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FTSE 100 movers: Schroders surges on update; Burberry out of fashion
(Sharecast News) - London's FTSE 100 was 0.5% firmer at 10,233.32 in afternoon trade on Thursday. Schroders surged to the top of the index after the asset manager said full-year adjusted operating profit was set to be at least £745m, coming in ahead of market expectations.
Luxury fashion brand Burberry lost ground. Bernstein said in a research note that luxury bears are concerned by falling growth in Chinese consumer demand and gold price inflation. It said consumers in China are becoming more discerning and "luxury brands may no longer rely on a steady stream of newly minted luxury consumers to drive growth in China".
Oil giant BP gushed lower as oil prices fell after US President Donald Trump toned down his language towards Iran's leaders over the killing of anti-regime protestors.
Joshua Mahony at Scope Markets said: "Oil prices have turned lower after Donald Trump cooled calls for near-term military action in Iran, saying he was reassured by information that the regime would stop killing people involved in the recent protests.
"While many will look at this as another opportunity for the US to open up a maligned nation to higher oil exports, the fact is that Iran already produces much more that Venezuela and that output is at risk if the government falls.
"Concerns around the potential disruption to the flow of oil through the straits of Hormuz, coupled with the potential impact on Iranian output in the event of a military conflict means that the recent bearish oil thesis has been turned on its head this week."
FTSE 100 - Risers
Schroders (SDR) 449.20p 7.62% 3i Group (III) 3,253.00p 7.18% LondonMetric Property (LMP) 202.20p 3.48% Persimmon (PSN) 1,397.50p 3.40% Marks & Spencer Group (MKS) 367.30p 3.29% Smiths Group (SMIN) 2,538.00p 3.17% ICG (ICG) 2,034.00p 3.09% Centrica (CNA) 181.80p 3.00% Tesco (TSCO) 430.40p 2.16% Spirax Group (SPX) 7,195.00p 1.91%
FTSE 100 - Fallers
Burberry Group (BRBY) 1,295.50p -2.63% BP (BP.) 432.55p -2.47% Compass Group (CPG) 2,264.00p -2.46% Fresnillo (FRES) 3,678.00p -2.34% Diageo (DGE) 1,664.50p -1.60% The Sage Group (SGE) 1,043.00p -1.04% Flutter Entertainment (DI) (FLTR) 14,945.00p -0.90% Mondi (MNDI) 900.60p -0.79% Smurfit Westrock (DI) (SWR) 3,169.00p -0.69% Intertek Group (ITRK) 4,584.00p -0.61%
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