FTSE 100 movers: Ocado bounces back; BT slumps

London’s FTSE 100 was up 0.6% at 7,570.51 in afternoon trade on Thursday.

Ocado surged to the top of the index, having tumbled a day earlier after Ocado Retail - its 50:50 joint venture with Marks & Spencer - cut its annual sales target.

Intermediate Capital was a high riser after it said total full-year assets under management jumped 26% in what it called a "defining" year.

United Utilities fell as it posted a drop in full-year underlying pre-tax profit and pledged not to increase average household bills for 2022/23 despite rapidly rising inflation.

BT slumped as it emerged the government will examine French billionaire Patrick Drahi's stake 18% stake in the telecoms company amid concerns about national security.

SSE was also under the cosh after Chancellor Rishi Sunak announced a £5bn windfall tax on energy firms.

Intertek and Sage were weaker as they traded without entitlement to the dividend.

FTSE 100 - Risers

Ocado Group (OCDO) 853.00p 10.84%
B&M European Value Retail S.A. (DI) (BME) 453.80p 6.73%
Next (NXT) 6,522.00p 6.43%
Intermediate Capital Group (ICP) 1,547.00p 6.07%
Associated British Foods (ABF) 1,714.00p 3.85%
Royal Mail (RMG) 324.90p 3.57%
Burberry Group (BRBY) 1,618.00p 3.12%
Hargreaves Lansdown (HL.) 848.40p 2.66%
Rolls-Royce Holdings (RR.) 85.64p 2.54%
Persimmon (PSN) 2,215.00p 2.50%

FTSE 100 - Fallers

United Utilities Group (UU.) 1,055.00p -5.17%
SSE (SSE) 1,801.50p -3.53%
Imperial Brands (IMB) 1,786.50p -2.99%
Severn Trent (SVT) 2,981.00p -2.93%
BT Group (BT.A) 184.65p -2.76%
Intertek Group (ITRK) 4,557.00p -2.67%
National Grid (NG.) 1,196.00p -2.53%
DCC (CDI) (DCC) 5,568.00p -2.49%
Sage Group (SGE) 656.20p -1.47%
Pershing Square Holdings Ltd NPV (PSH) 2,450.00p -1.41%