London’s FTSE 100 was down 0.3% at 7,126.88 in afternoon trade on Thursday.
Polymetal lost its shine even as the gold and silver miner raised capital expenditure forecasts to reflect global inflation and accelerating several projects to take advantage of high silver prices.
The company said first-half net profit rose 11% to $419m as silver and gold prices increased 59% and 8% respectively. Revenue was up 12% to $1.27bn.
Capex guidance for 2021 was raised to $675m – $725m from $560m due to “continuing macroeconomic pressures”, materials and wage inflation, costs of the feasibility study for its POX-3 project and acceleration of its Veduga and Prognoz projects.
Mondi and Aviva were also weaker as their stock went ex-dividend.
Building materials supplier CRH gained after it lifted its dividend as interim core earnings rose by a quarter and the company said it expected second half profits to be ahead of a record prior year.
Earnings for the six months to June 30 came in at $2bn, up 25% on a better-than-expected 15% increase in sales to $14bn. The dividend rose 4.5% to 23 cents a share.
FTSE 100 – Risers
CRH (CDI) (CRH) 3,862.00p 2.36%
ITV (ITV) 118.50p 1.76%
NATWEST GROUP PLC ORD 100P (NWG) 219.10p 1.53%
Ocado Group (OCDO) 2,072.00p 1.12%
Royal Mail (RMG) 495.00p 0.98%
Persimmon (PSN) 2,892.00p 0.84%
Royal Dutch Shell ‘B’ (RDSB) 1,437.40p 0.80%
Unilever (ULVR) 4,068.50p 0.71%
Royal Dutch Shell ‘A’ (RDSA) 1,442.00p 0.67%
Imperial Brands (IMB) 1,535.00p 0.66%
FTSE 100 – Fallers
Polymetal International (POLY) 1,471.00p -3.45%
Melrose Industries (MRO) 166.90p -2.77%
Antofagasta (ANTO) 1,432.50p -2.39%
Mondi (MNDI) 2,002.00p -1.91%
Rio Tinto (RIO) 5,330.00p -1.70%
Johnson Matthey (JMAT) 2,986.00p -1.58%
Smiths Group (SMIN) 1,411.00p -1.47%
Aviva (AV.) 415.20p -1.35%
Smurfit Kappa Group (CDI) (SKG) 4,169.00p -1.21%
National Grid (NG.) 939.50p -1.16%
FTSE 250 – Risers
Reach (RCH) 427.50p 3.76%
Hays (HAS) 162.40p 3.44%
Tyman (TYMN) 408.00p 2.77%
Capita (CPI) 48.42p 2.39%
Clarkson (CKN) 3,715.00p 2.34%
Mediclinic International (MDC) 304.80p 2.21%
Frasers Group (FRAS) 664.00p 2.15%
TP Icap Group (TCAP) 199.00p 2.05%
Genuit Group (GEN) 795.00p 1.92%
Network International Holdings (NETW) 377.80p 1.83%
FTSE 250 – Fallers
Hill & Smith Holdings (HILS) 1,812.00p -3.31%
Wizz Air Holdings (WIZZ) 5,020.00p -3.01%
Syncona Limited NPV (SYNC) 205.00p -2.84%
Petropavlovsk (POG) 19.74p -2.57%
Apax Global Alpha Limited (APAX) 211.00p -2.54%
Trainline (TRN) 351.20p -2.44%
Ferrexpo (FXPO) 379.80p -2.42%
Volution Group (FAN) 509.00p -2.12%
TUI AG Reg Shs (DI) (TUI) 322.90p -1.79%
Telecom Plus (TEP) 1,018.00p -1.74%
