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FTSE 100 movers: DCC surges; Vodafone slumps on results
(Sharecast News) - London's FTSE 100 was up 0.2% at 7,439.85 in afternoon trade on Tuesday. Sales, marketing and support services group DCC advanced as it announced the acquisition of Progas, a German distributor of liquified petroleum gas, for around €160m (£140m), and reported a 12% increase in first-half adjusted operating profit.
Events organiser Informa rallied after it lifted its full-year profit and revenue expectations as it hailed continuing strong growth across its portfolio.
Convatec gained after the medical products and technologies group narrowed its full-year sales guidance to the top of the expected range.
Land Securities was up after it saw a near-5% fall in net assets per share in its fiscal first half as it wrote down its portfolio by £375m, but said it expects a pick-up in investment activity in 2024.
Glencore was a high riser after saying it was spending $6.9bn to buy a 77% stake in Teck Resources' steelmaking coal business in Canada's Rocky Mountains, Elk Valley Resources (EVR).
Vodafone was on the back foot as it reiterated full-year guidance but reported a 4.3% drop in half-year group revenues and a 44% decline in operating profits.
M&G was knocked lower by a downgrade to 'sector perform' from 'outperform' at RBC Capital Markets, which turned more cautious on asset management. The bank said headwinds for asset management now appear "more acute and persistent" than it expected.
FTSE 100 - Risers
Ocado Group (OCDO) 578.40p 12.79% DCC (CDI) (DCC) 5,238.00p 12.26% Informa (INF) 744.40p 6.04% SEGRO (SGRO) 807.00p 5.16% Convatec Group (CTEC) 218.00p 4.51% Anglo American (AAL) 2,117.00p 4.21% Land Securities Group (LAND) 627.40p 3.70% Unite Group (UTG) 988.50p 3.67% B&M European Value Retail S.A. (DI) (BME) 550.00p 3.62% Glencore (GLEN) 446.00p 3.61%
FTSE 100 - Fallers
Vodafone Group (VOD) 75.07p -3.01% M&G (MNG) 203.50p -1.97% BT Group (BT.A) 120.75p -1.79% Shell (SHEL) 2,613.00p -1.64% Smith (DS) (SMDS) 292.50p -1.61% BP (BP.) 478.95p -1.19% Reckitt Benckiser Group (RKT) 5,466.00p -1.16% Entain (ENT) 881.40p -1.14% BAE Systems (BA.) 1,095.50p -1.13% British American Tobacco (BATS) 2,520.00p -0.88%
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