FTSE 100 movers: Next rallies on guidance upgrade; miners in the red
Sharecast
Published Jun 19, 2023 13:50
FTSE 100 movers: Next rallies on guidance upgrade; miners in the red
Sharecast - Antofagasta (LON:ANTO) and Anglo American (LON:AAL) lost ground as miners were hit by worries about China’s growth outlook.
On the upside, Next (LON:NXT) surged after the retailer upgraded its full-year sales and profit guidance following much better-than-expected trading in the last seven weeks, pointing to warmer weather and the impact of pay rises.
The company lifted its full-price sales guidance by £137m and its profit guidance by £40m to £835m.
In an unscheduled trading update, Next said full price sales in the first seven weeks of the second quarter were up 9.3% versus last year, versus guidance for a 5% decline. The group said that during the period, it has beaten its full price sales estimates by £93m.
Next put its outperformance down to a change to warmer weather, which it said has made a "significant difference", particularly coming after a wet and cold April.
Primark owner AB Foods also rallied, along with JD Sports and Frasers Group.
Elsewhere, Ladbrokes owner Entain (LON:ENT) was boosted by an upgrade to ‘buy’ at Redburn.
FTSE 100 - Risers
Next (NXT) 6,722.00p 4.41%
Associated British Foods (LON:ABF) 2,002.00p 3.97%
JD Sports Fashion (JD.) 152.15p 2.05%
Frasers Group (FRAS) 710.00p 1.87%
Entain (ENT) 1,242.00p 1.72%
Standard Chartered (LON:STAN) 686.20p 1.63%
Rolls-Royce Holdings (LON:RR.) 153.05p 1.22%
Flutter Entertainment (CDI) (FLTR) 16,070.00p 0.78%
Shell (LON:RDSa) (SHEL) 2,352.50p 0.71%
United Utilities Group (UU.) 1,046.50p 0.63%
FTSE 100 - Fallers
Spirax-Sarco Engineering (SPX) 10,605.00p -4.59%
Ocado Group (LON:OCDO) 446.30p -3.38%
Johnson Matthey (LON:JMAT) 1,701.50p -2.21%
Hargreaves Lansdown (LON:HRGV) (HL.) 805.20p -2.02%
Antofagasta (ANTO) 1,518.50p -2.00%
Anglo American (AAL) 2,495.50p -1.94%
Experian (EXPN) 2,930.00p -1.84%
Endeavour Mining (EDV (LON:EDV)) 1,987.00p -1.83%
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Taylor Wimpey (LON:TW.) 107.95p -1.77%
Schroders (LON:SDR) 446.40p -1.70%
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Written By: Sharecast
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