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FTSE 100 movers: Imperial Brands rallies on update, but G4S slides

Tue, 7th Nov 2017 14:18


(ShareCast News) - London's FTSE 100 was down 0.2% to 7,547.86 in afternoon trade on Tuesday as investors digested the latest retail sales data and updates from Imperial Brands and G4S.

Imperial Brands was the standout gainer as it revealed that tobacco volumes fell less than expected this year and the cigarette maker once again lifted its annual dividend 10% as currency tailwinds were not enough to puff earnings above consensus forecasts.

As she continues to plan further investment as the company battles a volatile industry environment, chief executive Alison Cooper said the medium-term target was still to deliver "constant currency revenue and earnings per share growth", as well as further years of 10% dividend growth.

Peer British American Tobacco was on the back foot.

BP and Royal Dutch Shell gushed higher as oil tested new two-year highs amid renewed tensions between Saudi Arabia and Iran.

On the downside, security services firm G4S retreated after saying that trading in the nine months to the end of September was in line with expectations, but its guidance for full-year organic revenue growth was scaled back.

Primark owner Associated British Foods was in the red despite reporting full-year results ahead of market forecasts after a "highly successful" year, with analysts pointing out that the dividend was a touch light. In addition, comments about the adverse impact of weakened sterling on next year's first half margin also weighed.

Disappointing figures from the British Retail Consortium piled more pressure on the broader retail sector, after they showed retailers endured a "meagre month" of sales in October, with non-food retailers having the worst sales for at least six years.

Kingfisher and Next were also weaker.

Insurer Direct Line edged down after a mixed update for the first nine months of the year, in which it warned that the impairment charge in 2017 could exceed that incurred last year.

Risers

Imperial Brands (IMB) 3,125.00p 1.30%

BP (BP.) 527.80p 1.29%

Intertek Group (ITRK) 5,415.00p 1.03%

Hargreaves Lansdown (HL.) 1,592.00p 1.02%

Carnival (CCL) 5,025.00p 0.98%

Antofagasta (ANTO) 997.00p 0.81%

ITV (ITV) 158.70p 0.76%

Convatec Group (CTEC) 190.20p 0.69%

BHP Billiton (BLT) 1,474.00p 0.68%

Royal Dutch Shell 'A' (RDSA) 2,474.50p 0.67%

Fallers

G4S (GFS) 264.60p -5.36%

Associated British Foods (ABF) 3,220.00p -3.68%

Kingfisher (KGF) 307.60p -2.84%

WPP (WPP) 1,293.00p -1.97%

Direct Line Insurance Group (DLG) 360.00p -1.91%

Next (NXT) 4,346.00p -1.59%

AstraZeneca (AZN) 5,051.00p -1.56%

CRH (CRH) 2,721.00p -1.56%

British American Tobacco (BATS) 4,885.00p -1.49%

Barratt Developments (BDEV) 648.00p -1.44%




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