FTSE 100 movers: Shell slumps on profit warning; RS rallies

By Michele Maatouk

London’s FTSE 100 was down 0.9% at 6,992.17 in afternoon trade on Thursday.
Shell slumped as it warned third-quarter profits would be hit by a sharp decline in oil refining margins and weaker natural gas trading.

Kingfisher, Centrica and DS Smith were all lower as they traded without entitlement to the dividend.

Anglo American retreated after a downgrade to ‘hold’ from ‘buy’ at Berenberg.

The bank said it was downgrading the stock “on poor operational delivery and a deteriorating macroeconomic sentiment, which we think will weigh on the shares until we see operational delivery and/or better macro sentiment”.

RS Group – formerly Electrocomponents – was a high riser as it said full-year revenue and adjusted pre-tax profit were set to be “slightly ahead” of current consensus estimates following strong trading year to date. For the year ending 31 March 2023, consensus estimates are for revenue of £2.86bn and adjusted pre-tax profit of £357.7m.

FTSE 100 – Risers

Flutter Entertainment (CDI) (FLTR) 10,600.00p 2.66%
SEGRO (SGRO) 742.80p 2.57%
Entain (ENT) 1,155.00p 2.35%
Convatec Group (CTEC) 213.00p 2.31%
Fresnillo (FRES) 821.80p 2.14%
RS Group (RS1) 1,027.00p 2.09%
Ashtead Group (AHT) 4,413.00p 2.08%
Prudential (PRU) 946.00p 2.07%
Informa (INF) 543.00p 2.07%
Ocado Group (OCDO) 464.90p 1.93%

FTSE 100 – Fallers

Shell (SHEL) 2,275.00p -4.35%
Kingfisher (KGF) 216.30p -4.08%
Centrica (CNA) 68.76p -3.99%
Smith (DS) (SMDS) 249.80p -3.37%
Anglo American (AAL) 2,786.50p -2.91%
Rolls-Royce Holdings (RR.) 71.87p -2.77%
St James’s Place (STJ) 1,005.00p -2.33%
SSE (SSE) 1,505.50p -2.14%
Standard Chartered (STAN) 570.60p -2.06%
Bunzl (BNZL) 2,750.00p -1.89%

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