FTSE 100 movers: SSE rallies after results; Ocado collapses
London’s FTSE 100 rose 0.7% to 7,537.60 in Wednesday afternoon trade.
SSE was the most notable gainer after posting a 23% increase in pre-tax profit for the full year. Shares fell sharply on Tuesday following reports that Chancellor Rishi Sunak had ordered a one-off tax plan on electricity generators.
Elsewhere, tobacco company Imperial Marks was boosted by an upgrade to “buy” at Goldman Sachs.
The other way, online supermarket ocado collapsed after Retail business – its 50/50 joint venture with Marks & Spencer – cut off his prospects. It now expects sales growth in FY22 to be in the low 10s rather than the 10% it had previously guided.
Thirty Severn was lower despite an increase in annual incomes as consumption returned to pre-pandemic levels.
Prudential fell as the insurer announced that it had appointed Anil Wadhwani as the group’s chief executive from February 25. Wadhwani, who will be based in Hong Kong, will join Manulife, where he was president and CEO for Asia.
JD Sports was also in the red following the disappointing results of Dick Sporting Goods in the United States, which recorded a decline in sales in the first quarter and revised down its outlook for the year.
FTSE 100 – Risers
SSE (SSE) 1,864.00p 5.55%
WPP (WPP) 906.60p 3.54%
Imperial Marks (IMB) 1,840.00p 3.08%
British American Tobacco (BATS) 3,580.50p 2.64%
Automotive Traders Group (AUTO) 566.80p 2.42%
Rolls-Royce Holdings (RR.) 81.93p 2.31%
Anglo-American (AAL) 3,700.00p 2.08%
ITV (ITV) 72.20p 2.06%
Coca-Cola HBC SA (CDI) (CCH) 1,746.50p 2.02%
Move right (RMV) 567.80p 1.98%
FTSE 100 – Slaughterhouses
Ocado Group (OCDO) 733.40p -4.13%
Severn Trent (SVT) 3,058.00p -2.86%
Prudential (PRU) 985.00p -2.33%
RS group (RS1) 890.00p -1.98%
Burberry Group (BRBY) 1,550.00p -1.71%
JD Sports Fashion (JD.) 117.45p -1.55%
British Land Company (BLND) 519.60p -1.48%
Sainsbury’s (J) (SBRY) 228.90p -1.46%
Avast (AVST) 483.00p -1.43%
United Utilities Group (UU.) 1,119.50p -1.41%