FTSE 100 movers: Vodafone impresses; easyJet still in doldrums

Vodafone shares topped the FTSE risers after its first-quarter revenue beat analysts’ expectations.

In corporate news, Home Retail Group gained ground after the Competition and Markets Authority cleared Sainsbury’s acquisition of the Argos owner.

Building materials group CRH rallied after lifting its earnings estimate as a result of exceptional trading in the second quarter.

EasyJet fell as Investec downgraded the stock to ‘hold’ from ‘buy’ as it cut the price target to 1,100p from 2,050p to reflect the revised outlook following the airline’s third-quarter update on Thursday.

The brokerage said third quarter trading was broadly in line with post-Brexit expectations. However, the fourth-quarter yield outlook is highly uncertain, with yields achieved for Q4 post-Brexit down around.12%, compared to those before Brexit down around 5%.

Sports Direct was under the cosh after a report by the Business, Innovation and Skills committee compared working conditions at the company to a "Victorian workhouse" and said founder Mike Ashley must be held accountable.

Marks & Spencer was in the red after Barclays downgraded the stock to ‘underweight’ from ‘equalweight’.

Market Movers

FTSE 100 (UKX) 6,722.75 0.34%

FTSE 100 - Risers

Vodafone Group (VOD) 235.15p 4.46%
CRH (CRH) 2,270.00p 3.42%
Hikma Pharmaceuticals (HIK) 2,579.00p 2.26%
AstraZeneca (AZN) 4,599.50p 1.68%
GlaxoSmithKline (GSK) 1,661.00p 1.40%
Centrica (CNA) 241.30p 1.39%
Morrison (Wm) Supermarkets (MRW) 180.10p 1.12%
Glencore (GLEN) 184.95p 1.09%
Old Mutual (OML) 205.60p 1.08%
Sky (SKY) 875.50p 0.98%

FTSE 100 - Fallers

Berkeley Group Holdings (The) (BKG) 2,608.00p -3.30%
Marks & Spencer Group (MKS) 318.90p -2.92%
Travis Perkins (TPK) 1,506.00p -2.90%
easyJet (EZJ) 1,039.00p -2.62%
Lloyds Banking Group (LLOY) 54.79p -2.51%
Persimmon (PSN) 1,594.00p -2.39%
Taylor Wimpey (TW.) 147.10p -2.32%
Barratt Developments (BDEV) 414.00p -1.78%
Royal Mail (RMG) 500.50p -1.67%
Kingfisher (KGF) 327.10p -1.54%