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14 Jan, 2022 14:40

FTSE 100 movers: B&M slumps; banks on the rise

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B&M BargainsCompany photo / B&M European Value Retail

London’s FTSE 100 was down 0.2% at 7,546.09 in afternoon trade on Friday.

Discount retailer B&M European Value Retail was under the cosh after SSA Investments sold 40m shares in the company - a 4% stake - in a placing. The shares were sold at 585p each, raising gross proceeds of £234m.

Following settlement of the placing, which is expected to take place on 18 January, SSA will hold a stake of around 7.0% in B&M.

SSA is controlled by brothers Simon and Bobby Arora, B&M’s chief executive and trading director, respectively.

Royal Mail slumped after JPMorgan put the stock on its 'Negative Catalyst Watch' ahead of earnings in February.

Going the other way, banks were on the rise, with Standard Chartered and Lloyds both higher.

FTSE 100 - Risers

Standard Chartered (STAN) 519.60p 1.60%
National Grid (NG.) 1,082.00p 1.44%
British American Tobacco (BATS) 3,010.00p 1.18%
Severn Trent (SVT) 2,880.00p 1.02%
BT Group (BT.A) 179.95p 1.01%
British Land Company (BLND) 547.00p 1.00%
3i Group (III) 1,421.00p 0.96%
Land Securities Group (LAND) 784.80p 0.90%
Lloyds Banking Group (LLOY) 54.45p 0.89%
Hikma Pharmaceuticals (HIK) 2,077.00p 0.78%

FTSE 100 - Fallers

Royal Mail (RMG) 497.60p -5.44%
B&M European Value Retail S.A. (DI) (BME) 566.80p -4.99%
Evraz (EVR) 579.00p -4.20%
Ocado Group (OCDO) 1,456.00p -4.15%
Scottish Mortgage Inv Trust (SMT) 1,135.50p -3.81%
Antofagasta (ANTO) 1,391.00p -3.07%
Halma (HLMA) 2,697.00p -2.99%
Electrocomponents (ECM) 1,110.00p -2.97%
Kingfisher (KGF) 331.00p -2.93%
Polymetal International (POLY) 1,162.50p -2.92%


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Important Legal Notice about News Sources

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 or publisher.

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.