London’s FTSE 100 was down 0.1% at 6,981.15 in afternoon trade on Monday.
British Gas owner Centrica slumped amid reports that ministers are pushing ahead with plans to cap prices at renewable energy generators, after talks failed to persuade them to voluntarily fix contracts well below the current wholesale rates.
According to The Times, a cap to stop renewable electricity generators cashing in on soaring power prices could rake in up to £14bn a year for the Treasury.
Going the other way, DS Smith surged to the top of the index after the paper and packaging group said its performance for the full year was set to be ahead of expectations. Peers Smurfit Kappa and Mondi also racked up strong gains.
Unite Group rallied after the student accommodation provider said full-year earnings were on track to come in at the top end of expectations as student numbers continue to grow.
FTSE 100 – Risers
Smith (DS) (SMDS) 274.20p 13.40%
Smurfit Kappa Group (CDI) (SKG) 2,644.00p 7.83%
Mondi (MNDI) 1,433.50p 5.91%
Unite Group (UTG) 830.50p 4.40%
M&G (MNG) 173.05p 4.37%
Kingfisher (KGF) 213.60p 3.89%
Next (NXT) 4,613.00p 3.50%
B&M European Value Retail S.A. (DI) (BME) 317.70p 3.49%
Ocado Group (OCDO) 447.00p 3.45%
Croda International (CRDA) 6,750.00p 3.21%
FTSE 100 – Fallers
Centrica (CNA) 68.68p -3.19%
Diageo (DGE) 3,640.00p -2.50%
Fresnillo (FRES) 772.60p -1.90%
Rolls-Royce Holdings (RR.) 69.38p -1.73%
AstraZeneca (AZN) 9,885.00p -1.45%
BAE Systems (BA.) 834.20p -1.42%
National Grid (NG.) 895.20p -1.41%
Haleon (HLN) 275.55p -1.34%
Endeavour Mining (EDV) 1,570.00p -1.26%
Severn Trent (SVT) 2,292.00p -1.21%
