,359.00p 1.72%
FTSE 100 - Fallers
Rolls-Royce Holdings (RR.) 144.70p -2.92% Unilever (ULVR) 4,070.00p -2.37% Shell (SHEL) 2,300.50p -2.21% Ocado Group (OCDO) 398.80p -2.01% Diageo (DGE) 3,433.00p -1.86% BP (BP.) 468.45p -1.77% British American Tobacco (BATS) 2,624.00p -1.72% HSBC Holdings (HSBA) 600.80p -1.64% Entain (ENT) 1,380.00p -1.57% Croda International (CRDA) 6,156.00p -1.31%
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