FTSE 100 movers: British Land gains; JD Sports hit by Nike update
London's FTSE 100 was down 0.6% at 8,648.96 in afternoon trade on Friday.
British Land gained as the real estate developer said it has been given the green light to redevelop the 31-storey Euston Tower into 560,000 square feet of workspaces and hospitality venues.
The tower, originally completed in 1970, is located at its Regent's Place campus on Euston Road, an area home to a growing tech ecosystem.
The revised plans will retain 31% of the original structure but using a circular economy approach, cutting embodied carbon and creating a "building fit for the future".
JD Sports was under the cosh after a disappointing update from Nike.
Russ Mould, investment director at AJ Bell, said: "The US sportswear giant warned the current quarter could see the company absorb a lot of pain as it looks to turn around its fortunes under new CEO Elliott Hill amid signs of slowing demand among American consumers.
"This overshadowed a better-than-feared showing in the three months to the end of February."
Intercontinental Hotels and Premier Inn owner Whitbread were also in the red as London's Heathrow airport was closed until Saturday after a fire at an electricity substation in the local area caused a "significant" power outage, hitting more than 1,300 flights.
BA and Iberia owner IAG was also weaker.
FTSE 100 - Risers
Vodafone Group (VOD) 75.32p 1.18%
British Land Company (BLND) 369.20p 0.82%
Compass Group (CPG) 2,426.00p 0.75%
Coca-Cola HBC AG (CDI) (CCH) 3,484.00p 0.64%
LondonMetric Property (LMP) 180.30p 0.39%
London Stock Exchange Group (LSEG) 11,290.00p 0.36%
Pershing Square Holdings Ltd NPV (PSH) 3,808.00p 0.32%
Rolls-Royce Holdings (RR.) 799.00p 0.30%
HSBC Holdings (HSBA) 878.60p 0.29%
BT Group (BT.A) 163.60p 0.25%
FTSE 100 - Fallers
JD Sports Fashion (JD.) 75.86p -4.96%
Antofagasta (ANTO) 1,822.00p -4.58%
Croda International (CRDA) 2,904.00p -4.38%
CRH (CDI) (CRH) 7,272.00p -4.21%
InterContinental Hotels Group (IHG) 8,248.00p -3.80%
Glencore (GLEN) 300.05p -3.21%
Diploma (DPLM) 3,926.00p -3.06%
Whitbread (WTB) 2,545.00p -2.97%
Spirax Group (SPX) 6,625.00p -2.50%
Mondi (MNDI) 1,215.00p -2.49%
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.