FTSE 100 movers: Oil giants gush lower; Avast surges

by | Jul 15, 2021

London’s FTSE 100 was down 1% at 7,021.66 in afternoon trade on Thursday.
Just Eat Takeaway.com slumped even after it said losses had peaked and it expected to move back into profit after orders increased by more than half in the first six months of 2021.

IG market analyst Chris Beauchamp said: “A 73% gain in UK order growth just doesn’t cut it any more, it appears, and in any case matching this for the next half is likely to prove impossible, given the expected return to pubs and restaurants and the concomitant decline in takeaway orders.”

BP and Shell gushed lower as oil prices fell amid expectations of more supply after a truce between Saudi Arabia and the UAE.

Going the other way, cybersecurity firm Avast surged to the top of the index after confirming it was in advanced talks over a merger with NortonLifeLock. If the deal goes through, it will be a cash-and-share offer, Avast said, but added there was no certainty a deal will be agreed.

Credit-checking firm Experian rallied after it lifted its full-year expectations as it reported a jump in first-quarter revenues, with all regions and segments delivering growth.

B&Q owner Kingfisher gained after it said late on Wednesday that first-half adjusted pre-tax profit was set to be ahead of its previous expectations after better-than-anticipated second-quarter trading.

InterContinental Hotels was up after Deutsche Bank upgraded its recommendation on the shares to ‘buy’ from ‘hold’ and hiked the price target to 5,600p from 5,175p as it said the stock was “a relative safe haven” in the sector.

FTSE 100 – Risers

Avast (AVST) 590.80p 17.18%
Experian (EXPN) 3,098.00p 4.06%
Prudential (PRU) 1,368.00p 1.79%
Kingfisher (KGF) 366.60p 1.19%
Coca-Cola HBC AG (CDI) (CCH) 2,637.00p 0.92%
Spirax-Sarco Engineering (SPX) 14,385.00p 0.91%
Polymetal International (POLY) 1,612.50p 0.75%
Bunzl (BNZL) 2,613.00p 0.73%
Diageo (DGE) 3,512.00p 0.72%
InterContinental Hotels Group (IHG) 4,674.00p 0.71%

FTSE 100 – Fallers

Just Eat Takeaway.Com N.V. (CDI) (JET) 6,056.00p -5.70%
International Consolidated Airlines Group SA (CDI) (IAG) 165.72p -3.04%
BP (BP.) 295.60p -3.00%
JD Sports Fashion (JD.) 897.00p -2.90%
Taylor Wimpey (TW.) 157.80p -2.89%
Next (NXT) 7,566.00p -2.88%
Melrose Industries (MRO) 149.45p -2.80%
Royal Dutch Shell ‘B’ (RDSB) 1,370.00p -2.77%
Royal Dutch Shell ‘A’ (RDSA) 1,404.00p -2.72%
Intermediate Capital Group (ICP) 2,094.00p -2.65

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