FTSE 100 movers: Fresnillo shines; Bunzl tumbles

(Sharecast News) - London's FTSE 100 was down 0.2% at 8,233.02 in afternoon trade on Wednesday. Precious metals miner Fresnillo shot to the top of the index as gold rallied to a fresh high amid trade war concerns.

Barratt Redrow gained as it reported a stable trading performance for the quarter ended 30 March, with a slight year-on-year increase in its core private reservation rate and a total of 3,717 home completions, keeping it on track to deliver full-year guidance of 16,800 to 17,200 homes.

Bunzl tumbled as it lowered its guidance for 2025 after a worse-than-expected start to the year, with profits down "significantly" in the first quarter due to a challenging economic backdrop.

The international distribution and services group said it now expects only a "moderate" increase in revenues at constant exchange rates this year, down from an earlier projection for "robust growth", while the operating margin is now expected to reduce to 8.0% compared with the initial targets for no change from 8.3% in 2024.

Russ Mould, investment director at AJ Bell, said: "Bunzl is supposed to be a reliable stock - providing everyday essentials like disposable coffee cups to cafes and food wrap to supermarkets. It's not supposed to pull the rug from under investors' feet by delivering a major profit warning and abandoning a current share buyback.

"This helps explain the ferocity of the market reaction as the company's reputation as a steady performer takes a real battering.

"The culprits behind the softer showing include a tricky environment in North America - the company's largest business. Execution on shifting from third-party suppliers to its own branded products has not been up to scratch and, along with challenges around rising costs and deflation, have helped squeeze margins.

"It could take some time for Bunzl to reestablish its credentials as a steady performer and it faces a real challenge to get back on track given the volatile backdrop."

FTSE 100 - Risers

Fresnillo (FRES) 1,086.00p 2.65% Barratt Redrow (BTRW) 437.70p 2.34% Coca-Cola Europacific Partners (DI) (CCEP) 6,850.00p 2.09% Land Securities Group (LAND) 561.50p 1.63% BP (BP.) 352.35p 1.61% Associated British Foods (ABF) 2,135.00p 1.47% Shell (SHEL) 2,405.50p 1.43% Coca-Cola HBC AG (CDI) (CCH) 3,720.00p 1.36% Persimmon (PSN) 1,191.50p 1.32% National Grid (NG.) 1,066.50p 1.14%

FTSE 100 - Fallers

Bunzl (BNZL) 2,262.00p -26.51% Intermediate Capital Group (ICG) 1,740.00p -4.19% Diploma (DPLM) 3,804.00p -3.94% Informa (INF) 688.00p -3.78% InterContinental Hotels Group (IHG) 7,502.00p -3.42% WPP (WPP) 538.60p -2.78% Rolls-Royce Holdings (RR.) 714.20p -2.41% Flutter Entertainment (DI) (FLTR) 17,060.00p -2.35% IMI (IMI) 1,695.00p -2.25% Standard Chartered (STAN) 1,002.00p -2.24%