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FTSE 100 movers: Sainsbury's rallies on Argos news, BT slumps
(Sharecast News) - London's FTSE 100 was flat at 9,285.39 in afternoon trade on Monday. Sainsbury's rallied as it said talks with China's JD.com over the potential sale of Argos have collapsed.
In a brief statement, the retailer said JD.com was now only prepared to engage on a "materially revised" set of terms and commitments, which were not in the best interest of shareholders.
Centrica gained after it struck a major deal with America's X-energy to build modular nuclear reactors in the UK.
BT Group fell as it said two representatives from major shareholder Bharti Global - Indian telecoms billionaire Sunil Bharti Mittal and Gopal Vittal - have joined the board as non-executives directors.
AstraZeneca slumped after announcing a pause in its plans to invest £200m at its Cambridge research site.
Richard Hunter, head of markets at Interactive Investor, said this was "hot on the heels of other pharmaceutical strategic withdrawals given the perceived lack of interest from the government".
He added: "Despite the dip, the shares are up by 21% so far this year, but from a UK perspective such moves add to the possibility that Astra could seek to reflect its US exposure by switching its primary listing, which would be a major reputational blow."
FTSE 100 - Risers
Sainsbury (J) (SBRY) 321.40p 4.62% Centrica (CNA) 165.95p 3.49% Marks & Spencer Group (MKS) 349.40p 3.31% Beazley (BEZ) 838.00p 2.89% Smurfit Westrock (DI) (SWR) 3,378.00p 2.71% ICG (ICG) 2,296.00p 2.04% Rolls-Royce Holdings (RR.) 1,152.00p 1.95% International Consolidated Airlines Group SA (CDI) (IAG) 388.50p 1.70% easyJet (EZJ) 477.10p 1.66% Lloyds Banking Group (LLOY) 83.94p 1.62%
FTSE 100 - Fallers
BT Group (BT.A) 200.30p -2.63% AstraZeneca (AZN) 11,520.00p -2.32% Airtel Africa (AAF) 223.80p -2.01% Haleon (HLN) 356.90p -1.38% The Sage Group (SGE) 1,060.00p -1.26% Rightmove (RMV) 718.20p -1.13% Fresnillo (FRES) 2,132.00p -1.11% GSK (GSK) 1,487.00p -1.10% Diploma (DPLM) 5,480.00p -1.08% CRH (CDI) (CRH) 8,356.00p -1.02%
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