FTSE 100 movers: Sage surges on results; Vistry in the red

London’s FTSE 100 was down 0.1% at 8,088.58 in afternoon trade on Wednesday.

Sage Group surged to the top of the index as it posted a 21% rise in full-year underlying operating profit to £529m and announced a share buyback of up to £400m.

Underlying total revenue rose 9% to £2.3bn, which Sage said reflected the strength of its subscription-based recurring revenue model.

Chief executive Steve Hare said: "Sage has delivered another successful year, achieving strong, broad-based revenue growth together with significantly higher profits and cash flows."

Severn Trent advanced as it reported a double-digit increase in first-half profits and said it expects capital investment to hit the top end of guidance this year, putting it in a strong position for the next five-year regulatory cycle, AMP8.

United Utilities was boosted by an upgrade to ‘buy’ at Deutsche Bank.

Vistry slid as it said chief operating officer Earl Sibley is to leave the housebuilder after his role was axed.

EasyJet was also in the red after a downgrade to ‘hold’ at HSBC.

FTSE 100 - Risers

Sage Group (SGE) 1,265.00p 17.24%
Severn Trent (SVT) 2,757.00p 2.53%
Anglo American (AAL) 2,348.00p 1.89%
Prudential (PRU) 635.80p 1.76%
London Stock Exchange Group (LSEG) 10,885.00p 1.44%
Rio Tinto (RIO) 4,936.00p 1.44%
Imperial Brands (IMB) 2,508.00p 1.33%
Beazley (BEZ) 754.00p 1.14%
Hikma Pharmaceuticals (HIK) 1,839.00p 1.10%
United Utilities Group (UU.) 1,107.50p 1.00%

FTSE 100 - Fallers

Vistry Group (VTY) 618.00p -7.83%
Admiral Group (ADM) 2,383.00p -4.83%
Persimmon (PSN) 1,229.50p -3.91%
JD Sports Fashion (JD.) 112.95p -3.30%
easyJet (EZJ) 509.20p -3.23%
Convatec Group (CTEC) 235.40p -3.13%
Marks & Spencer Group (MKS) 360.90p -2.98%
B&M European Value Retail S.A. (DI) (BME) 336.00p -2.89%
Barratt Redrow (BTRW) 396.30p -2.84%
Rolls-Royce Holdings (RR.) 524.20p -2.78%