Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: AB Foods rallies on results; miners slump

(Sharecast News) - London's FTSE 100 was up 0.1% at 8,033.08 in afternoon trade on Tuesday. Primark owner Associated British Foods surged to the top of the index after it posted a jump in interim profit and revenue as it lifted its full-year profit outlook.

In the 24 weeks to 2 March, adjusted pre-tax profit rose 37% to £911m, on revenue of £9.7bn, up 2% at actual rates and 5% at constant currency. The company said revenue growth was driven by continued good momentum in retail and food businesses.

Adjusted operating profit was up 39% at £951m.

Revenue from the retail segment pushed up 7.5% to £4.5bn, while revenue from the grocery arm grew 5% to £2.1bn.

Looking ahead, AB Foods said it was on track to deliver "significant" growth in both profitability and cash generation ahead of expectations at the start of this financial year.

JD Sports Fashion was also a high riser after announcing the acquisition of US sports fashion retailer Hibbett for $1.08bn (£878m).

Headquartered in Birmingham, Alabama, Nasdaq-listed Hibbett has 1,169 stores in 36 states across the US trading under the Hibbett and City Gear fascias. JD Sports said it would pay $87.50 a share in cash for Hibbett stock.

On the downside, miners slumped, with Anglo American, Antofagasta, Glencore and Rio Tinto all down.

FTSE 100 - Risers

Associated British Foods (ABF) 2,750.00p 9.74% Ocado Group (OCDO) 376.40p 5.02% JD Sports Fashion (JD.) 123.20p 4.01% Flutter Entertainment (DI) (FLTR) 15,085.00p 2.38% Standard Chartered (STAN) 685.00p 2.03% NATWEST GROUP (NWG) 285.30p 2.00% InterContinental Hotels Group (IHG) 8,028.00p 1.90% Marks & Spencer Group (MKS) 261.20p 1.79% WPP (WPP) 802.80p 1.72% Next (NXT) 9,204.00p 1.63%

FTSE 100 - Fallers

Anglo American (AAL) 2,078.50p -3.77% Fresnillo (FRES) 569.50p -2.98% Antofagasta (ANTO) 2,139.00p -2.82% Smith (DS) (SMDS) 347.60p -2.03% Glencore (GLEN) 465.75p -1.93% Rio Tinto (RIO) 5,289.00p -1.80% Mondi (MNDI) 1,503.50p -1.51% BT Group (BT.A) 106.80p -1.25% Smurfit Kappa Group (CDI) (SKG) 3,516.00p -0.96% Persimmon (PSN) 1,305.00p -0.95%

Share this article

Related Sharecast Articles

Broker tips: FRP Advisory, AutoTrader
(Sharecast News) - Analysts at Berenberg raised their target price on liquidators FRP Advisory from 175.0p to 200.0p on Friday, stating the group's FY24 update delivered "sizeable upgrades".
London close: Stocks recoup some earlier losses
(Sharecast News) - London stocks remained in negative territory by Friday's close, although they managed to recoup some of the losses seen earlier in the session as Wall Street opened with positive momentum.
US open: Dow Jones on track for fifth-straight winning week
(Sharecast News) - Wall Street stocks were little changed early on Friday after the blue-chip Dow Jones briefly crossed the psychologically important 40,000-point mark for the first time in its history a day earlier.
FTSE 250 movers: IDS in focus on bid hopes; TUI slips
(Sharecast News) - FTSE 250 (MCX) 20,752.84 -0.34%

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.