FTSE 100 movers: Next cuts a dash in dull market
Clothes retailer Next led the FTSE 100 risers despite reporting underlying pre-tax profits fell 3.8% to £790.2m last year and warned 2017 will be "another tough year" due to a shift away from spending on clothing and a squeeze on UK wages.
Tesco was lifted by an upgrade to ‘buy’ at Deutsche Bank, but rival Sainsbury fell after analysts cut the stock to ‘hold’.
Marks & Spencer followed on the coat tails of Next, with a solid rise from the shares.
London analysts at Berenberg bank downgraded Standard Chartered to a ‘hold’ rating based on the ongoing restructuring programme at the bank, as well as concerns about the need to restart its capital return.
StanChart’s target price was also cut from 750p to 725p, reflecting the costs of restructuring.
Market Movers
FTSE 100 (UKX) 7,321.30 -0.05%
FTSE 250 (MCX) 18,928.54 0.51%
techMARK (TASX) 3,446.63 0.48%
FTSE 100 - Risers
Next (NXT) 4,154.00p 6.92%
Marks & Spencer Group (MKS) 332.80p 2.43%
Ashtead Group (AHT) 1,641.00p 2.05%
easyJet (EZJ) 1,005.00p 2.03%
Royal Bank of Scotland Group (RBS) 239.00p 1.70%
Sage Group (SGE) 625.00p 1.54%
CRH (CRH) 2,835.00p 1.47%
AstraZeneca (AZN) 4,921.00p 1.41%
TUI AG Reg Shs (DI) (TUI) 1,108.00p 1.37%
St James's Place (STJ) 1,055.00p 1.34%
FTSE 100 - Fallers
Hikma Pharmaceuticals (HIK) 2,019.00p -2.56%
Randgold Resources Ltd. (RRS) 7,140.00p -2.12%
Kingfisher (KGF) 321.10p -2.10%
Pearson (PSON) 635.00p -1.63%
Smurfit Kappa Group (SKG) 2,150.00p -1.15%
Reckitt Benckiser Group (RB.) 7,349.00p -1.09%
Rio Tinto (RIO) 3,277.00p -0.98%
Scottish Mortgage Inv Trust (SMT) 357.00p -0.94%
BHP Billiton (BLT) 1,260.00p -0.90%
Fresnillo (FRES) 1,554.00p -0.89%