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FTSE 100 movers: SVT, United Utilities recover some ground; L&G hit by downgrade

15:03, 17th July 2024

London's FTSE 100 was up 0.4% at 8,197.09 in afternoon trade on Wednesday.

Severn Trent and United Utilities were among the gainers, having fallen on Tuesday after Ofwat said it was expanding its investigation into how water companies manage their wastewater treatment works and networks to include the two.

Antofagasta was under the cosh after the Chilean copper miner warned annual production would be at the lower end of guidance.

Total production for 2024 is now expected to be at the lower end of the company's guidance for between 670,000 and 710,000 tonnes.

Legal & General was hit by a downgrade to sector perform' from 'outperform' at RBC Capital Markets, which said the pension risk transfer (PRT) market has lost some of its lustre.

RBC slashed its target price for the stock from 295p to 245p, suggesting only minimal upside from Tuesday's closing price of 230p.

FTSE 100 - Risers

Severn Trent (SVT) 2,520.00p 1.90%
BT Group (BT.A) 140.25p 1.89%
Fresnillo (FRES) 636.00p 1.76%
Smith & Nephew (SN.) 1,079.00p 1.55%
Barclays (BARC) 230.85p 1.54%
Vodafone Group (VOD) 70.40p 1.47%
Coca-Cola HBC AG (CDI) (CCH) 2,728.00p 1.41%
United Utilities Group (UU.) 1,010.00p 1.30%
Imperial Brands (IMB) 2,071.00p 1.27%
BP (BP.) 451.00p 0.99%

FTSE 100 - Fallers

Antofagasta (ANTO) 2,041.00p -4.09%
Intertek Group (ITRK) 4,650.00p -2.39%
Intermediate Capital Group (ICG) 2,158.00p -2.35%
Melrose Industries (MRO) 573.00p -2.29%
Sage Group (SGE) 1,039.50p -1.84%
Weir Group (WEIR) 1,948.00p -1.81%
Scottish Mortgage Inv Trust (SMT) 879.00p -1.59%
Frasers Group (FRAS) 831.00p -1.54%
InterContinental Hotels Group (IHG) 8,398.00p -1.50%
Legal & General Group (LGEN) 227.00p -1.48%

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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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