FTSE 100 movers: Miners rally but Tui drops on results

Thu 09 Aug 2018

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 100 was down 0.4% to 7,745.19 in afternoon trade on Thursday.
InterContinental Hotels Group was the standout gainer after slumping to a low of around four months on Tuesday followings its interim results.

Miners rallied, with Antofagasta and Glencore both higher on the back of rising copper prices and better-than-expected Chinese inflation figures.

On the downside, travel operator Tui retreated after sticking to its guidance for full-year underlying earnings growth but posting a drop in third-quarter underlying earnings.

Third-quarter underlying earnings before interest, taxes and amortisation fell 12.7% to €193.4m, in part due to the timing of Easter and currency movements, but revenue was up 5% to €5.02bn.

IG analyst Chris Beauchamp said: "The market has fallen out of love with the stock in spectacular fashion, and the loss of the 15 level will likely intensify the selling - this big level held back in the first part of the year, but it is rapidly receding into the distance. TUI looks to have gone too far, too fast in share price terms, and the firm is paying the price for elevated expectations."

BT, Direct Line, Royal Dutch Shell, GlaxoSmithKline and Rio Tinto were all on the back foot as their stock went ex-dividend.

FTSE 100 - Risers

InterContinental Hotels Group (IHG) 4,738.00p 1.96%
Fresnillo (FRES) 1,013.50p 1.59%
Croda International (CRDA) 5,266.00p 1.50%
Hargreaves Lansdown (HL.) 2,104.00p 1.40%
Antofagasta (ANTO) 975.40p 1.37%
Glencore (GLEN) 331.00p 1.36%
NMC Health (NMC) 4,036.00p 1.31%
Johnson Matthey (JMAT) 3,740.00p 1.16%
Tesco (TSCO) 265.03p 1.12%
AstraZeneca (AZN) 6,055.00p 1.10%

FTSE 100 - Fallers

TUI AG Reg Shs (DI) (TUI) 1,515.00p -4.27%
BT Group (BT.A) 230.10p -4.13%
CRH (CRH) 2,527.00p -2.96%
Direct Line Insurance Group (DLG) 325.30p -2.66%
Royal Dutch Shell 'B' (RDSB) 2,605.00p -1.81%
BP (BP.) 566.50p -1.77%
GlaxoSmithKline (GSK) 1,585.20p -1.71%
Royal Dutch Shell 'A' (RDSA) 2,566.00p -1.57%
Barratt Developments (BDEV) 538.60p -1.54%
Rio Tinto (RIO) 3,892.00p -1.52%
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