FTSE 100 movers: Tesco surges, Unilever slumps after Great Marmite Stand-Off

Tesco was a top riser on the FTSE 100 after Unilever said issues surrounding the supply of its leading brands including Marmite to the supermarket have been resolved.

The two companies were at loggerheads after Unilever said it wanted to raise its prices by about 10% to compensate for the plunge in the value of the pound.

“In terms of drama this morning has been relatively disappointing; though, to be fair, nothing could compare to the highs and lows of the Brexit’s epoch-defining moment – Marmite-gate,” said Connor Campbell, financial analyst at Spreadex.

“The swift resolution of Tesco and Unilever’s price disagreement has seen the former jump to the top of the FTSE 100’s best performers list this Friday, the supermarket surging by more than 4%.

“Unilever, on the other hand, has shed another 0.7%, investors now focusing on the lacklustre third quarter report that got lost in the fray yesterday.”

Capita was another top riser, despite being handed down a €1.15m fine by the Central Bank of Ireland for breaching “the most fundamental of regulatory requirements”.

The company offered unauthorised investment services to customers over a nine-year period, creating unnecessary market, investor and customer risks, the Central Bank said.

Provident Financial was suffering a slump too, after it confirmed its performance during the third quarter was in-line with management’s own expectations.

Credit quality at all three of its main units was described as "very sound", with the UK-focused lender confident of its ability to deliver "good" full-year results.

At its main unit, Vanquis Bank, customer numbers and receivables at the end of September were ahead by 7% and 13% year-on-year, respectively, versus 6.5% and 11.7% at June.

FTSE 100 - Risers

Tesco (TSCO) 204.10p 4.61%
Mediclinic International (MDC) 923.50p 4.29%
Barclays (BARC) 172.30p 3.48%
BHP Billiton (BLT) 1,221.00p 3.12%
Capita (CPI) 595.50p 3.03%
Informa (INF) 665.50p 2.78%
Anglo American (AAL) 1,016.50p 2.61%
Marks & Spencer Group (MKS) 327.50p 2.60%
Royal Bank of Scotland Group (RBS) 174.80p 2.58%
Pearson (PSON) 835.00p 2.58%

FTSE 100 - Fallers

Antofagasta (ANTO) 525.50p -2.59%
Fresnillo (FRES) 1,634.00p -1.92%
Ashtead Group (AHT) 1,322.00p -1.86%
Randgold Resources Ltd. (RRS) 6,905.00p -1.78%
Polymetal International (POLY) 848.50p -1.68%
Persimmon (PSN) 1,703.00p -1.16%
Provident Financial (PFG) 3,045.00p -1.10%
Unilever (ULVR) 3,560.00p -1.01%
Taylor Wimpey (TW.) 145.10p -0.75%
DCC (DCC) 6,975.00p -0.57%