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FTSE 100 movers: Burberry bounces on Kering results; Barclays slumps
(Sharecast News) - London's FTSE 100 was up 0.5% at 7,996.46 in afternoon trade on Wednesday, having earlier breached the 8,000 level. Luxury brand Burberry was among the gainers as French peer Kering reversed earlier losses to trade sharply higher following results.
Barclays slid after it said annual profits fell 14%, with provisions for debt impairments increasing as the economy worsened.
The bank posted a pre-tax profit of £7bn in 2022, down from £8.2bn a year earlier and missing estimates of £7.2bn. Credit impairment charges were £1.22bn against a net release of £653m, reflecting "macroeconomic deterioration and a gradual increase in delinquencies".
Lloyds and NatWest also fell.
Hargreaves Lansdown lost ground even as it posted strong growth on both its top and bottom lines at the first half-year stage, despite the impact from "challenging" external conditions and low investor confidence on asset values and stockbroking volumes.
Glencore fell despite announcing a $7.1bn payout to shareholders and reporting record full-year profits.
FTSE 100 - Risers
Entain (ENT) 1,371.00p 3.86% Coca-Cola HBC AG (CDI) (CCH) 2,101.00p 3.09% Burberry Group (BRBY) 2,466.00p 2.54% Flutter Entertainment (CDI) (FLTR) 13,030.00p 2.04% Persimmon (PSN) 1,437.50p 1.99% CRH (CDI) (CRH) 3,927.00p 1.93% Rolls-Royce Holdings (RR.) 110.36p 1.85% Pershing Square Holdings Ltd NPV (PSH) 3,035.00p 1.85% Scottish Mortgage Inv Trust (SMT) 751.80p 1.73% British American Tobacco (BATS) 3,162.00p 1.64%
FTSE 100 - Fallers
Barclays (BARC) 171.26p -8.57% Hargreaves Lansdown (HL.) 868.00p -8.42% Lloyds Banking Group (LLOY) 52.10p -3.14% Glencore (GLEN) 503.80p -2.35% NATWEST GROUP (NWG) 297.90p -2.33% Anglo American (AAL) 3,139.00p -2.30% Fresnillo (FRES) 777.40p -2.04% Rio Tinto (RIO) 5,922.00p -1.60% BT Group (BT.A) 136.35p -1.41% Antofagasta (ANTO) 1,683.50p -1.12%
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