|CATEGORY: RISERS AND FALLERS
Thu 08 Nov 2018
LONDON (SHARECAST) - (Sharecast News) - London's FTSE 100 was up 0.2% at 7,134.20 in afternoon trade on Thursday, helped along by well-received updates from Coca-Cola and AstraZeneca.
Coca-Cola HBC was the standout gainer as the soft drinks bottler said third-quarter revenue was up 2.6% to £1.87bn, slightly ahead of analysts' expectations.
Shore Capital said the Q3 performance looked "solid".
"We believe the valuation following a de-rating in recent months is now starting to look more interesting so the stock is now on our watch list. We retain our hold stance for the time being," said analyst Phil Carroll.
AstraZeneca was on the rise as its product sales returned to growth in the third quarter, with new cancer drugs in particular beginning to make a noticeable impact on the top line.
Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: "On the face of it these numbers are far from pretty, with profits down 13% and operating profits off 26% - ouch! But scratch the surface and Astra is far from sickly. Its new drugs are flying off pharmacy shelves, particularly in oncology where the failure of the MYSTIC trial last year is a distant memory."
Luxury fashion brand Burberry gained as it said the response to new creative head Riccardo Tisci's Kingdom collection has been "exceptional" and posted a rise in interim like-for-like sales.
Marks & Spencer was also on the front foot after losing ground on Wednesday following a disappointing set results, which revealed a 3.1% declined in group revenue for the six months to the end of September.
On the downside, BP and Whitbread were on the back foot as their stock went ex-dividend.
FTSE 100 - Risers
Coca-Cola HBC AG (CDI) (CCH) 2,362.00p 4.51%
Burberry Group (BRBY) 1,889.50p 4.05%
AstraZeneca (AZN) 6,081.00p 3.82%
Carnival (CCL) 4,411.00p 3.08%
Lloyds Banking Group (LLOY) 59.90p 2.83%
Micro Focus International (MCRO) 1,289.50p 2.71%
Marks & Spencer Group (MKS) 308.80p 2.63%
Associated British Foods (ABF) 2,631.00p 2.57%
BT Group (BT.A) 255.55p 2.53%
Next (NXT) 5,468.00p 2.51%
FTSE 100 - Fallers
Paddy Power Betfair (PPB) 6,675.00p -2.27%
BP (BP.) 534.50p -1.80%
Smurfit Kappa Group (SKG) 2,474.00p -1.51%
Smith (DS) (SMDS) 376.80p -1.49%
Whitbread (WTB) 4,591.00p -0.99%
GVC Holdings (GVC) 874.50p -0.96%
British American Tobacco (BATS) 3,399.50p -0.77%
Reckitt Benckiser Group (RB.) 6,310.00p -0.66%
London Stock Exchange Group (LSE) 4,228.00p -0.66%
Johnson Matthey (JMAT) 3,025.00p -0.59%