FTSE 100 movers: Water firms gush higher; DCC in the red

11th Jul 2024 14:49

(Sharecast News) - London's FTSE 100 was up 0.3% at 8,219.41 in afternoon trade on Thursday.

Severn Trent and United Utilities both gained after regulator Ofwat outlined draft determinations regarding the industry's five-year investment plans.

Severn Trent noted that the regulator had categorised its business plans as "outstanding".

Severn was in also in focus as it hailed a strong financial performance over its first quarter and said it continues to expect to hit guidance.

Severn Trent expects to deliver a net Outcome Delivery Incentive (ODI) reward - a measure used by Ofwat to monitor its performance - of more than £100m pre-customer-sharing in 2017/18 prices.

"This would bring our total net ODI reward in AMP7 to around £420m in nominal prices, reflecting consistent sector-leading performance for customers," it said.

On the downside, international sales, marketing and support services group DCC fell as it reported a "modest" improvement in first-quarter operating profit.

It also announced completion of the sale of its majority stake in Hong Kong & Macau Liquid gas business to CPL.

FTSE 100 - Risers

Severn Trent (SVT) 2,745.00p 4.89%

United Utilities Group (UU.) 1,110.50p 4.17%

Fresnillo (FRES) 625.50p 2.88%

CRH (CDI) (CRH) 6,054.00p 2.75%

Kingfisher (KGF) 267.90p 2.02%

easyJet (EZJ) 487.60p 1.94%

Rightmove (RMV) 550.60p 1.81%

Sainsbury (J) (SBRY) 265.40p 1.76%

Convatec Group (CTEC) 246.00p 1.74%

Schroders (SDR) 383.00p 1.65%

FTSE 100 - Fallers

DCC (CDI) (DCC) 5,540.00p -2.64%

Vodafone Group (VOD) 70.94p -2.07%

Airtel Africa (AAF) 117.70p -1.51%

Beazley (BEZ) 673.00p -1.17%

Coca-Cola HBC AG (CDI) (CCH) 2,670.00p -1.11%

BP (BP.) 450.55p -0.90%

International Consolidated Airlines Group SA (CDI) (IAG) 176.45p -0.87%

Relx plc (REL) 3,565.00p -0.83%

Smith & Nephew (SN.) 1,084.00p -0.73%

Shell (SHEL) 2,815.00p -0.64%