FTSE 100 movers: Sky jumps but retailers retreat on H&M sales
London’s FTSE 100 was up 0.3% to 7,469.23 in quiet afternoon trade on Friday.
Broadcaster Sky was among the top gainers after it and BT agreed a deal to sell their channels on each other’s platforms.
Under the agreement, Sky will receive wholesale supply of the BT Sport channels enabling it to offer its customers access to every single match of the Premier League, the UEFA Champions League and Europa League shown on Sky and BT channels through one simple Sky contract.
Sky was likely gaining on the back of Disney’s announcement a day earlier that it is acquiring the entertainment assets of 21st Century Fox, which include the UK broadcaster.
Miners BHP Billiton and Glencore were trading up after JPMorgan upgraded the stocks to ‘neutral’ and ‘overweight’, respectively.
Going the other way, retailers Next and Marks and Spencer were on the back foot as Sweden’s H&M slumped after posting a 4% decline in sales for the three months to the end of November, which missed analysts’ expectations.
Housebuilder Persimmon retreated as chairman Nicholas Wrigley is planning to retire following a dispute over an incentive scheme for executive pay. He will stay on as chairman to allow an orderly process while the board seeks a successor. Meanwhile, senior independent director and chairman of the Remuneration Committee, Jonathan Davie, resigned from the board on Thursday.
Risers
Fresnillo (FRES) 1,339.00p 2.61%
Sky (SKY) 1,012.00p 2.22%
TUI AG Reg Shs (DI) (TUI) 1,461.50p 1.99%
Mondi (MNDI) 1,810.00p 1.97%
Smurfit Kappa Group (SKG) 2,426.00p 1.93%
Antofagasta (ANTO) 931.00p 1.75%
BHP Billiton (BLT) 1,411.50p 1.69%
Glencore (GLEN) 363.20p 1.64%
DCC (DCC) 7,180.00p 1.48%
Rio Tinto (RIO) 3,613.50p 1.45%
Fallers
Next (NXT) 4,228.00p -2.69%
Mediclinic International (MDC) 605.00p -2.65%
NMC Health (NMC) 2,799.00p -2.41%
Marks & Spencer Group (MKS) 302.97p -2.05%
Pearson (PSON) 725.00p -1.76%
Ashtead Group (AHT) 1,892.00p -1.56%
Persimmon (PSN) 2,618.00p -1.28%
easyJet (EZJ) 1,409.50p -1.16%
Burberry Group (BRBY) 1,713.00p -1.04%
Barratt Developments (BDEV) 624.00p -0.95%