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02 Dec, 2020 15:26 02 Dec, 2020 15:28

FTSE 100 movers: LSE surges; housebuilders retreat

builder housebuilding bricklayers persimmon

London’s FTSE 100 was up 1% at 6,447.58 in afternoon trade on Wednesday.

London Stock Exchange shares surged to the top of the index after a report that EU antitrust regulators are set to clear its $27bn (£20.2bn) purchase of data analytics company Refinitiv.

According to Reuters, clearance will be given after LSE adjusted concessions to address competition concerns.

On the downside, housebuilders retreated amid worries about a potential no-deal Brexit, having rallied a day earlier after solid house price data from mortgage lender Nationwide. Berkeley, Persimmon and Taylor Wimpey were all weaker.

Sainsbury’s and Morrisons were also under the cosh after rival supermarket retailer Tesco said it would repay £585m of Covid-19 business rates relief to the UK after Britain's supermarkets came under pressure to return the money. The supermarket chain said it had used all the money to respond to the pandemic but that its business had proved resilient.

The company's move will put pressure on Sainsbury's, Morrisons and other supermarkets that have paid dividends during the crisis to repay business rates relief.

FTSE 100 - Risers

London Stock Exchange Group (LSE) 8,642.00p 8.16%
BHP Group (BHP) 1,823.20p 3.77%
Associated British Foods (ABF) 2,252.00p 3.45%
Rio Tinto (RIO) 5,157.00p 3.19%
Imperial Brands (IMB) 1,417.50p 2.87%
Hikma Pharmaceuticals (HIK) 2,551.00p 2.82%
Coca-Cola HBC AG (CDI) (CCH) 2,243.00p 2.70%
BP (BP.) 261.80p 2.65%
Compass Group (CPG) 1,436.50p 2.50%
HSBC Holdings (HSBA) 415.75p 2.38%

FTSE 100 - Fallers

Berkeley Group Holdings (The) (BKG) 4,748.00p -2.88%
Kingfisher (KGF) 274.20p -2.70%
Persimmon (PSN) 2,765.00p -2.61%
Sainsbury (J) (SBRY) 210.50p -2.59%
Taylor Wimpey (TW.) 161.95p -2.47%
Avast (AVST) 474.40p -2.23%
Morrison (Wm) Supermarkets (MRW) 178.80p -2.19%
Tesco (TSCO) 224.30p -2.01%
Rightmove (RMV) 633.60p -1.83%
B&M European Value Retail S.A. (DI) (BME) 480.40p -1.70%

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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.