FTSE 100 movers: Next rallies on guidance upgrade; Croda hit

Next was the standout gainer on the index after the retailer boosted its full-year guidance as third-quarter trading beat internal expectations. The fashion retailer said full-price sales in the three months to 28 October rose 4% year-on-year, £23m ahead of earlier guidance for 2% growth.

Next increased its full-year guidance for pre-tax profits by £10m, to £885m. It also upped its forecast for full-year sales, which are now expected to be 3.1% stronger at £4.74bn on the assumption full-price sales remain 2% higher for the rest of the year. Next previously forecast full-year sales growth of 2.6%.

Marks & Spencer also gained.

GSK was under the cosh despite lifting its full-year profit outlook. It now expects turnover to increase by 12% to 13%, up from previous guidance of 8% to 10%, and adjusted operating profit growth of 13% to 15%, up from 11% to 13%. Adjusted earnings per share are set to grow between 17% and 20%, versus previous guidance of 14% to 17%.

Chemicals company Croda International also lost ground after US cosmetics brand Estee Lauder - which it supplies - cut its full-year forecasts, pointing in part to a slower-than-expected recovery in China.

FTSE 100 - Risers

Next (NXT) 7,164.00p 4.07%
Melrose Industries (MRO) 485.60p 3.98%
Airtel Africa (AAF) 117.50p 3.71%
Marks & Spencer Group (MKS) 224.10p 3.37%
Centrica (CNA) 162.40p 3.24%
Unite Group (UTG) 888.00p 2.25%
InterContinental Hotels Group (IHG) 5,940.00p 2.24%
3i Group (III) 1,977.50p 2.22%
CRH (CDI) (CRH) 4,519.00p 2.22%
Associated British Foods (ABF) 2,069.00p 2.12%

FTSE 100 - Fallers

Croda International (CRDA) 4,274.00p -2.38%
IMI (IMI) 1,436.00p -1.98%
Endeavour Mining (EDV) 1,667.00p -1.94%
JD Sports Fashion (JD.) 125.05p -1.92%
GSK (GSK) 1,429.80p -1.89%
Intertek Group (ITRK) 3,773.00p -1.31%
Standard Chartered (STAN) 622.00p -1.27%
Barclays (BARC) 130.38p -0.93%
Taylor Wimpey (TW.) 109.80p -0.90%
Rightmove (RMV) 469.60p -0.72%