FTSE 100 movers: Compass recovers but housebuilders drop

London’s FTSE 100 was flat at 6,817.68 in afternoon trade as market participants digested the Autumn Statement.

Compass was the standout gainer a day after it slumped as investors reacted harshly to a solid set of full-year results.

The company’s results on Tuesday hit their target as North American strength offset a challenging final quarter in Europe and further afield, while the catering giant said growth next year will be weighted to the second half.

Wolseley was on the front foot as Canaccord Genuity lifted its price target on the builders’ merchant to 4,600p from 4,320p ahead of its first-quarter update.

3i Group, which has been focusing more on infrastructure investments, was also up after Chancellor Philip Hammond announced £1bn of new funding for digital infrastructure.

Water company Severn Trent rose as it said it was considering its options after Ancala Fornia gazumped its bid for smaller water services provider Dee Valley Group.

Housebuilders Persimmon, Taylor Wimpey and Barratt Developments were all under the cosh despite the announcement of a £2.3bn fund to build up to 100,000 new homes in high demand areas and a £1.4bn injection into affordable housing schemes.

Spreadex’s Connor Campbell said investors may be disappointed by a lack of stamp duty reversal.

Supermarket Tesco and clothing retailer Next were in the red, with traders pointing to the fact they will be hit by the increase in the National Living Wage to £7.50 from £7.20 in April next year.

Insurer Admiral was also among the losers as Hammond said insurance premium tax is set to rise to 12% from 10%.

Risers

Compass Group (CPG) 1,355.00p 2.19%
Bunzl (BNZL) 2,042.00p 1.79%
Wolseley (WOS) 4,697.00p 1.64%
3i Group (III) 664.50p 1.37%
Provident Financial (PFG) 2,967.00p 1.12%
Severn Trent (SVT) 2,243.00p 1.04%
Smiths Group (SMIN) 1,393.00p 0.94%
BAE Systems (BA.) 601.50p 0.92%
Rolls-Royce Holdings (RR.) 666.00p 0.91%
Carnival (CCL) 4,123.00p 0.83%

Fallers

Persimmon (PSN) 1,721.00p -3.21%
Antofagasta (ANTO) 680.00p -3.13%
Fresnillo (FRES) 1,242.00p -3.12%
Tesco (TSCO) 212.50p -2.83%
Royal Bank of Scotland Group (RBS) 202.30p -2.65%
Taylor Wimpey (TW.) 147.80p -2.31%
Barratt Developments (BDEV) 475.50p -2.26%
Land Securities Group (LAND) 967.00p -2.22%
Next (NXT) 4,930.00p -2.09%
Admiral Group (ADM) 1,928.00p -1.98%