FTSE 100 movers: Mondi gains but Smith & Nephew slumps on update

London’s FTSE 100 was up 0.2% to 7,205.63 in afternoon trade as investors sifted through corporate news.

Paper and packaging company Mondi was the standout gainer, having announced earlier in the week that it had bought Excelsior Technologies Limited from funds managed by Endless LLP and certain other minority shareholders, for £33m on a debt and cash-free basis.

Pharmaceuticals giant GlaxoSmithKline was also in the black a day after hitting its full year earnings target, but saying growth in 2017 could be severely hampered by the looming prospect of generic competition to its key Advair respiratory drug.

Medical devices group Smith & Nephew retreated as it reported full year sales in line with forecasts and earnings that beat consensus despite declining sales in the fourth quarter.

On the downside, travel company TUI AG traded lower as peer Thomas Cook reported a narrowing of losses for the first quarter but sounded a cautious note on the outlook.

Risers

Mondi (MNDI) 1,800.00p 1.64%
Vodafone Group (VOD) 199.05p 1.61%
Land Securities Group (LAND) 1,042.00p 1.56%
AstraZeneca (AZN) 4,553.50p 1.54%
Mediclinic International (MDC) 817.00p 1.43%
GlaxoSmithKline (GSK) 1,583.00p 1.31%
BP (BP.) 461.45p 1.21%
National Grid (NG.) 968.80p 1.16%
Provident Financial (PFG) 2,749.00p 1.10%
British Land Company (BLND) 607.50p 1.08%

Fallers

Anglo American (AAL) 1,284.00p -3.53%
Smith & Nephew (SN.) 1,162.00p -3.25%
Smurfit Kappa Group (SKG) 2,101.00p -2.73%
Antofagasta (ANTO) 816.50p -2.39%
Glencore (GLEN) 305.10p -2.24%
Whitbread (WTB) 3,968.00p -1.95%
Taylor Wimpey (TW.) 172.90p -1.87%
Persimmon (PSN) 1,979.00p -1.84%
TUI AG Reg Shs (DI) (TUI) 1,168.00p -1.77%
GKN (GKN) 339.80p -1.36%