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FTSE 100 movers: Vodafone rallies on results; supermarkets drop
(Sharecast News) - London's FTSE 100 was up 1% at 9,882.09 in afternoon trade on Tuesday. Vodafone rallied as it said it expects annual profit and cash flow to be at the upper end of expectations after reporting a jump in adjusted earnings and also unveiled a new progressive dividend policy with a 2.5% increase for the full year.
WPP was a high riser after markets blog Betaville said the advertising firm was the subject of a renewed round of takeover rumours.
Betaville said people following the situation have heard fresh speculation that WPP has attracted takeover interest during the strategy review being carried out by new chief executive Cindy Rose.
Betaville said in an 'uncooked alert' that it was unclear which company is circling WPP, whose shares have fallen 64% this year following profit warnings, but reports in the past have suggested several companies and private equity firms have looked at buying the group.
Traders also suggested the share price jump could be down to news that WPP has engaged McKinsey & Company to advise on a comprehensive strategy overhaul.
Housebuilders Berkeley Group and Barratt Redrow advanced as the latest UK jobs data raised expectations of a rate cut next month.
Retailers Marks & Spencer, Tesco and Sainsbury were all under the cosh.
FTSE 100 - Risers
Vodafone Group (VOD) 94.94p 6.77% WPP (WPP) 299.00p 4.22% Haleon (HLN) 373.30p 2.81% Berkeley Group Holdings (The) (BKG) 4,082.00p 2.77% Barratt Redrow (BTRW) 399.20p 2.73% British American Tobacco (BATS) 4,253.00p 2.14% Lloyds Banking Group (LLOY) 94.90p 2.13% BT Group (BT.A) 180.85p 2.12% GSK (GSK) 1,809.50p 2.12% Pearson (PSON) 1,011.50p 2.03%
FTSE 100 - Fallers
Marks & Spencer Group (MKS) 378.30p -3.00% Tesco (TSCO) 462.50p -2.75% Auto Trader Group (AUTO) 730.40p -2.74% 3i Group (III) 4,184.00p -2.74% Sainsbury (J) (SBRY) 342.60p -2.39% Croda International (CRDA) 2,728.00p -1.91% Babcock International Group (BAB) 1,179.00p -1.26% Aviva (AV.) 675.60p -1.11% Smith & Nephew (SN.) 1,258.50p -0.98% Melrose Industries (MRO) 605.00p -0.92%
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