FTSE 100 movers: Burberry rallies amid bid speculation
Burberry Group’s shares rallied amid speculation the luxury fashion house could attract the attention of a US rival or cash-rich private equity groups.
Abrdn
155.20p
16:40 03/05/24
Burberry Group
1,180.00p
16:45 03/05/24
Construction & Materials
10,131.33
16:54 03/05/24
CRH (CDI)
6,412.00p
16:49 03/05/24
FTSE 100
8,213.49
16:59 03/05/24
FTSE 350
4,515.50
16:54 03/05/24
FTSE All-Share
4,469.09
17:14 03/05/24
Household Goods & Home Construction
13,389.34
16:54 03/05/24
Life Insurance
5,897.35
16:54 03/05/24
Persimmon
1,366.50p
16:40 03/05/24
Personal Goods
16,402.06
16:54 03/05/24
The reported market chatter from UK newspaper the Daily Mail came before Burberry posts its 2015 sales figures next Wednesday.
Earlier on Thursday, US investment bank JPMorgan raised its target price on Burberry to 1,560p from 1,470p citing the boost to earnings from a weaker euro.
Buildings materials business CRH and homebuilder Persimmon gained after a report from Halifax showed house prices rose in March due to real earnings growth. House prices rose by 0.4% during the last quarter, beating expectations of a 0.2% growth. However, year-on-year, the prices only grew by 8.1%, compared with 8.3% the month before. According to the Halifax Housing Market Confidence Tracker, optimism rebounded in February thanks to a continued fall in inflation and the expectation of an interest rate rise receded further.
In contrast, Standard Life slumped after reporting a sharp rise in customer inquiries following the introduction of pension reforms that may mean many retirees cash in their savings. Under new rules, which take effect on 6 April, anyone aged 55 and over in a defined contribution pension scheme can take their savings as a cash lump sum.
FTSE 100 - Risers
Aberdeen Asset Management (ADN) 481.80p +3.55%
CRH (CRH) 1,805.00p +3.03%
Burberry Group (BRBY) 1,793.00p +2.87%
Persimmon (PSN) 1,728.00p +2.86%
Mondi (MNDI) 1,397.00p +2.72%
Pearson (PSON) 1,468.00p +2.59%
HSBC Holdings (HSBA) 601.60p +2.49%
Compass Group (CPG) 1,205.00p +2.29%
Sports Direct International (SPD) 641.00p +2.15%
InterContinental Hotels Group (IHG) 2,730.00p +2.09%
FTSE 100 - Fallers
Aggreko (AGK) 1,546.00p -3.07%
Standard Life (SL.) 471.50p -2.26%
Ashtead Group (AHT) 1,055.00p -0.85%
Intertek Group (ITRK) 2,580.00p -0.77%
Next (NXT) 7,040.00p -0.56%
Shire Plc (SHP) 5,455.00p -0.55%
BHP Billiton (BLT) 1,462.00p -0.48%
Weir Group (WEIR) 1,760.00p -0.28%
Lloyds Banking Group (LLOY) 79.53p -0.19%
Royal Bank of Scotland Group (RBS) 348.10p -0.17%