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CATEGORY: RISERS AND FALLERS

FTSE 100 movers: Tesco gains but WPP slumps on interims

Wed 23 Aug 2017

LONDON (SHARECAST) - (ShareCast News) - London's FTSE 100 was down 0.1% to 7,371.23 in afternoon trade.
Antofagasta was the standout gainer as Deutsche Bank upped its price target on the stock to 800p from 700p as it lifted its earnings per share estimates after the company's better-than-expected first-half results.

Tesco was on the front foot after saying it will open a compensation scheme for about 10,000 eligible shareholders and bondholders who were misled by a trading statement in august 2014 that overstated the company's half-year profits.

The scheme, which was announced on 28 March and agreed with the Financial Conduct Authority, will compensate investors who were net purchases of Tesco shares or certain Tesco listed bonds between 29 August 2014 and 19 September 2014.

Subprime lender Provident Financial was in the black, clawing back some small gains following a 66% plunge on Tuesday after it issued its second profit warning in two months, withdrew its dividend, announced the departure of its CEO and revealed an FCA investigation into Vanquis Bank.

Advertising giant WPP suffered heavy losses after it reported slightly weaker-than-expected top line growth at the half year stage and cut its guidance for full-year like-for like sales on the back of weaker spending by consumer goods firms.

At 7.4bn for the latest six-month stretch, which was 13.3% ahead of the prior year period, the company fell slightly short of the consensus forecast for 7.5bn.

Risers

Antofagasta (ANTO) 991.00p 1.80%
Tesco (TSCO) 187.35p 1.71%
Fresnillo (FRES) 1,565.00p 1.62%
Provident Financial (PFG) 598.50p 1.53%
Morrison (Wm) Supermarkets (MRW) 252.70p 1.45%
AstraZeneca (AZN) 4,497.50p 1.43%
Rio Tinto (RIO) 3,583.00p 1.23%
Worldpay Group (WPG) 430.10p 1.06%
Glencore (GLEN) 351.95p 0.96%
Marks & Spencer Group (MKS) 322.00p 0.88%

Fallers

WPP (WPP) 1,426.00p -10.54%
Paddy Power Betfair (PPB) 7,045.00p -2.08%
ITV (ITV) 162.50p -1.93%
Standard Life Aberdeen (SLA) 429.80p -1.63%
easyJet (EZJ) 1,273.00p -1.55%
Ferguson (FERG) 4,597.00p -1.29%
Merlin Entertainments (MERL) 461.10p -1.09%
BAE Systems (BA.) 589.00p -1.09%
Informa (INF) 692.50p -1.07%
Taylor Wimpey (TW.) 194.10p -1.07%
 
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