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20 Nov, 2020 14:53 20 Nov, 2020 14:53

FTSE 100 movers: BAE rallies on defence spending news; Sage slumps

sage group accounting
sage

London’s FTSE 100 was up 0.3% at 6,354.44 in afternoon trade on Friday.

Miners Antofagasta and Glencore were both higher as copper prices rose.

BAE Systems rallied, boosted by news of a £16.5bn increase in defence spending.

Pearson was on the up after FIL lifted its stake in the education publisher, while Intertek was a high riser after an initiation at ‘buy’ by Stifel.

Hargreaves Lansdown was also in the black after Barclays said in a note that it was one of its favoured names in the investment platform sector.

Accounting software firm Sage slumped even after it lifted its dividend as it reported an 8.5% rise in organic recurring revenue rose to £1.6bn, driven by growth from existing and new customers, principally in North America and Northern Europe. Micro Focus also lost ground.

Smurfit Kappa was in the red after raising €660m in a share placing to accelerate its investments and capitalise on the trends towards e-commerce and sustainable packaging for products. The company said it had identified between €1.2-1.4bn of investment opportunities to boost the group's competitive advantage.

Speciality chemicals company Johnson Matthey was weaker after a downgrade to ‘reduce’ at AlphaValue.

FTSE 100 - Risers

Antofagasta (ANTO) 1,133.50p 3.33%
Smiths Group (SMIN) 1,570.50p 2.61%
BAE Systems (BA.) 521.00p 2.60%
Glencore (GLEN) 194.88p 2.33%
Pearson (PSON) 652.60p 2.13%
JD Sports Fashion (JD.) 818.60p 2.12%
Intertek Group (ITRK) 6,156.00p 2.06%
Hargreaves Lansdown (HL.) 1,498.00p 2.01%
Bunzl (BNZL) 2,427.00p 1.97%
Royal Dutch Shell 'A' (RDSA) 1,247.80p 1.78%

FTSE 100 - Fallers

Sage Group (SGE) 588.40p -13.45%
Smurfit Kappa Group (SKG) 3,124.00p -3.04%
Intermediate Capital Group (ICP) 1,673.00p -2.73%
Johnson Matthey (JMAT) 2,344.00p -2.66%
BT Group (BT.A) 124.65p -2.62%
Halma (HLMA) 2,383.00p -1.65%
British Land Company (BLND) 472.30p -1.62%
Kingfisher (KGF) 286.90p -1.51%
Imperial Brands (IMB) 1,482.50p -1.50%
Tesco (TSCO) 232.60p -1.48%

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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.