FTSE 100 movers: Segro rallies; Kingfisher tumbles after results
London’s FTSE 100 was up 0.4% at 8,668.18 in afternoon trade on Tuesday.
Segro rallied as it announced a joint venture with Pure Data Centres - owned by Oaktree - to create its first fully fitted data centre, which it expects to pre-lease to a hyperscaler.
The 50:50 joint venture with Pure DC, Segro Pure Premier Park Data Centre Limited, has been created with the intent to develop and deliver a £1bn fully fitted data centre in Park Royal, West London.
The JV brings together a 10-acre super-prime industrial site owned by Segro and 70MVA of power secured by Pure DC.
Shell gushed higher as the energy giant said it was targeting 4% to 5% annual sales growth in liquefied natural gas in the next five years and increased its shareholder distribution policy with a focus on share buybacks, while cutting its spending outlook.
Smiths Group was also in the black as it backed its full-year outlook and hailed a strong half-year performance.
Kingfisher tumbled after the DIY retail group forecast small earnings growth this year at best and warned of the impact of budgetary measures in the UK and France on consumer sentiment and costs in the short term.
The company, which owns B&Q and Screwfix in the UK along with Brico Depot and Castorama in France, posted a 7% fall in adjusted pre-tax profit to £528m and announced a £300m share buyback.
It expects expected adjusted earnings of £480m to £540m for the 2025/26 fiscal year.
FTSE 100 - Risers
Antofagasta (ANTO) 1,932.00p 3.48%
SEGRO (SGRO) 714.40p 3.39%
Anglo American (AAL) 2,382.00p 3.32%
International Consolidated Airlines Group SA (CDI) (IAG) 297.20p 3.19%
Weir Group (WEIR) 2,450.00p 2.68%
Shell (SHEL) 2,797.00p 2.64%
Fresnillo (FRES) 947.00p 2.10%
Pearson (PSON) 1,218.00p 2.05%
Informa (INF) 800.80p 2.01%
Smiths Group (SMIN) 2,034.00p 1.85%
FTSE 100 - Fallers
Kingfisher (KGF) 240.00p -14.19%
Flutter Entertainment (DI) (FLTR) 18,880.00p -1.46%
Land Securities Group (LAND) 550.50p -1.43%
Marks & Spencer Group (MKS) 329.80p -1.11%
Associated British Foods (ABF) 1,905.00p -1.07%
CRH (CDI) (CRH) 7,514.00p -0.63%
Diageo (DGE) 2,039.00p -0.61%
BT Group (BT.A) 163.15p -0.55%
Admiral Group (ADM) 2,909.00p -0.55%
London Stock Exchange Group (LSEG) 11,160.00p -0.53%