FTSE 100 movers: Imperial Brands gains; Games Workshop in the red

(Sharecast News) - London's FTSE 100 was down 0.2% at 8,719.07 in afternoon trade on Friday. Imperial Brands was among the gainers as RBC Capital Markets lifted its price target on the stock to 2,400p from 2,100p.

The bank, which rates the shares at 'sector perform', said encouraging market share and a track record of delivery on expectations give it higher confidence in Imperial Brands' operating profit growth outlook, driving higher estimates.

RBC said that over the last year, Imperial Brands has shown good progress in its challenger approach - consistently investing in products, sales teams and data.

"Its improved market share momentum (with aggregate market share gain of +6bps in its five priority markets) and scaling NGP business - especially in the US - give us higher confidence in its ability to improve margin," it said.

"This leads to our higher operating profit estimates over the midterm."

Warhammer maker Games Workshop tumbled as it said its current-year licensing revenue would not match 2024/25's record of £50m, but also that pre-tax profit for the 52 weeks to 1 June would be at least £255m, smashing estimates of £225m.

Russ Mould, investment director at AJ Bell, said: "It's been a monumental year for Games Workshop as it has delivered a string of good news around earnings and enjoyed promotion to the prestigious FTSE 100 index. It's capped that year off with another upgrade to earnings guidance.

"Games Workshop has enjoyed terrific success with licencing assets for the Warhammer 40,000: Space Marine 2 video game. There's a warning that licencing gains seen over the past 12 months won't be matched in the new financial year, which explains why the shares have pulled back on the trading update.

"However, the pipeline looks strong enough to keep most investors on side. In addition to another Space Marine game being developed, it has all the licencing income from a deal with Amazon to look forward to."

FTSE 100 - Risers

Anglo American (AAL) 2,189.50p 3.28% Fresnillo (FRES) 1,124.00p 1.63% Imperial Brands (IMB) 2,795.00p 1.08% easyJet (EZJ) 555.00p 0.95% British American Tobacco (BATS) 3,320.00p 0.79% Tesco (TSCO) 383.50p 0.52% Convatec Group (CTEC) 280.80p 0.43% 3i Group (III) 4,083.00p 0.39% Auto Trader Group (AUTO) 900.20p 0.29% National Grid (NG.) 1,089.00p 0.05%

FTSE 100 - Fallers

Games Workshop Group (GAW) 15,170.00p -4.41% Prudential (PRU) 817.80p -3.88% Beazley (BEZ) 915.50p -3.58% Diageo (DGE) 1,996.00p -3.15% Mondi (MNDI) 1,175.50p -3.13% Weir Group (WEIR) 2,294.00p -3.13% Standard Chartered (STAN) 1,130.50p -3.04% JD Sports Fashion (JD.) 82.60p -3.01% Diploma (DPLM) 4,622.00p -2.98% International Consolidated Airlines Group SA (CDI) (IAG) 316.80p -2.94%