FTSE 100 movers: Frasers jumps; utilities give back gains

London’s FTSE 100 was down 1.2% at 8,011.35 in afternoon trade on Friday.

Frasers Group was the top gainer after Boohoo shareholders voted overwhelmingly against the appointment to the board of Mike Ashley and restructuring expert Mike Lennon.

Just under 64% of shareholders voted against each of the proposed appointments.

In a number of open letters, Frasers had urged Boohoo to make both appointments, having criticised the company’s "dismal" interim results and "long-term mismanagement".

Water companies were under the cosh, having gained on Thursday after regulator Ofwat announced its final determination for the five-year period to 2030, saying that average bills would increase by 36% in England and Wales, the equivalent of around £31 per year.

Severn Trent and United Utilities were the worst performers on the index.

FTSE 100 - Risers

Frasers Group (FRAS) 620.00p 1.72%
LondonMetric Property (LMP) 177.60p 1.14%
Rentokil Initial (RTO) 396.00p 1.12%
B&M European Value Retail S.A. (DI) (BME) 357.20p 0.62%
SEGRO (SGRO) 685.80p 0.56%
National Grid (NG.) 926.60p 0.54%
Vistry Group (VTY) 648.00p 0.31%
Sainsbury (J) (SBRY) 272.00p 0.22%
SSE (SSE) 1,601.50p 0.22%
Land Securities Group (LAND) 560.50p 0.18%

FTSE 100 - Fallers

Severn Trent (SVT) 2,484.00p -3.50%
United Utilities Group (UU.) 1,035.00p -2.73%
Smurfit Westrock (DI) (SWR) 4,034.00p -2.51%
Rolls-Royce Holdings (RR.) 566.00p -2.35%
Beazley (BEZ) 795.00p -2.09%
Intermediate Capital Group (ICG) 2,036.00p -1.93%
Melrose Industries (MRO) 538.00p -1.90%
Hiscox Limited (DI) (HSX) 1,086.00p -1.81%
Scottish Mortgage Inv Trust (SMT) 923.00p -1.79%
Anglo American (AAL) 2,298.50p -1.69%