FTSE 100 movers: Capita gains while miners were mixed
The FTSE 100 index was down 0.04% at 6,965.37 in the late afternoon.
Software product group Micro Focus International advanced as it announced its unaudited interim results for the six months to 31 October on Wednesday, with revenues of $684.7m, 14.2% higher than the prior year's constant currency figures.
Outsourcing and professional services company Capita was on the rise despite a downgrade from Jeffries to ‘hold’ from ‘buy’ and a reduction in the broker´s price target to 465p from 815p, until visibility improves.
Gold prices were on the rise sending shares in gold miners Randgold Resources, Polymetal International and Anglo American up. JP Morgan also highlighted the attractiveness of Anglo American in a note on metals and the mining sector by upping the target price to 430p from 390p, but cutting its rating to ‘underweight’.
Telecoms retailer Dixons Carphone suffered a blow despite first-half profits growing faster than expected. The company upped its dividend as the electricals retailer confidently prepared for its crucial festive season and "more uncertain times ahead" as the UK exits from the EU.
Barclays was in the red as Exane downgraded its stock to ‘neutral’ from ‘outperform’ but raised the target price to 245p from 228p. The issue now is that the shares trade at 0.8 times current tangible net asset value (TNAV) and the broker reckons they could struggle to progress.
In JP Morgan's note on miners, Antofagasta and Glencore were downgraded sending their shares down.
Risers
Polymetal International (POLY) 808.50p 6.80%
Micro Focus International (MCRO) 2,235.00p 4.93%
Capita (CPI) 471.00p 4.11%
Whitbread (WTB) 3,569.00p 3.15%
Fresnillo (FRES) 1,171.00p 2.72%
Randgold Resources Ltd. (RRS) 5,920.00p 2.42%
Standard Chartered (STAN) 683.90p 2.35%
Sainsbury (J) (SBRY) 250.80p 2.03%
St James's Place (STJ) 1,009.00p 2.02%
Anglo American (AAL) 1,200.50p 1.87%
Fallers
Dixons Carphone (DC.) 345.20p -5.86%
Barclays (BARC) 223.40p -2.91%
Antofagasta (ANTO) 718.50p -2.71%
3i Group (III) 674.50p -2.25%
Mondi (MNDI) 1,549.00p -2.21%
Royal Mail (RMG) 444.10p -1.92%
Glencore (GLEN) 280.10p -1.49%
International Consolidated Airlines Group SA (CDI) (IAG) 440.00p -1.46%
Barratt Developments (BDEV) 454.10p -1.45%
SSE (SSE) 1,503.00p -1.44%