FTSE 100 movers: Oil majors gush higher; Just Eat loses ground

London’s FTSE 100 was up 0.1% at 7,038.12 in afternoon trade on Wednesday.
Oil giants BP and Shell racked up strong gains as oil prices rallied.

Dettol maker Reckitt Benckiser advanced on the back of an upbeat note from JPMorgan Cazenove.

“After a disappointing H121, we see two upcoming catalysts short term which should help put the RKT equity story (and share price performance) on a more positive track,” it said.

“First, recent Nielsen data has been quite supportive (on Hygiene and Cold & Flu demand) lending strong support that the company is on track to deliver on its 0-2% FY21 LFL range, potentially even above that range.

“Second, we do expect an incremental positive from the upcoming strategic review (Sept 23rd) as we expect management to detail the progress on the turnaround journey, the improved capabilities in areas such as Innovation, Supply Chain, Execution as well as detailing progress on specific business areas and on return on investments.”

Just Eat Takeaway fell on news that rival Deliveroo has partnered with Amazon to offer members free delivery.

Travel-related shares were in the red, with engine marker Rolls-Royce, BA owner IAG, Premier Inn owner Whitbread and InterContinental Hotels all down.

FTSE 100 – Risers

BP (BP.) 307.25p 2.42%
Evraz (EVR) 599.00p 2.25%
Imperial Brands (IMB) 1,557.50p 2.10%
Antofagasta (ANTO) 1,457.00p 2.07%
Reckitt Benckiser Group (RKT) 5,910.00p 1.53%
Glencore (GLEN) 340.25p 1.30%
Royal Dutch Shell ‘A’ (RDSA) 1,468.20p 1.26%
Weir Group (WEIR) 1,786.00p 1.05%
Lloyds Banking Group (LLOY) 44.01p 1.03%
Abrdn (ABDN) 261.10p 1.01%

FTSE 100 – Fallers

Rolls-Royce Holdings (RR.) 105.18p -3.65%
International Consolidated Airlines Group SA (CDI) (IAG) 137.50p -3.24%
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,398.00p -3.16%
Johnson Matthey (JMAT) 2,681.00p -2.97%
Burberry Group (BRBY) 1,787.50p -2.96%
Whitbread (WTB) 3,194.00p -2.77%
Associated British Foods (ABF) 1,867.50p -2.40%
InterContinental Hotels Group (IHG) 4,512.00p -2.27%
British Land Company (BLND) 506.20p -2.20%
Bunzl (BNZL) 2,550.00p -2.04%

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