FTSE 100 movers: Burberry rallies but SSE slips again

Fri 14 Sep 2018

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 100 was up 0.3% to 7,305.37 in afternoon trade on Friday.
Burberry was the top riser after it was named the leading luxury brand in the 2018 Dow Jones Sustainability Index. The gains also came as Burberry prepares to show the debut collection from chief creative officer Riccardo Tisci on Monday at London Fashion Week.

Shire advanced after Japan's Takeda Pharmaceuticals' acquisition of the London-listed company was approved by Chinese regulators.

TUI was higher as it announced the acquisition of the Italian technology start-up Musement, which it said will strengthen its position in the excursions, tours and activities business in Italy.

DCC was on the front foot as Berenberg said it remains one of its top picks in business services following the company's capital markets day on Thursday and as RBC Capital Markets highlighted a good buying opportunity.

"We think the company did a good job of illustrating its meaningful opportunities for profitable growth (both organically and inorganically, with management. keen to stress the importance of the former). In our view, DCC also demonstrated its capability, with an experienced long-serving management team that is able to execute and deliver profitable growth across the portfolio, with returns well in excess of the cost of capital.

In addition, the bank said there is upside to the current share price given the opportunity for further high return, earnings-accretive M&A.

Berenberg reiterated its 'buy' rating and 8,700p price target on the stock.

Meanwhile, RBC Capital Markets said that given that the current valuation gap with other compounding growth names looks too great, DCC is a good buying opportunity at current levels. RBC reiterated its 'outperform' on DCC.

On the downside, GVC Holdings fell a day after the release of its first-half results, which showed that pre-tax profit and revenue rose amid strong momentum in the online and European retail segments and thanks to a boost from the World Cup.

Elsewhere, SSE was still under the cosh following its profit on Wednesday.

FTSE 100 - Risers

Burberry Group (BRBY) 2,137.00p 2.59%
Reckitt Benckiser Group (RB.) 6,670.00p 2.52%
Shire Plc (SHP) 4,497.00p 2.44%
TUI AG Reg Shs (DI) (TUI) 1,352.50p 1.96%
DCC (DCC) 7,065.00p 1.95%
Mondi (MNDI) 2,126.00p 1.87%
Kingfisher (KGF) 264.00p 1.85%
Rolls-Royce Holdings (RR.) 970.00p 1.57%
BAE Systems (BA.) 620.20p 1.54%
Scottish Mortgage Inv Trust (SMT) 542.79p 1.36%

FTSE 100 - Fallers

GVC Holdings (GVC) 1,035.00p -2.17%
SSE (SSE) 1,102.00p -1.61%
Fresnillo (FRES) 781.40p -1.51%
Smurfit Kappa Group (SKG) 3,042.00p -1.49%
Johnson Matthey (JMAT) 3,479.00p -1.22%
Paddy Power Betfair (PPB) 6,905.00p -1.15%
Informa (INF) 742.60p -1.07%
GlaxoSmithKline (GSK) 1,482.40p -0.88%
Marks & Spencer Group (MKS) 284.70p -0.87%
Morrison (Wm) Supermarkets (MRW) 258.00p -0.86%
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