London’s FTSE 100 was flat at 7,121.55 in afternoon trade on Monday.
SSE was the top gainer on the index following reports over the weekend that activist investor Elliott Management has built a stake in the company, fuelling speculation that it could be broken up or taken over. Severn Trent and United Utilities also advanced.
On the downside, Hargreaves Lansdown slumped as the investment platform posted a dip in full-year pre-tax profit, but said net new business inflows and assets under administration rose as demand for its services – particularly online – grew.
Investors were likely focusing on the 8% decline in the total dividend and chief executive Chris Hill’s warning that trading levels are expected to moderate.
British Airways and Iberia owner IAG flew lower a day after it was reported that Odey Asset Management had sold its stake in BA.
FTSE 100 – Risers
SSE (SSE) 1,618.50p 4.69%
Severn Trent (SVT) 2,811.00p 1.48%
Ashtead Group (AHT) 5,506.00p 1.21%
United Utilities Group (UU.) 1,066.50p 1.04%
Standard Chartered (STAN) 462.80p 0.78%
Imperial Brands (IMB) 1,580.50p 0.77%
Smith & Nephew (SN.) 1,386.50p 0.76%
Rentokil Initial (RTO) 558.60p 0.72%
Unilever (ULVR) 4,120.50p 0.70%
GlaxoSmithKline (GSK) 1,445.60p 0.64%
FTSE 100 – Fallers
Hargreaves Lansdown (HL.) 1,468.50p -10.48%
International Consolidated Airlines Group SA (CDI) (IAG) 167.84p -3.23%
Weir Group (WEIR) 1,642.00p -2.61%
ITV (ITV) 114.10p -2.60%
Informa (INF) 501.40p -2.34%
Antofagasta (ANTO) 1,488.00p -2.30%
Barratt Developments (BDEV) 705.20p -2.19%
Persimmon (PSN) 2,853.00p -2.13%
British Land Company (BLND) 516.00p -2.12%
Smiths Group (SMIN) 1,436.50p -2.08%
