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FTSE 100 movers: Phoenix Group rallies; JD Sports slumps on Nike results

14:34, 22nd March 2024

London's FTSE 100 was up 0.6% at 7,930.40 in afternoon trade on Friday.
Phoenix Group jumped to the top of the index after a robust set of results for 2023, with total cash generation of £2.024bn exceeding its upgraded target of £1.8bn for the year.

The company said that included a substantial benefit of around £400m from the part VII transfer of Standard Life and Phoenix Life, announced in November. It achieved £1.514bn in incremental new business long-term cash generation, surpassing its 2025 target of £1.5bbn two years ahead of schedule.

On the downside, JD Sports slid as Nike fell after warning that sales will take a hit this year as it works to realign merchandise to better match what shoppers are after.

Vodafone was in the black as the Competition and Markets Authority said that it and Three will need to find ways to assuage its competition concerns and show that their planned $19bn merger would not leave consumers worse off or face a full investigation.

FTSE 100 - Risers

Phoenix Group Holdings (PHNX) 535.00p 9.59%
Reckitt Benckiser Group (RKT) 4,435.00p 3.14%
NATWEST GROUP (NWG) 260.10p 2.64%
Vodafone Group (VOD) 68.92p 2.10%
Hikma Pharmaceuticals (HIK) 1,908.00p 1.84%
Lloyds Banking Group (LLOY) 52.42p 1.81%
WPP (WPP) 741.20p 1.79%
Croda International (CRDA) 5,088.00p 1.68%
BT Group (BT.A) 108.80p 1.63%
Airtel Africa (AAF) 99.30p 1.59%

FTSE 100 - Fallers

JD Sports Fashion (JD.) 109.00p -6.92%
DCC (CDI) (DCC) 5,668.00p -1.32%
Frasers Group (FRAS) 793.00p -1.25%
International Consolidated Airlines Group SA (CDI) (IAG) 164.65p -1.23%
Standard Chartered (STAN) 669.40p -0.98%
Rentokil Initial (RTO) 471.70p -0.97%
Rio Tinto (RIO) 5,000.00p -0.95%
Halma (HLMA) 2,342.00p -0.85%
Taylor Wimpey (TW.) 141.20p -0.74%
3i Group (III) 2,729.00p -0.69%

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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.

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