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FTSE 100 movers: Smurfit rallies on results; Rio in the red
(Sharecast News) - London's FTSE 100 was up 0.7% in afternoon trade on Wednesday at 7,356.85. Corrugated packaging company Smurfit Kappa rallied as it reported a rise in first-half profit and revenue despite increasing input costs and supply chain issues.
In the half year ending 30 June, pre-tax profit rose 86% to €769m, on revenue of €6.39bn, up 36% on the same period a year earlier. Meanwhile, earnings before interest, tax, depreciation and amortisation were 50% higher at €1.17bn and the interim dividend was lifted 8% to 31.6 cents a share.
Peers Mondi and DS Smith also gained.
Lloyds was in the black as it lifted annual guidance after a rise in net income for the half year due to rising interest rates, and despite a fall in pre-tax profits.
On the downside, student accommodation provider Unite Group fel even as it reported a jump in interim profits and said reservations are now ahead of pre-pandemic levels.
Rio Tinto lost ground after the miner posted a drop in first-half profit and cut its dividend.
FTSE 100 - Risers
International Consolidated Airlines Group SA (CDI) (IAG) 119.40p 5.51% Smurfit Kappa Group (CDI) (SKG) 2,845.00p 5.29% Mondi (MNDI) 1,479.50p 4.45% Lloyds Banking Group (LLOY) 45.43p 4.36% Smith (DS) (SMDS) 277.50p 4.24% Entain (ENT) 1,193.00p 4.24% Ocado Group (OCDO) 762.00p 3.53% Flutter Entertainment (CDI) (FLTR) 8,056.00p 3.52% InterContinental Hotels Group (IHG) 4,889.00p 3.25% Burberry Group (BRBY) 1,733.00p 2.94%
FTSE 100 - Fallers
Unite Group (UTG) 1,100.00p -6.78% Rio Tinto (RIO) 4,722.50p -2.09% Dechra Pharmaceuticals (DPH) 3,594.00p -1.48% British Land Company (BLND) 475.90p -1.25% United Utilities Group (UU.) 1,062.00p -1.07% SEGRO (SGRO) 1,039.50p -1.05% JD Sports Fashion (JD.) 126.50p -0.98% Severn Trent (SVT) 2,882.00p -0.93% Land Securities Group (LAND) 724.20p -0.77% Prudential (PRU) 977.40p -0.69%
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