FTSE 100 movers: Provident Financial board changes impress; Supermarkets hit by Amazon news

Fri 25 Aug 2017

LONDON (SHARECAST) - (ShareCast News) - London stocks had extended gains by midday on Friday, with a solid rebound by Provident Financial shares lifting the footsie.
The stock topped the risers list after the company said it had replaced the managing director of its consumer credit division, appointing Chris Gillespie "with immediate effect".

Gillespie takes over from Andy Parkinson, the company said in a statement. Shares in Provident tanked by 66% on Tuesday after an unexpected profit warning and the resignation of chief executive Peter Crook.

Supermarket shares all took a hit on the back of a statement from online giant Amazon that it was planning a round of price cuts when it completed its $13.7bn takeover of the Whole Foods grocery chain.

Tesco led the fallers, and was followed by sector peers Morrisons and Sainsbury's. Marks & Spencer, which has an upmarket food unit, also fell on the news.

Jeff Wilke, chief executive of Amazon Worldwide Consumer, said: "We're determined to make healthy and organic food affordable for everyone."

Market Movers

FTSE 100 (UKX) 7,434.70 0.37%

FTSE 100 - Risers

Provident Financial (PFG) 898.00p 20.05%
BHP Billiton (BLT) 1,454.50p 2.65%
Standard Life Aberdeen (SLA) 446.90p 2.43%
St James's Place (STJ) 1,204.00p 2.12%
Micro Focus International (MCRO) 2,338.00p 2.10%
Antofagasta (ANTO) 1,035.00p 2.07%
Shire Plc (SHP) 3,763.50p 1.85%
Rio Tinto (RIO) 3,699.00p 1.47%
Old Mutual (OML) 210.50p 1.40%
Hargreaves Lansdown (HL.) 1,380.00p 1.32%

FTSE 100 - Fallers

Tesco (TSCO) 184.15p -1.76%
Paddy Power Betfair (PPB) 6,825.00p -1.73%
Fresnillo (FRES) 1,570.00p -1.20%
WPP (WPP) 1,445.00p -1.16%
Kingfisher (KGF) 294.80p -1.07%
Centrica (CNA) 197.70p -1.05%
SSE (SSE) 1,413.00p -1.05%
Morrison (Wm) Supermarkets (MRW) 250.00p -0.91%
Sainsbury (J) (SBRY) 235.10p -0.89%
Marks & Spencer Group (MKS) 313.60p -0.88%
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