December 8, 2022

FTSE 100 movers: BP gushes lower; travel & leisure shares gain

London’s FTSE 100 was up 0.7{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} at 6,509.01 in afternoon trade on Tuesday. Travel and…

FTSE 100 movers: BP gushes lower; travel & leisure shares gain

London’s FTSE 100 was up 0.7{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} at 6,509.01 in afternoon trade on Tuesday.

Travel and leisure stocks were on the rise, with Premier Inn owner Whitbread, InterContinental Hotels and British Airways owner IAG all higher.

As far as Whitbread and IHG are concerned, CMC Markets analyst Michael Hewson suggested the solid performance was down to growing optimism “that the UK’s vaccination program will bring about an earlier easing of restrictions, which these particular brands will be able to take advantage of in the form of stay-at-home holidays”.

London Stock Exchange was up after Barclays reinstated its ‘overweight’ rating on the shares following the completion of its $27bn Refinitiv acquisition.

“LSE has markedly shifted its financial model with now over 70{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} of revenues arising from the new Data and Analytics division and circa 70{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} of revenues generated on a recurring basis,” Barclays said.

“With the attractive business mix shift combined with the Refinitiv synergies, we forecast 19{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} proforma earnings per share growth 2020-2023e, sharply higher than the global exchanges and more like the Information Providers sector with its greater growth credentials and earnings visibility and commensurately higher valuations (30{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} premium to global exchanges).”

Barclays said these changes are not yet fully reflected at the current valuation.

Precious metals miner Fresnillo lost its shine, having surged on Monday in tandem with silver prices.

BP slid after fourth-quarter profits at the oil giant fell to a worse-than-expected $115m as the coronavirus epidemic battered energy demand. The company reported a full-year loss of $5.7bn after writing down the value of oil and gas assets by $6.5bn in response to lower long-term energy prices forecasts.

FTSE 100 – Risers

Whitbread (WTB) 3,012.00p 5.68{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
InterContinental Hotels Group (IHG) 4,841.00p 5.08{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Informa (INF) 526.20p 4.45{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
International Consolidated Airlines Group SA (CDI) (IAG) 148.65p 4.17{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Melrose Industries (MRO) 176.95p 3.36{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Pershing Square Holdings Ltd NPV (PSH) 2,485.00p 3.33{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
London Stock Exchange Group (LSEG) 9,368.00p 2.95{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Smiths Group (SMIN) 1,496.00p 2.78{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Diageo (DGE) 3,024.00p 2.77{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Intertek Group (ITRK) 5,772.00p 2.70{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}

FTSE 100 – Fallers

Fresnillo (FRES) 1,029.00p -4.37{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Pearson (PSON) 740.20p -3.52{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Anglo American (AAL) 2,425.50p -2.65{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Sainsbury (J) (SBRY) 237.10p -2.15{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Just Eat Takeaway.Com N.V. (CDI) (JET) 8,244.00p -2.02{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
BP (BP.) 261.95p -1.93{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Kingfisher (KGF) 282.30p -1.91{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Glencore (GLEN) 245.40p -1.80{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
United Utilities Group (UU.) 930.80p -1.69{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Morrison (Wm) Supermarkets (MRW) 177.00p -1.58{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}