FTSE 100 movers: Asia-focused stocks retreat; Whitbread recovers

Fri 22 May 2020

LONDON (SHARECAST) - (Sharecast News) - London's FTSE was down 0.7% at 5,975.90 in afternoon trade on Friday.
Asia-focused stocks Prudential, HSBC and Standard Chartered were all weaker after it emerged that China is planning to introduce a national security law on Hong Kong that would ban "treason, secession, sedition and subversion" of the central government in Beijing.

Elsewhere, United Utilities in the red as it increased its final dividend but said it would review its dividend policy after 56m of Covid-19 costs contributed to a 5m decline in annual operating profit.

Operating profit for the year to the end of March fell to 630.3m from 634.9m as revenue rose to 1.86bn from 1.82bn. Costs related to Covid-19 were 56m including 18.1m of expected bad debts and 37m for losses at the Water Plus joint venture.

Going the other way, Premier Inn owner Whitbread was the standout gainer, having tumbled a day earlier after saying it was raising 1bn in a rights issue to bolster its balance sheet against the impact of the coronavirus pandemic as it warned of a potential loss in 2021.

Luxury fashion brand Burberry rallied despite pulling its final dividend and saying it took a 241m hit as a result of the coronavirus pandemic.

FTSE 100 - Risers

Whitbread (WTB) 2,560.00p 4.02%
InterContinental Hotels Group (IHG) 3,692.00p 3.88%
Carnival (CCL) 1,012.00p 3.31%
Royal Bank of Scotland Group (RBS) 106.30p 3.00%
Legal & General Group (LGEN) 191.10p 2.91%
Burberry Group (BRBY) 1,413.00p 2.76%
M&G (MNG) 123.90p 2.65%
ITV (ITV) 77.92p 2.53%
Auto Trader Group (AUTO) 517.40p 2.46%
CRH (CRH) 2,484.00p 2.10%

FTSE 100 - Fallers

Prudential (PRU) 1,024.00p -8.12%
International Consolidated Airlines Group SA (CDI) (IAG) 194.75p -5.51%
Severn Trent (SVT) 2,339.00p -5.23%
United Utilities Group (UU.) 874.20p -5.18%
HSBC Holdings (HSBA) 383.00p -3.99%
Pennon Group (PNN) 1,103.00p -3.25%
National Grid (NG.) 879.60p -3.23%
Centrica (CNA) 35.56p -2.55%
Tesco (TSCO) 223.30p -1.67%
Standard Chartered (STAN) 385.80p -1.46%
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