FTSE 100 movers: Johnson Matthey rallies but Fresnillo loses its shine

Thu 21 Sep 2017

LONDON (SHARECAST) - (ShareCast News) - London's FTSE 100 was flat at 7,271.33 in afternoon trade on Thursday as investors digested the latest UK borrowing figures.
Shares in Johnson Matthey surged as the specialty chemicals group confirmed its guidance for the year and announced a big investment in its battery material technology business.

In an update ahead of its capital markets day, the company said it plans to make an initial investment of up to 200m in its battery material technology business starting next year, to build capacity to drive growth in a market which could be more than $30bn sales when battery electric vehicle penetration increases to around 10%.

Investors appeared to be reassured that the investment will tap into the electric market, helping to mitigate the company's reliance on the declining diesel market.

CRH rallied as it struck a deal to acquire Kansas-based Ash Grove Cement Company for $3.5bn, while Anglo American was on the front foot on news that Indian billionaire Anil Agarwal plans to up his stake in the company to just over 20% from 13%.

Banks racked up healthy gains after the US Federal Reserve said on Wednesday that it will start winding down its $4.5trn balance sheet in October and suggested that one more rate increase is likely by the end of the year.

On the downside, Fresnillo was weaker despite saying that its headquarters and production facilities in Mexico were not affected by the earthquake there.

Catering group Compass also retreated after announcing that Richard Cousins will step down from his role as chief executive officer on 31 March 2018. Cousins, who will retire from the group at the end of next September, will be succeeded by current chief operating officer for Europe, Dominic Blakemore.


Johnson Matthey (JMAT) 3,289.00p 11.19%
Barclays (BARC) 191.15p 2.82%
CRH (CRH) 2,719.00p 2.41%
Anglo American (AAL) 1,323.50p 2.28%
Lloyds Banking Group (LLOY) 66.98p 1.93%
Royal Bank of Scotland Group (RBS) 260.90p 1.79%
Prudential (PRU) 1,785.00p 1.05%
Aviva (AV.) 506.50p 1.00%
Standard Life Aberdeen (SLA) 417.60p 0.99%
Standard Chartered (STAN) 738.70p 0.94%


Fresnillo (FRES) 1,389.00p -3.68%
Randgold Resources Ltd. (RRS) 7,230.00p -3.21%
Sainsbury (J) (SBRY) 237.20p -2.87%
Kingfisher (KGF) 304.50p -2.72%
Antofagasta (ANTO) 921.00p -2.38%
Severn Trent (SVT) 2,156.00p -2.36%
Taylor Wimpey (TW.) 184.10p -2.33%
Old Mutual (OML) 193.20p -2.23%
Compass Group (CPG) 1,581.00p -1.92%
Mediclinic International (MDC) 672.50p -1.82%
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