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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Whitbread rallies on results; IAG flies lower

Wed 18 Oct 2023 14:08

(Sharecast News) - London's FTSE 100 was down 0.7% at 7,622.85 in afternoon trade on Wednesday. Whitbread rallied to the top of the index after the Premier Inn owner posted a 44% jump in interim adjusted pre-tax profit, hiked its dividend and announced a £300m share buyback.

Housebuilders were under the cosh after Barratt Developments said it remains on track to hit targeted home completions but that the outlook for the year "remains uncertain". Taylor Wimpey and Berkeley fell.

The sector was also dented after a hotter-than-expected UK inflation print raised expectations that interest rates will need to remain elevated.

BA and Iberia owner IAG flew lower after United Airlines said it was forecasting weaker earnings for the fourth quarter due to higher costs.

AstraZeneca was trading lower. CMC Markets analyst Michael Hewson said the shares took a hit "after it emerged by way of a data leak that the pharmaceutical company's new lung and breast cancer medicine wasn't as effective on treating lung cancer as early results suggested it might be".

St James's Place was in the red after HSBC cut the shares to 'hold'.

FTSE 100 - Risers

Whitbread (WTB) 3,423.00p 3.01% Endeavour Mining (EDV) 1,705.00p 1.61% BT Group (BT.A) 118.55p 1.02% Fresnillo (FRES) 562.80p 0.90% M&G (MNG) 200.00p 0.86% United Utilities Group (UU.) 1,038.00p 0.83% Reckitt Benckiser Group (RKT) 5,910.00p 0.65% InterContinental Hotels Group (IHG) 6,174.00p 0.62% Vodafone Group (VOD) 77.98p 0.54% Haleon (HLN) 340.35p 0.49%

FTSE 100 - Fallers

Taylor Wimpey (TW.) 107.55p -3.76% Barratt Developments (BDEV) 408.00p -3.75% AstraZeneca (AZN) 10,868.00p -3.57% Weir Group (WEIR) 1,759.00p -2.52% Berkeley Group Holdings (The) (BKG) 4,006.00p -2.27% International Consolidated Airlines Group SA (CDI) (IAG) 142.80p -2.19% Anglo American (AAL) 2,218.50p -2.16% St James's Place (STJ) 654.40p -2.12% Rolls-Royce Holdings (RR.) 211.10p -2.09% Mondi (MNDI) 1,345.00p -2.07%

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