FTSE 100 movers: Ashtead rallies but Provident Financial hit by Liberum note

Wed 30 Aug 2017

LONDON (SHARECAST) - (ShareCast News) - London's FTSE 100 was up 0.5% to 7,373.87 in afternoon trade on Wednesday.
Broadcaster ITV was bouncing back from heavy losses in the previous session when it was hit by a revenue warning from German peer ProSiebenSat.1. The stock was also lifted by the fact that Liberum included it in its top 10 'conviction buy' list, saying ITV was its top pick in the media sector.

Rental equipment firm Ashtead was on the front foot, with traders pointing to a possible boost from the rebuild following Hurricane Harvey in the US.

Sainsbury's was trading higher, with traders highlighting a Bloomberg column suggesting that the retailer had a "lucky escape" after Nisa entered into exclusive talks with Co-Operative Group just over two weeks after Sainsbury's decided to postpone a potential bid.

Provident Financial - whose shares tanked last week on a quadruple whammy of bad news that included a profit warning - went the other way after Liberum added the subprime lender to its 'conviction sell' list. It said that despite a severe devaluation, there is no compelling reason to own the shares. The brokerage cut its earnings per share forecasts for 2017/18/19 by 67%, 39% and 41%, respectively.

Johnson Matthey was on the back foot despite Citigroup saying that underperformance of the shares has created "a great buying opportunity".


Ashtead Group (AHT) 1,649.00p 3.39%
ITV (ITV) 157.00p 2.61%
Sainsbury (J) (SBRY) 236.50p 2.51%
Associated British Foods (ABF) 3,280.00p 1.99%
BAE Systems (BA.) 600.50p 1.78%
Morrison (Wm) Supermarkets (MRW) 246.10p 1.65%
Barratt Developments (BDEV) 620.00p 1.64%
DCC (DCC) 7,050.00p 1.51%
G4S (GFS) 289.50p 1.51%
Rolls-Royce Holdings (RR.) 910.00p 1.45%


easyJet (EZJ) 1,181.00p -2.07%
Provident Financial (PFG) 888.00p -2.04%
Mediclinic International (MDC) 744.50p -1.33%
Johnson Matthey (JMAT) 2,766.00p -1.11%
Informa (INF) 680.50p -0.87%
Royal Bank of Scotland Group (RBS) 248.70p -0.84%
International Consolidated Airlines Group SA (CDI) (IAG) 604.50p -0.82%
AstraZeneca (AZN) 4,457.00p -0.77%
Old Mutual (OML) 207.20p -0.62%
Randgold Resources Ltd. (RRS) 7,870.00p -0.57%
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