FTSE 100 movers: M&S boosted by Barclays note; Reckitt drops on results

Michele Maatouk Sharecast | 21 Apr, 2017 14:53 | | |

London Stock Exchange AIM LSE shares

London's FTSE 100 was flat at 7,117.67 in afternoon trade as investors digested disappointing UK retail sales data.

Retailer Marks & Spencer got a boost as Barclays initiated coverage of the stock at ‘overweight' with a 410p price target, which implies 14% potential upside.

The bank acknowledged that like the rest of the UK general retail sector, M&S currently faces some significant headwinds given weakening consumer sentiment and FX pressures on input prices, especially in the demand-elastic Clothing & Home segment.

However, it highlighted the fact that M&S Food has a good track record over many years, noting that the company is becoming increasingly food-focused over time.

In addition, Barclays said it sees plenty of opportunity to add more stores, 200 in the next two years on a base of around 600.

Equipment rental firm Ashtead was clawing back some ground, having fallen sharply in the previous session after results from US peer United Rentals showed rental rates were under pressure in the first quarter.

Aviva pushed higher after buying VietinBank's entire 50% shareholding in its life insurance joint venture VietinBank Aviva Life Insurance Limited and signing a new distribution agreement with VietinBank to sell life and health insurance products through its network of more than 1,100 branches.

Mondi and Smurfit Kappa recovered after declining on Thursday as their stock went ex-dividend.

On the downside, Rentokil fell despite announcing that its Rentokil Pest Control business has been awarded The Queen's Award for Enterprise for International Trade, recognising the business's outstanding achievement in global trade.

Consumer goods group Reckitt Benckiser was on the back foot after it reported flat sales for the first quarter.

Market Movers

FTSE 100 (UKX) 7,129.14 0.15%
FTSE 250 (MCX) 19,377.38 -0.01%
techMARK (TASX) 3,416.94 -0.00%

FTSE 100 - Risers

Babcock International Group (BAB) 901.00p 2.39%
Marks & Spencer Group (MKS) 359.50p 1.64%
Rio Tinto (RIO) 3,114.00p 1.50%
Convatec Group (CTEC) 294.60p 1.41%
Antofagasta (ANTO) 837.50p 1.39%
Ashtead Group (AHT) 1,601.00p 1.33%
Aviva (AV.) 513.00p 1.28%
Mondi (MNDI) 1,960.00p 1.24%
CRH (CRH) 2,705.00p 1.08%
Smurfit Kappa Group (SKG) 1,983.00p 1.07%

FTSE 100 - Fallers

Micro Focus International (MCRO) 2,462.00p -1.44%
Hikma Pharmaceuticals (HIK) 1,822.00p -1.25%
Rentokil Initial (RTO) 239.40p -1.24%
Johnson Matthey (JMAT) 2,867.00p -1.17%
Reckitt Benckiser Group (RB.) 7,190.00p -1.17%
Mediclinic International (MDC) 721.00p -1.10%
Burberry Group (BRBY) 1,575.00p -1.07%
Smiths Group (SMIN) 1,577.00p -0.88%
Kingfisher (KGF) 326.60p -0.79%
Severn Trent (SVT) 2,323.00p -0.73%

More news

21 Aug US close: Markets mixed on light trading Monday

Wall Street finished mixed amid light volumes on Monday, as investors kept their wallets closed as both international tensions and domestic political turbulence put a dampener on sentiment.

21 Aug Europe close: Stocks down on euro gains, geopolitical angst

Stocks finished the day lower amid aggressive rhetoric out of North Korea as the US and South Korean militaries kicked-off their annual 10-day joint exercises and a bounce in the single currency's value.

21 Aug London close: Stocks flat ahead of Jackson Hole amid geopolitical nerves

London stocks ended on a mixed note at the start of the week as investors remained cautious amid geopolitical tensions.

21 Aug US open: Stocks flat ahead of Trump speech on Afghanistan

Wall Street was trading in mixed fashion ahead of a speech from the US president on Monday evening in which he was expected to outline his new strategy for the war in Afghanistan.

21 Aug Tuesday preview: Public deficit due, results from Persimmon, BHP, Cairn

The UK's public deficit gets its monthly update on Tuesday, along with the CBI's industrial trends survey and results from the likes of BHP Billiton, Cairn Energy, Persimmon and Wood Group.

21 Aug Luca Provolo appointed head of sales at Directa Plus

Graphene--based products producer and supplier Directa Plus announced the appointment of Luca Provolo as its head of sales on Monday, with effect from 4 September.

21 Aug Verditek subsidiary wins trial contract with Italian ad agency

Clean technology company Verditek announced on Monday that its 51% owned subsidiary Greenflex Energy - an Italian based manufacturing solar photovoltaic technology company - has won an initial trial contract with Media One - one of Italy's largest out of home advertising agencies - to supply and install its proprietary solar PV technology to power digital advertising billboards at outdoor bus shelters in Italy.

21 Aug FTSE 250 movers: Hikma boosted by upgrade, TBC higher on results

London's FTSE 250 was up 0.1% to 19,636.29 in afternoon trade.

21 Aug ITM Power welcomes launch of government hydrogen programme

Energy storage and clean fuel company ITM Power noted the launch of the UK Government's ‘Hydrogen for Transport Programme’ on Monday.

21 Aug Gfinity appointed esports partner to Formula 1

International esports group Gfinity announced on Monday that it has been appointed as esports partner for Formula 1, to deliver the Formula 1 ESports Series from September.