FTSE 100 movers: Rolls-Royce surges on new management, Tesco hit by worst losses in 97 years
Engine maker Rolls-Royce topped the risers after chief executive John Rishton announced plans to retire this summer. He will be succeeded by former ARM Holdings boss Warren East.
Aerospace and Defence
10,882.08
17:09 24/04/24
Banks
3,996.57
17:09 24/04/24
BT Group
105.25p
16:40 24/04/24
Financial Services
13,858.08
17:09 24/04/24
Fixed Line Telecommunications
1,823.41
17:09 24/04/24
Food & Drug Retailers
3,798.88
17:09 24/04/24
FTSE 100
8,040.38
16:34 24/04/24
FTSE 350
4,419.71
17:09 24/04/24
FTSE All-Share
4,374.06
16:44 24/04/24
Hargreaves Lansdown
747.80p
16:40 24/04/24
Rolls-Royce Holdings
417.00p
17:15 24/04/24
Standard Chartered
679.20p
16:35 24/04/24
Support Services
10,566.99
17:09 24/04/24
Tesco
291.40p
16:40 24/04/24
Travis Perkins
712.50p
16:35 24/04/24
UK timber and builders merchant Travis Perkins also gained after saying group sales were up 7.2% in the first quarter despite strong comparators with last year.
Tesco dipped after early morning gains as the market began to digest the grocer's worst annual loss in its 97-year history, with the stock dipping by midday. Chief executive Dave Lewis said that the market was "still challenging" though the supermarket did see like-for-like sales trends improving in the fourth quarter.
Hargreaves Lansdown was in the red after being downgraded to 'hold' by analysts at Jefferies.
Standard Chartered was also trading lower after Credit Suisse lowered its target price from 880p to 850p and kept an 'underperform' rating on the stock, saying the company is "prioritising building capital by holding back growth, but we think that gives up future earnings".
In contrast, BT Group was dialling the right numbers with investors after Nomura lifted its target price on the stock from 520p to 550p and kept a 'buy' rating, applauding its recent purchase of mobile network EE.
Risers
Rolls-Royce Holdings (RR.) 1,041.00p +3.38%
Travis Perkins (TPK) 2,070.00p +2.53%
Hikma Pharmaceuticals (HIK) 2,136.00p +1.86%
Associated British Foods (ABF) 2,740.00p +1.03%
Rio Tinto (RIO) 2,833.00p +0.75%
Capita (CPI) 1,123.00p +0.63%
Aggreko (AGK) 1,670.00p +0.60%
BT Group (BT.A) 459.10p +0.49%
Sage Group (SGE) 480.90p +0.46%
BHP Billiton (BLT) 1,469.50p +0.44%
Fallers
Tesco (TSCO) 222.95p -5.03%
Hargreaves Lansdown (HL.) 1,183.00p -4.13%
Sainsbury (J) (SBRY) 262.30p -3.99%
Morrison (Wm) Supermarkets (MRW) 191.30p -3.63%
Sports Direct International (SPD) 632.50p -3.14%
Ashtead Group (AHT) 1,131.00p -2.75%
Babcock International Group (BAB) 1,012.00p -2.69%
Mondi (MNDI) 1,344.00p -2.18%
Standard Chartered (STAN) 1,042.00p -2.16%
GlaxoSmithKline (GSK) 1,541.50p -2.13%