FTSE 100 movers: AB Foods continues to feel impact of lower sugar prices, FX
Food, ingredients and retail group Associated British Foods was a big faller despite reiterating its guidance for profit growth in the year to 13 September despite the continued impact of lower sugar prices and currency movements. AB Foods said that strong profit performances from the Primark and grocery divisions and an improvement in ingredients are expected to offset the adverse effect of lower sugar prices and the £50m impact from the recent strength in sterling.
Abrdn
156.60p
16:44 14/05/24
ARM Holdings
1,700.00p
17:09 02/09/16
Associated British Foods
2,719.00p
16:54 14/05/24
Babcock International Group
519.50p
16:43 14/05/24
Glencore
492.50p
17:15 14/05/24
NATWEST GROUP
323.60p
17:15 14/05/24
Standard Life was hit by reports a YouGov survey found that 51% were in the 'yes' camp ahead of the 18 September vote - a sharp turnaround from recent polls. Last month, the company highlighted "material issues" and "uncertainty" for its customers and stakeholders arising from the upcoming referendum. Babcock was also affected by the news.
RBS was also falling heavily after Credit Suisse listed it as one of its "key underperforms" in the European banking sector. HSBC and Standard Chartered were also rated 'underperform'.
Meanwhile, ARM Holdings was higher ahead of the launch of partner Apple's iPhone 6.
Exane BNP Paribas gave Glencore Xstrata a boost after it reiterated its 'outperform' rating and increased its price target for the mining group from 410p to 460p.
FTSE 100 - Risers
ARM Holdings (ARM) 970.00p +1.41%
Shire Plc (SHP) 5,095.00p +1.39%
Mondi (MNDI) 1,058.00p +1.24%
Burberry Group (BRBY) 1,507.00p +1.01%
Tesco (TSCO) 230.60p +0.92%
Glencore (GLEN) 369.35p +0.64%
CRH (CRH) 1,474.00p +0.41%
London Stock Exchange Group (LSE) 2,048.00p +0.39%
Rexam (REX) 498.50p +0.32%
Coca-Cola HBC AG (CDI) (CCH) 1,419.00p +0.21%
FTSE 100 - Fallers
Associated British Foods (ABF) 2,769.00p -4.81%
Standard Life (SL.) 402.70p -3.31%
Babcock International Group (BAB) 1,074.00p -2.98%
Lloyds Banking Group (LLOY) 71.83p -2.93%
SSE (SSE) 1,472.00p -2.58%
Hargreaves Lansdown (HL.) 1,035.00p -2.45%
Royal Bank of Scotland Group (RBS) 340.00p -2.02%
3i Group (III) 377.00p -1.98%
Persimmon (PSN) 1,309.00p -1.95%
Old Mutual (OML) 201.20p -1.81%