FTSE 100 movers: ConvaTec jumps on results; Capita slumps

London’s FTSE 100 was up just 0.1% to 7,387.10 in afternoon trade, as investors paused for breath after the blue-chip index hit new highs in the previous session.

Medical technologies company ConvaTec was the standout gainer after it said adjusted revenue for 2016 grew 2.3% to $1.69bn, or 4% at constant exchange rates.

The group said adjusted EBITDA improved 7.1% to $508m, or 6.5% at constant currencies, while adjusted operating profit was ahead 8.1% to $472m, or 7.1% at constant exchange rates.

Croda and GKN were still gaining following well-received earnings earlier in the week.

On the downside, outsourcer Capita tanked as it lost a chief executive and a place in the FTSE 100, all while delivering another under par financial performance with reported full year profits slumping by 33% to £74.8m.

Legoland and Madame Tussauds owner Merlin Entertainments fell despite posting a rise in revenue and visitors for 2016 following a recovery in its resort theme parks, with analysts pointing to continued cost pressures and a conservative outlook.

RSA Insurance was weaker as its stock went ex-dividend.

Dixons Carphone was under the cosh as it was set to be demoted from the top-flight index following recent declines in its share price.

Schroders pushed lower. The company reported a 27% increase in its full-year assets under management to £397.1bn, which drove a 6% rise in profit before tax and exceptionals to £644.7m, but said net inflows fell sharply.

Risers

Convatec Group (CTEC) 256.40p 5.34%
Croda International (CRDA) 3,591.00p 3.10%
BT Group (BT.A) 335.55p 2.16%
DCC (DCC) 6,980.00p 1.75%
GKN (GKN) 376.40p 1.48%
Mondi (MNDI) 1,931.00p 1.31%
Shire Plc (SHP) 5,001.00p 1.03%
BAE Systems (BA.) 645.00p 1.02%
Hikma Pharmaceuticals (HIK) 2,194.00p 1.01%
AstraZeneca (AZN) 4,720.50p 0.94%

Fallers

Capita (CPI) 517.00p -8.50%
Merlin Entertainments (MERL) 480.00p -3.48%
Dixons Carphone (DC.) 299.90p -3.26%
ITV (ITV) 206.60p -2.41%
RSA Insurance Group (RSA) 590.50p -2.15%
Schroders (SDR) 3,062.00p -2.05%
Next (NXT) 3,941.00p -1.55%
3i Group (III) 699.50p -1.48%
Wolseley (WOS) 5,015.00p -1.47%
Marks & Spencer Group (MKS) 333.30p -1.33%