FTSE 100 movers: Burberry rallies on update; Ashtead falls

(Sharecast News) - London's FTSE 100 was up 0.2% at 7,579.48 in afternoon trade on Wednesday.
Burberry shares were in fashion after it reported a 5% rise in third-quarter revenues driven by an acceleration in full price sales. The company said revenue for the 13 weeks to December 25 came in at £723m compared with £688m.

Educational publisher Pearson gained as it raised annual profits guidance, driven by its assessment and qualification business.

Chilean copper miner Antofagasta was in the black after a production update, while Segro was boosted after JPMorgan Cazenove upgraded the shares to 'overweight' from 'neutral' and lifted the price target to 1,450p from 1,310p as it argued that recent underperformance was a buying opportunity.

JPM said property has borne the brunt of the shift in sentiment towards value thus far in 2022. This has driven the recent underperformance of Segro, which is down 10% year-to-date versus the sector down 3%.

British Airways owner IAG was the worst performer on the index after the airline cancelled a string of flights to the US amid fears over the rollout of 5G.

Equipment rental firm Ashtead and plumbing and heating distributor Ashtead fell, with traders pointing to the fact that the Empire State manufacturing index turned negative in January for the first time in 20 months.

FTSE 100 - Risers

Polymetal International (POLY) 1,206.00p 6.49%
Burberry Group (BRBY) 1,859.50p 5.92%
Pearson (PSON) 667.40p 5.53%
Anglo American (AAL) 3,533.00p 4.65%
Fresnillo (FRES) 834.00p 4.25%
Rio Tinto (RIO) 5,667.00p 4.12%
Unilever (ULVR) 3,652.00p 3.85%
Antofagasta (ANTO) 1,492.00p 3.68%
SEGRO (SGRO) 1,335.00p 3.13%
Rightmove (RMV) 678.80p 3.07%

FTSE 100 - Fallers

International Consolidated Airlines Group SA (CDI) (IAG) 160.22p -3.27%
Ashtead Group (AHT) 5,306.00p -2.71%
Sainsbury (J) (SBRY) 292.00p -2.24%
DCC (CDI) (DCC) 6,348.00p -2.07%
GlaxoSmithKline (GSK) 1,669.20p -1.88%
Rolls-Royce Holdings (RR.) 123.60p -1.64%
Ferguson (FERG) 11,935.00p -1.57%
Barclays (BARC) 206.80p -1.43%
British American Tobacco (BATS) 3,112.50p -1.36%
Prudential (PRU) 1,281.50p -1.00%