FTSE 100 movers: Evraz gains ground but Intertek dented by downgrade
London’s FTSE 100 was up 0.6% to 7,008.58 in afternoon trade on Friday as investors digested the latest non-farm payrolls report.
Steel maker Evraz advanced a day after the release of a production report, while consumer goods group Unilever recovered from losses in the previous session on the back of its full-year results and a warning that 2019 will remain "challenging".
On the downside, precious metals miner Fresnillo lost its shine as gold prices slipped back, while Glencore retreated after saying it unearthed more copper, cobalt and nickel in the fourth quarter of 2018 compared to the quarter before, while zinc, lead, gold and silver all dipped.
Intertek was under the cosh as Jefferies downgraded the product-testing company’s stock to ‘hold’ from ‘buy’.
"There has been a disconnect in messaging around outlook for the consumer division between Intertek and the other main peers Bureau Veritas and SGS. The latter two companies have been messaging some caution for the first half 2019 while Intertek has remained more relaxed about the impact," it said.
"While Intertek’s products division now houses a lot more than just consumer products, we estimate softlines, hardlines and electronics is circa 50 per cent of the division. The China testing part is a high-margin activity within a high-margin part of that division."
FTSE 100 - Risers
Melrose Industries (MRO) 174.35p 3.38%
Evraz (EVR) 510.00p 2.37%
Burberry Group (BRBY) 1,843.50p 2.33%
Coca-Cola HBC AG (CDI) (CCH) 2,616.00p 2.27%
Unilever (ULVR) 4,072.50p 2.21%
Hikma Pharmaceuticals (HIK) 1,644.00p 2.08%
Direct Line Insurance Group (DLG) 343.60p 2.05%
Experian (EXPN) 1,950.50p 2.01%
Anglo American (AAL) 1,981.40p 1.99%
Croda International (CRDA) 4,914.00p 1.93%
FTSE 100 - Fallers
Fresnillo (FRES) 977.60p -2.73%
Glencore (GLEN) 304.55p -1.58%
Intertek Group (ITRK) 4,854.00p -1.10%
BT Group (BT.A) 230.15p -0.97%
Auto Trader Group (AUTO) 453.30p -0.81%
Tesco (TSCO) 221.40p -0.76%
Barclays (BARC) 157.18p -0.63%
Centrica (CNA) 135.55p -0.62%
GVC Holdings (GVC) 668.50p -0.52%
Johnson Matthey (JMAT) 3,028.00p -0.49%