News

CATEGORY: RISERS AND FALLERS

FTSE 100 movers: LSE slumps as HKEX abandons bid; Polymetal boosted by upgrade

Tue 08 Oct 2019

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 100 was down 0.4% at 7,166.39 in afternoon trade on Tuesday amid worries about upcoming Sino-US trade talks and as hopes of a Brexit deal faded.
London Stock Exchange was under the cosh after Hong Kong Exchanges and Clearing abandoned its 32bn offer for the company, having been unable to engage with management.

London Capital Group analyst Jasper Lawler said: "Of course there is always the issue of valuation, but we think the HK bid failed for much the same reason the previous effort from Deutsche Boerse did: a clear unwillingness to sell from LSE management and most shareholders.

"There is a well-known sideline issue that may be contributing to this anti-sale attitude. At a time of financial uncertainty before the UK leaves the EU, few British shareholders want to see the nation's stock exchange in foreign hands."

Housebuilders were also under pressure as worries about Brexit intensified, with Taylor Wimpey and Persimmon both weaker.

Going the other way, precious metals miner Polymetal was the standout gainer after an upgrade to 'buy' at Renaissance Capital, while Fresnillo rose as Bank of America Merrill Lynch lifted its price target on the stock.

Coca-Cola HBC gained ground as Credit Suisse cut its price target on the stock to 3,150p from 3,250p but kept its 'outperform' rating.

FTSE 100 - Risers

Polymetal International (POLY) 1,169.50p 2.27%
Coca-Cola HBC AG (CDI) (CCH) 2,589.00p 1.69%
Relx plc (REL) 1,892.50p 1.50%
Smith & Nephew (SN.) 1,935.50p 1.36%
Croda International (CRDA) 4,800.00p 0.93%
Smurfit Kappa Group (SKG) 2,446.00p 0.91%
Experian (EXPN) 2,571.00p 0.90%
Intertek Group (ITRK) 5,376.00p 0.86%
Fresnillo (FRES) 680.20p 0.80%
Phoenix Group Holdings (PHNX) 664.00p 0.76%

FTSE 100 - Fallers

London Stock Exchange Group (LSE) 7,106.00p -4.64%
ITV (ITV) 117.95p -3.71%
Taylor Wimpey (TW.) 144.95p -3.21%
Persimmon (PSN) 2,003.00p -3.19%
Whitbread (WTB) 4,022.00p -3.08%
International Consolidated Airlines Group SA (CDI) (IAG) 454.40p -3.03%
Tesco (TSCO) 230.60p -2.70%
Royal Bank of Scotland Group (RBS) 189.85p -2.67%
British Land Company (BLND) 542.00p -2.62%
NMC Health (NMC) 2,505.00p -2.57%
 
Archived Stories

29 May FTSE 250 movers: TUI travels lower; B&M rallies on update
29 May FTSE 100 movers: Rolls-Royce retreats again; Ocado rallies
28 May FTSE 250 movers: Cineworld surges; Signature Aviation hit by downgrade
28 May FTSE 100 movers: M&G rallies; Rolls-Royce retreats on stake sale
27 May FTSE 250 movers: TUI travels higher again; Marston's fizzes lower



www.bolsamania.com www.sharecast.com http://www.proshareclubs.co.uk/ www.digitallook.com