FTSE 100 movers: HSBC pleases but Next out of fashion

HSBC pushed higher and led the Footsie risers list after it said profits in the first quarter were hit by currency movements, but at the underlying level, they improved strongly against the same period last year and the fourth quarter of 2016.

Oil giant Royal Dutch Shell gushed higher as it said first-quarter profit more than doubled.

RSA Insurance was on the front foot as it posted a 14% increase in first-quarter net written premiums, while supermarket Morrisons advanced after saying sales in the first quarter rose thanks to price cuts and solid trading over Easter.

Next found itself out of fashion after trimming full year sales and profits guidance after sales fell in the first quarter of its financial year.

Full price sales for the 13 weeks to 29 April slipped 3.0%, worse than the market’s expectation of a 2% decline as retail sales tumbled 8.1% but Directory sales from the website and catalogue rose 3.3% in what management expect to be the weakest quarter of the year.

Randgold Resources spiked in early trade but was in the red by noon despite reporting a 33% jump in first-quarter profit and a rise in gold production, while fellow miners BHP Billiton and Antofagasta were weighed down as iron ore futures lost up to 7% and copper futures extended losses past 2% in the session.

Glencore was therefore in the red even as it raised its full year profits target slightly to between $2.3bn and $2.6bn, while Anglo American shares dropped as it agreed the sale of its 88% stake in the Drayton thermal coal mine in New South Wales.

Market Movers

FTSE 100 (UKX) 7,259.63 0.35%
FTSE 250 (MCX) 19,683.76 0.00%
techMARK (TASX) 3,529.38 0.10%

FTSE 100 - Risers

HSBC Holdings (HSBA) 667.80p 3.50%
International Consolidated Airlines Group SA (CDI) (IAG) 571.50p 2.88%
Burberry Group (BRBY) 1,622.00p 2.53%
Royal Dutch Shell 'B' (RDSB) 2,105.00p 2.16%
Royal Dutch Shell 'A' (RDSA) 2,058.00p 1.98%
Ashtead Group (AHT) 1,590.00p 1.86%
RSA Insurance Group (RSA) 615.00p 1.82%
3i Group (III) 817.00p 1.68%
TUI AG Reg Shs (DI) (TUI) 1,148.00p 1.50%
Hikma Pharmaceuticals (HIK) 1,967.00p 1.44%

FTSE 100 - Fallers

Next (NXT) 4,214.00p -4.44%
Anglo American (AAL) 1,009.00p -3.40%
Kingfisher (KGF) 331.20p -2.90%
BHP Billiton (BLT) 1,115.00p -2.71%
Antofagasta (ANTO) 769.00p -2.53%
Imperial Brands (IMB) 3,611.00p -2.44%
Marks & Spencer Group (MKS) 358.20p -2.26%
Paddy Power Betfair (PPB) 8,215.00p -2.14%
Glencore (GLEN) 281.30p -1.92%
Sainsbury (J) (SBRY) 258.70p -1.82%