FTSE 100 movers: Smith & Nephew retreats; Ashtead shoots higher
London’s FTSE 100 was down 0.3% at 7,328.48 in afternoon trade on Thursday amid an avalanche of corporate news.
Medical technology group Smith & Nephew slid after it posted a drop in first-half pre-tax profit.
Russ Mould, investment director at AJ Bell, said: "Smith & Nephew struggled during the pandemic as elective surgeries were cancelled and demand for its hip and knee implants fell. As we emerge from the pandemic then in theory it should have a big backlog of business to get through, but supply chain and execution issues in its orthopaedics business are holding it back.
"Recently appointed CEO Deepak Nath really needs to sort these problems out fast so the company doesn’t miss out on a significant market opportunity."
Airtel Africa was also the red after first-quarter results, along with BT Group and British Gas owner Centrica.
Equipment rental firm Ashtead shot to the top of the index after US peer United Rentals lifted its full-year revenue guidance amid robust demand.
Pest control and hygiene services company Rentokil Initial rallied after it posted a rise in interim profit and revenue, with broad-based growth across its categories.
Smurfit Kappa was up after JPMorgan Cazenove lifted its price target on the shares, while Schroders pushed higher after the fund manager said assets under management ticked up 1% in the first half.
Miners advanced, with Anglo American also up despite reporting a 28% decline in first-half earnings.
FTSE 100 - Risers
Ashtead Group (AHT) 4,361.00p 5.21%
Rentokil Initial (RTO) 525.40p 4.49%
Smurfit Kappa Group (CDI) (SKG) 2,974.00p 4.35%
Schroders (SDR) 2,846.00p 4.25%
Antofagasta (ANTO) 1,123.00p 4.08%
Anglo American (AAL) 2,879.00p 3.75%
Fresnillo (FRES) 678.20p 3.48%
Spirax-Sarco Engineering (SPX) 11,510.00p 3.09%
Admiral Group (ADM) 1,858.00p 2.71%
Intermediate Capital Group (ICP) 1,451.50p 2.54%
FTSE 100 - Fallers
Smith & Nephew (SN.) 1,088.50p -9.63%
Airtel Africa (AAF) 155.70p -8.89%
BT Group (BT.A) 161.75p -8.15%
Aveva Group (AVV) 2,160.00p -7.30%
Barclays (BARC) 151.02p -4.21%
SSE (SSE) 1,726.00p -3.01%
Centrica (CNA) 88.38p -2.86%
British American Tobacco (BATS) 3,366.50p -2.39%
Standard Chartered (STAN) 573.00p -2.39%
Vodafone Group (VOD) 118.28p -2.26%
FTSE 250 - Risers
Hammerson (HMSO) 23.52p 8.74%
Discoverie Group (DSCV) 736.00p 7.60%
Weir Group (WEIR) 1,584.00p 6.49%
Hochschild Mining (HOC) 77.00p 6.35%
Genus (GNS) 2,768.00p 4.93%
Aston Martin Lagonda Global Holdings (AML) 480.80p 4.52%
Inchcape (INCH) 820.00p 4.33%
Ferrexpo (FXPO) 150.00p 4.02%
888 Holdings (DI) (888) 148.20p 3.85%
Ibstock (IBST) 202.60p 3.84%
FTSE 250 - Fallers
CMC Markets (CMCX) 241.50p -21.59%
Polymetal International (POLY) 193.70p -3.63%
Royal Mail (RMG) 277.90p -3.44%
Mitchells & Butlers (MAB) 169.90p -3.36%
NB Private Equity Partners Ltd. (NBPE) 1,575.00p -2.78%
The Global Smaller Companies Trust (GSCT) 141.00p -2.49%
Playtech (PTEC) 483.20p -2.23%
Vesuvius (VSVS) 337.20p -2.15%
SSP Group (SSPG) 254.40p -2.04%
Hipgnosis Songs Fund Limited NPV (SONG) 109.60p -1.62%