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FTSE 100 movers: Water firms gush higher; DCC in the red
(Sharecast News) - London's FTSE 100 was up 0.3% at 8,219.41 in afternoon trade on Thursday. Severn Trent and United Utilities both gained after regulator Ofwat outlined draft determinations regarding the industry's five-year investment plans.
Severn Trent noted that the regulator had categorised its business plans as "outstanding".
Severn was in also in focus as it hailed a strong financial performance over its first quarter and said it continues to expect to hit guidance.
Severn Trent expects to deliver a net Outcome Delivery Incentive (ODI) reward - a measure used by Ofwat to monitor its performance - of more than £100m pre-customer-sharing in 2017/18 prices.
"This would bring our total net ODI reward in AMP7 to around £420m in nominal prices, reflecting consistent sector-leading performance for customers," it said.
On the downside, international sales, marketing and support services group DCC fell as it reported a "modest" improvement in first-quarter operating profit.
It also announced completion of the sale of its majority stake in Hong Kong & Macau Liquid gas business to CPL.
FTSE 100 - Risers
Severn Trent (SVT) 2,745.00p 4.89% United Utilities Group (UU.) 1,110.50p 4.17% Fresnillo (FRES) 625.50p 2.88% CRH (CDI) (CRH) 6,054.00p 2.75% Kingfisher (KGF) 267.90p 2.02% easyJet (EZJ) 487.60p 1.94% Rightmove (RMV) 550.60p 1.81% Sainsbury (J) (SBRY) 265.40p 1.76% Convatec Group (CTEC) 246.00p 1.74% Schroders (SDR) 383.00p 1.65%
FTSE 100 - Fallers
DCC (CDI) (DCC) 5,540.00p -2.64% Vodafone Group (VOD) 70.94p -2.07% Airtel Africa (AAF) 117.70p -1.51% Beazley (BEZ) 673.00p -1.17% Coca-Cola HBC AG (CDI) (CCH) 2,670.00p -1.11% BP (BP.) 450.55p -0.90% International Consolidated Airlines Group SA (CDI) (IAG) 176.45p -0.87% Relx plc (REL) 3,565.00p -0.83% Smith & Nephew (SN.) 1,084.00p -0.73% Shell (SHEL) 2,815.00p -0.64%
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