FTSE 100 movers: DS Smith on the rise, Anglo-American loses shine

by | Dec 9, 2022

FTSE 100: 7,487.88, up 0.21% at 1507 GMT.
Housebuilder Berkeley Group nudged up after it backed its full-year profit outlook but posted a drop in first-half profits.

Primark owner Associated British Foods ticked down as it maintained full-year guidance, saying it continued to expect further significant input cost inflation, but the volatility of input costs had diminished.

Anglo American fell after saying 2022 production had fallen by around 3% as the Quellaveco copper ramp-up and strong diamond production was offset by ore grades in Chile and lower production from Kumba and platinum group metals.

Duncan Wanblad, Chief Executive of Anglo American, said: “This year has seen us focus on our immediate priorities of safety and restoring normal operational disciplines given the pandemic related disruptions of the last few years.”

“In 2022, these have been added to by geopolitically-led economic volatility, and extreme weather and other localised disruptions at our operations.

“As we have built operational momentum in the second half, we have also moderated our near-term production growth plans with a clear priority to deliver a stable platform from which to build strengthened and repeatable performance.”

Anglo said 2022 unit costs were up around 16% and it guided for capital expenditure of around $5.7bn after supply chain disruptions and foreign exchange.

The mining giant forecast a 5% rise in 2023 with capex forecast at $6-$6.5bn. In 2024, production was expected to increase 5%, with capex forecast at $5.5-$6bn.

Packaging group DS Smith gained after reporting higher earnings on Thursday.

FTSE 100 – Risers

Smith (DS) (SMDS) 325.80p 4.09%
Ocado Group (OCDO) 701.80p 3.85%
InterContinental Hotels Group (IHG) 4,972.00p 3.76%
Prudential (PRU) 1,089.50p 2.93%
Rolls-Royce Holdings (RR.) 93.75p 2.58%
Intermediate Capital Group (ICP) 1,185.00p 2.42%
Mondi (MNDI) 1,495.50p 2.29%
Admiral Group (ADM) 2,018.00p 1.97%
Dechra Pharmaceuticals (DPH) 2,724.00p 1.79%
Smurfit Kappa Group (CDI) (SKG) 3,052.00p 1.77%

FTSE 100 – Fallers

Frasers Group (FRAS) 787.50p -3.31%
Anglo American (AAL) 3,199.00p -3.05%
Fresnillo (FRES) 870.20p -1.72%
Tesco (TSCO) 227.20p -1.60%
International Consolidated Airlines Group SA (CDI) (IAG) 132.42p -1.59%
GSK (GSK) 1,461.60p -1.48%
BAE Systems (BA.) 823.00p -1.01%
Pershing Square Holdings Ltd NPV (PSH) 2,860.00p -0.87%
Associated British Foods (ABF) 1,641.50p -0.79%
Diageo (DGE) 3,748.50p -0.73%

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