FTSE 100 movers: ICG slides; Smiths Group up on results

13th Nov 2024 15:15

(Sharecast News) - London's FTSE 100 was down 0.3% at 8,005.49 in afternoon trade on Wednesday.

Smiths Group was the standout gainer on the index as it raised its growth and margin guidance and beefed up its share buyback programme after an "outstanding" first quarter.

Flutter Entertainment was also in the black as the Betfair owner lifted its full-year revenue and EBITDA guidance and posted a narrowing of its net losses.

In the three months to the end of September, net losses narrowed to $114m from $262m in the same period a year earlier, while adjusted earnings before interest, tax, depreciation and amortisation rose 74% to $450m.

Revenue was 27% higher at $3.25bn and average monthly players were up 16% at 12.9m.

US revenue grew 51% to $1.25bn. Flutter said a strong start to NFL season was driven by new product launches and favourable Q3 sports results combined with continued iGaming strength.

In the UK, meanwhile, revenue was 18% higher at $846m.

Flutter lifted its guidance for full-year revenue and adjusted EBITDA by 1% to reflect a "strong" group ex-US performance in Q3. It said "excellent" US momentum in the third quarter had subsequently been more than offset by unfavourable sports results in the fourth quarter to date.

Intermediate Capital Group was under the cosh as it said group pre-tax profit fell 21% in the first half to £162.7m.

Credit-checking firm Experian was also weaker after first-half results, even as it lifted its full-year margin outlook.

FTSE 100 - Risers

Smiths Group (SMIN) 1,687.00p 10.84%

Flutter Entertainment (DI) (FLTR) 20,470.00p 6.23%

Fresnillo (FRES) 637.50p 2.33%

Standard Chartered (STAN) 940.00p 1.80%

AstraZeneca (AZN) 10,162.00p 1.72%

Vodafone Group (VOD) 68.08p 1.58%

Diploma (DPLM) 4,588.00p 1.55%

Vistry Group (VTY) 722.00p 1.19%

Lloyds Banking Group (LLOY) 54.48p 1.15%

Scottish Mortgage Inv Trust (SMT) 936.60p 1.12%

FTSE 100 - Fallers

Intermediate Capital Group (ICG) 2,104.00p -6.07%

Experian (EXPN) 3,736.00p -3.26%

BAE Systems (BA.) 1,341.00p -2.93%

3i Group (III) 3,304.00p -2.71%

Whitbread (WTB) 2,907.00p -2.68%

Land Securities Group (LAND) 570.50p -2.56%

DCC (CDI) (DCC) 5,525.00p -2.56%

SEGRO (SGRO) 759.20p -2.27%

Spirax Group (SPX) 6,390.00p -2.14%

Rightmove (RMV) 594.60p -2.14%