FTSE 100 movers: StanChart gains on buyback; Beazley bounces again

London’s FTSE 100 was up 0.3% at 7,708.26 in afternoon trade on Friday.

Asia-focused bank Standard Chartered surged as it unveiled a new $1bn buyback, increased dividend and higher annual profits, but reined in guidance on income for the current year.

The bank reported an 18% rise in pre-tax profit to $5.1bn and lifted its full-year dividend 50% to 27 cents a share, well above estimates of 23.7 cents.

However, it also forecast income growth at the upper end of 5-7% this year, down from the previous estimate of 8-10% given last October. The lender reported a 13% rise in income in 2023 on a constant currency basis.

Beazley was in the black again, having rallied a day earlier as it upgraded its guidance on 2023 undiscounted combined ratio from low-80s to mid-70s thanks to a better-than-expected claims experience during the year.

It also said that as well as an ordinary dividend, shareholders will receive an additional capital return for the year of around $300m.

FTSE 100 - Risers

Standard Chartered (STAN) 656.40p 8.39%
JD Sports Fashion (JD.) 115.50p 1.81%
Kingfisher (KGF) 229.70p 1.59%
HSBC Holdings (HSBA) 598.00p 1.27%
Anglo American (AAL) 1,790.80p 1.19%
InterContinental Hotels Group (IHG) 8,696.00p 1.12%
B&M European Value Retail S.A. (DI) (BME) 534.60p 1.06%
NATWEST GROUP (NWG) 230.50p 1.05%
Beazley (BEZ) 640.50p 1.03%
London Stock Exchange Group (LSEG) 8,924.00p 0.90%

FTSE 100 - Fallers

St James's Place (STJ) 644.80p -2.69%
Vodafone Group (VOD) 64.24p -2.28%
Centrica (CNA) 125.95p -2.06%
BT Group (BT.A) 105.35p -1.95%
M&G (MNG) 222.60p -1.68%
Admiral Group (ADM) 2,530.00p -1.52%
Smith (DS) (SMDS) 319.60p -1.51%
Prudential (PRU) 810.80p -1.43%
Glencore (GLEN) 374.85p -1.33%
Whitbread (WTB) 3,499.00p -1.21