FTSE 100 movers: Spirax-Sarco shares drop, Persimmon and Antofagasta rise

by | Aug 10, 2023

(Sharecast News) – Shares in Spirax-Sarco Engineering dropped after the group revealed a 7% decline in statutory operating profit for the first half on the back of a drop in sales from its Watson-Marlow division.

Shore Capital has reiterated its ‘hold’ stance on Spirax-Sarco after the company underwhelmed with guidance on organic growth for the year, saying the stock is “full valued” for now.

Housebuilder Persimmon gained after saying it was on track to meet expectations for full-year profit, despite higher mortgage rates, the removal of Help-to-Buy and “significant” market uncertainty. Top-line growth, excluding bulk sales, was described as “robust”, private average selling prices increased in its order book and costs savings were achieved, it said.

Antofagasta rose strongly after announcing first-half revenue of $2.89bn – a 14.3% increase year-on-year, primarily due to higher copper and by-product sales volumes and prices.

Sector peer Rio Tinto was lower after trading ex-dividend.

Burberry was among the best performers on news that US-listed sector peer Capri Holdings, owner of Versace, Michael Kors and Jimmy Choo, was being bought by Coach owner Tapestry for $8.5bn.

FTSE 100 – Risers

Persimmon (PSN) 1,169.00p 4.05%
Burberry Group (BRBY) 2,262.00p 3.01%
Prudential (PRU) 1,039.50p 2.36%
Croda International (CRDA) 5,604.00p 2.11%
Haleon (HLN) 335.45p 2.07%
InterContinental Hotels Group (IHG) 6,042.00p 1.82%
Severn Trent (SVT) 2,434.00p 1.80%
Antofagasta (ANTO) 1,633.50p 1.65%
Legal & General Group (LGEN) 232.60p 1.62%
Ocado Group (OCDO) 856.20p 1.54%

FTSE 100 – Fallers

Spirax-Sarco Engineering (SPX) 10,430.00p -3.74%
Rio Tinto (RIO) 4,797.50p -3.18%
NATWEST GROUP (NWG) 234.70p -1.55%
Smurfit Kappa Group (CDI) (SKG) 3,154.00p -1.38%
Fresnillo (FRES) 543.00p -1.16%
HSBC Holdings (HSBA) 630.20p -0.91%
BAE Systems (BA.) 1,019.50p -0.83%
Smith (DS) (SMDS) 298.60p -0.80%
SEGRO (SGRO) 749.80p -0.74%
Abrdn (ABDN) 193.35p -0.64%

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