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FTSE 100 movers: JD Sports out fashion; Persimmon powers ahead
(Sharecast News) - London's FTSE 100 was down 0.2% at 8,208.53 in afternoon trade on Tuesday. JD Sports Fashion was under the cosh after it downgraded its full-year profit forecast as it posted a drop in revenue for November and December in challenging markets.
In an update for the nine weeks to 4 January, the retailer said like-for-like revenue across the two months fell 1.5% "in a challenging and volatile market that saw increased promotional activity".
The group now expects full-year pre-tax profit of between £915m and £935m, down from previous guidance of £955m to £1.035bn.
Games Workshop also lost ground despite posting record first-half results.
Persimmon surged to the top of the index as the housebuilder said full-year underlying pre-tax profit was set to be around the upper end of market expectations as completions were ahead of market forecasts.
In an update ahead of final results for the year to the end of December, the housebuilder said completions rose 7% on the previous year to 10,664 homes. This was driven by an 18% jump in private home completions to 9,075, with 1,589 partnership homes delivered in the period, up from 2,241.
Persimmon now expects full-year underlying pre-tax profit for 2024 to be around the upper end of market expectations of £349m to £390m, with underlying operating margins similar to the prior year, in line with previous guidance.
Peer Barratt Redrow also gained.
FTSE 100 - Risers
Persimmon (PSN) 1,115.00p 5.59% Ashtead Group (AHT) 5,054.00p 3.86% Pershing Square Holdings Ltd NPV (PSH) 4,202.00p 3.75% Airtel Africa (AAF) 119.70p 3.10% St James's Place (STJ) 831.50p 2.91% International Consolidated Airlines Group SA (CDI) (IAG) 311.20p 2.17% Informa (INF) 802.80p 2.03% Convatec Group (CTEC) 231.40p 2.03% Barratt Redrow (BTRW) 405.50p 1.96% Auto Trader Group (AUTO) 777.20p 1.70%
FTSE 100 - Fallers
JD Sports Fashion (JD.) 88.56p -8.04% Games Workshop Group (GAW) 12,710.00p -3.93% BP (BP.) 418.85p -2.86% Croda International (CRDA) 3,121.00p -2.19% Centrica (CNA) 132.90p -2.17% Next (NXT) 9,156.00p -2.07% Intermediate Capital Group (ICG) 2,030.00p -2.03% Diageo (DGE) 2,346.50p -1.88% GSK (GSK) 1,310.00p -1.58% Tesco (TSCO) 355.10p -1.42%
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