FTSE 100 movers: Hargreaves on the slide; Bunzl a bright spot

A warning to asset managers from the Financial Conduct Authority to get their houses in order over fee structures held the Footsie back on Wednesday, with Hargreaves Lansdown leading the losers list.

Shares in HL slid 2.54% in response to the FCA's near two-year consultation on the £7trn industry. In the final findings of its asset management market study, the regulator said competition in the market is weak and greater transparency is needed on prices.

Bunzl was the darling of the risers, after it said revenue for the half year was expected to have increased by 7% at constant exchange rates due to the improved underlying growth of between 3% and 4% and a similar impact from acquisitions. It also announced the acquisition of three further businesses in Spain and Canada.

Shares in Tesco rose after the supermarket giant said it was axing 1,200 jobs at its head offices in Welwyn Garden City and Hatfield. This follows plans to close its call centre in Cardiff with the loss of 1,100 jobs.

Market Movers

FTSE 100 (UKX) 7,436.34 0.03%
FTSE 250 (MCX) 19,535.67 0.05%
techMARK (TASX) 3,593.79 -0.05%

FTSE 100 - Risers

Bunzl (BNZL) 2,387.00p 3.38%
International Consolidated Airlines Group SA (CDI) (IAG) 625.50p 3.13%
Barratt Developments (BDEV) 575.50p 2.13%
BT Group (BT.A) 293.95p 1.89%
Next (NXT) 4,025.00p 1.77%
Mediclinic International (MDC) 755.00p 1.68%
Tesco (TSCO) 171.80p 1.66%
Sainsbury (J) (SBRY) 258.30p 1.65%
easyJet (EZJ) 1,352.00p 1.58%
Marks & Spencer Group (MKS) 341.90p 1.57%

FTSE 100 - Fallers

Hargreaves Lansdown (HL.) 1,303.00p -2.54%
Burberry Group (BRBY) 1,735.00p -1.76%
Smurfit Kappa Group (SKG) 2,315.00p -1.74%
Shire Plc (SHP) 4,470.50p -1.10%
SEGRO (SGRO) 490.40p -1.03%
Rentokil Initial (RTO) 279.00p -1.03%
Micro Focus International (MCRO) 2,396.00p -0.99%
DCC (DCC) 7,000.00p -0.99%
Convatec Group (CTEC) 327.10p -0.97%
Ashtead Group (AHT) 1,562.00p -0.83%