FTSE 100 movers: Tesco gains on Booker update; Worldpay tanks as bidding war hopes crushed
London's FTSE 100 was flat at 7,355.39 in afternoon trade as investors continued to mull over disappointing services data.
Tesco was the standout gainer after food wholesaler Booker - which Tesco is currently trying to buy - reported growth in like-for-like sales in the first quarter thanks to the late Easter and favourable weather.
Housebuilder Persimmon was also a higher riser after it put together an excellent foundation to its financial year, reporting resilient consumer confidence and strong momentum moving into the second half. The company expanded revenues 12% to £1.66bn as the volume of new homes sold grew 8% to 7,794 and it was able to hoist average selling prices 3.5% to £213,000. Peers Barratt Developments and Taylor Wimpey followed suit.
Miner BHP Billiton was on the front foot after being upgraded to 'outperform' at Bernstein.
Going the other way, shares in payments processor Worldpay tanked after JPMorgan Chase Bank quashed any hopes investors might have had of a bidding war by saying it does not intend to make an offer for the company.
Earlier, Worldpay confirmed that it has agreed to combine with US-based rival Vantiv Inc for 385p per share in cash and stock, in a deal valuing the company at £9.1bn. On Tuesday, Worldpay said that it had received bid approaches from both Vantiv and JPM.
Lloyds Banking Group was also weaker as it revealed a major restructure of the company’s board, with chief executive Antonio Horta-Osorio announcing a new three-year strategic plan for the bank.
Risers
Tesco (TSCO) 174.15p 4.22%
London Stock Exchange Group (LSE) 3,718.00p 3.13%
G4S (GFS) 336.00p 2.97%
Provident Financial (PFG) 2,387.00p 2.84%
Persimmon (PSN) 2,344.00p 2.31%
Barratt Developments (BDEV) 579.00p 2.21%
Rolls-Royce Holdings (RR.) 915.50p 2.06%
Glencore (GLEN) 309.00p 1.78%
Taylor Wimpey (TW.) 178.90p 1.76%
BHP Billiton (BLT) 1,248.50p 1.71%
Fallers
Worldpay Group (WPG) 369.20p -9.51%
Fresnillo (FRES) 1,444.00p -2.63%
Randgold Resources Ltd. (RRS) 6,720.00p -1.90%
Johnson Matthey (JMAT) 2,833.00p -1.63%
Lloyds Banking Group (LLOY) 65.53p -1.19%
Old Mutual (OML) 193.00p -1.13%
Centrica (CNA) 201.90p -0.98%
Royal Dutch Shell 'B' (RDSB) 2,081.00p -0.95%
Royal Mail (RMG) 419.00p -0.85%
Royal Dutch Shell 'A' (RDSA) 2,056.50p -0.80%