London’s FTSE 100 was down 0.1% at 7,597.12 in afternoon trade on Wednesday.
Building materials group CRH rallied after it reported a positive start to the year, with group like-for-like sales up 13% in the first quarter and first-half sales, EBITDA and margin set to be ahead of the prior year. The company said sales growth and performance were supported by improved activity levels and the continued execution of its integrated solutions strategy.
On the downside, Anglo-Australian mining giant Rio Tinto lost ground after it reported lower-than-expected iron ore shipments in the first quarter as it warned of inflationary risk, a resurgence of Covid lockdowns in China and the impact of a prolonged Russia-Ukraine war. Miners more generally were under pressure, with Glencore and Anglo American also down as copper prices fell.
Hikma fell despite saying that it has received preliminary approval from the US Federal Trade Commission for the acquisition of sterile injectables company Custopharm Inc from Water Street Healthcare for up to $425m.
FTSE 100 – Risers
CRH (CDI) (CRH) 3,149.00p 3.69%
Experian (EXPN) 2,806.00p 3.50%
Coca-Cola HBC AG (CDI) (CCH) 1,625.00p 3.40%
Ashtead Group (AHT) 4,737.00p 3.16%
Intermediate Capital Group (ICP) 1,661.00p 2.88%
Lloyds Banking Group (LLOY) 46.63p 2.79%
Ferguson (FERG) 10,520.00p 2.63%
M&G (MNG) 215.10p 2.62%
SSE (SSE) 1,831.00p 2.58%
Melrose Industries (MRO) 124.50p 2.51%
FTSE 100 – Fallers
Glencore (GLEN) 512.60p -4.29%
Rio Tinto (RIO) 5,905.00p -3.86%
Anglo American (AAL) 4,004.50p -3.62%
Ocado Group (OCDO) 1,111.00p -2.80%
ITV (ITV) 72.30p -2.61%
Pershing Square Holdings Ltd NPV (PSH) 2,890.00p -2.36%
Vodafone Group (VOD) 127.62p -2.12%
Tesco (TSCO) 265.30p -1.85%
Hikma Pharmaceuticals (HIK) 2,044.00p -1.78%
Fresnillo (FRES) 783.40p -1.58%
