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FTSE 100 movers: Entain surges on Evoke update;
(Sharecast News) - London's FTSE 100 was up 1.5% at 8,515.65 in afternoon trade on Friday. Ladbrokes owner Entain rose after William Hill and 888 owner Evoke said that FY24 EBITDA was set to be at the high end of guidance and "well above" market expectations after a strong performance in the fourth quarter.
Smiths Group jumped as US activist investor Engine Capital called on the diversified engineer to explore a breakup.
In a letter sent to the board, Engine Capital - which holds a 2% stake in Smiths - said Smiths should launch a strategic review.
"We believe that Smiths has significant value that is currently unrealised due to its conglomerate structure, and that it is time for the board to announce a strategic alternatives process to maximise value for shareholders," it said.
Engine Capital said a sale of the entire company or its four business could deliver a significant premium to the current share price.
Glencore was up following reports that it and Rio Tinto have been discussing a potential merger.
According to Bloomberg News, which cited people close to the matter, discussions were at an early stage but it was unclear whether these talks were still ongoing.
According to sources cited by the Financial Times, talks were held as recently as October.
FTSE 100 - Risers
Entain (ENT) 664.40p 5.46% Smiths Group (SMIN) 1,859.00p 5.33% Spirax Group (SPX) 7,245.00p 4.62% Prudential (PRU) 650.80p 4.16% Croda International (CRDA) 3,307.00p 3.21% Anglo American (AAL) 2,535.50p 3.07% Reckitt Benckiser Group (RKT) 5,030.00p 2.88% Glencore (GLEN) 380.05p 2.70% Lloyds Banking Group (LLOY) 58.75p 2.60% Associated British Foods (ABF) 2,017.00p 2.49%
FTSE 100 - Fallers
Fresnillo (FRES) 652.00p -4.19% Smurfit Westrock (DI) (SWR) 4,292.00p -0.58% JD Sports Fashion (JD.) 86.86p -0.57% Vodafone Group (VOD) 69.30p -0.29% Marks & Spencer Group (MKS) 335.80p -0.06% RELX FINANCE BV 3.375% GTD NTS 20/03/33 (BW73) 99.72p 0.00% Auto Trader Group (AUTO) 796.80p 0.10% London Stock Exchange Group (LSEG) 11,805.00p 0.13% Imperial Brands (IMB) 2,601.00p 0.15% Airtel Africa (AAF) 124.20p 0.16%
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