FTSE 100 movers: Wolseley jumps but Randgold loses its shine
London's FTSE 100 was up 0.1% to 7,302.51 in afternoon trade as investors looked ahead to Wednesday, when PM Theresa May will officially kick off divorce proceedings with the EU.
Plumbing and heating supplier Wolseley was the standout gainer as it unveiled a name change and plans to withdraw from the Nordics, along with a drop in half-year pre-tax profit and a 10% dividend hike.
The group said it would now be called Ferguson, in recognition of the US division that now pulls in 84% of group trading profit - a move that was welcomed by investors.
Insurer Aviva gained ground following news that it is looking to sell Friends Provident International in a deal that could fetch up to $750m.
The Wall Street Journal cited people familiar with the matter as saying that Aviva has received several pre-emptive offers for the unit, which serves high net worth individuals in Asia and the Middle East, although a formal bidding process hasn't started.
Chinese conglomerates Fosun Group and HNA Group were said to be among those evaluating the unit.
Randgold Resources was on the back foot after confirming its intention to increase its final dividend for the last full year and saying that while the size of its remaining gold resources had shrunk there had been an increase in the reserve grade.
The gold miner proposed a 52% year on year increase in the dividend to $1 per share for the year ended 31 December 2016 for approval at its annual general meeting on 2 May 2017.
Risers
Wolseley (WOS) 5,140.00p 5.26%
Pearson (PSON) 656.00p 3.63%
Standard Chartered (STAN) 739.20p 2.24%
Smurfit Kappa Group (SKG) 2,111.00p 1.49%
Convatec Group (CTEC) 268.50p 1.32%
Johnson Matthey (JMAT) 2,979.00p 1.26%
Aviva (AV.) 529.50p 1.24%
Scottish Mortgage Inv Trust (SMT) 360.10p 1.12%
Mediclinic International (MDC) 773.50p 1.11%
Rio Tinto (RIO) 3,166.50p 1.10%
Fallers
easyJet (EZJ) 998.00p -1.38%
Old Mutual (OML) 215.30p -1.24%
Lloyds Banking Group (LLOY) 66.14p -1.21%
Taylor Wimpey (TW.) 190.50p -1.14%
Experian (EXPN) 1,614.00p -1.10%
BT Group (BT.A) 321.45p -1.08%
Randgold Resources Ltd. (RRS) 7,105.00p -0.98%
Associated British Foods (ABF) 2,625.00p -0.94%
Morrison (Wm) Supermarkets (MRW) 234.60p -0.93%
Whitbread (WTB) 3,904.00p -0.86%