FTSE 100 movers: Next slides on outlook; miners rally

Thu 29 Sep 2022

LONDON (SHARECAST) - (Sharecast News) - London's FTSE 100 was down 2% at 6,864.28 in afternoon trade on Thursday.
Barratt Developments was the biggest loser on the index as it traded without entitlement to the dividend.

At the same time, housebuilders in general were weaker amid concerns about the impact of higher interest rates.

Next slid after the clothing and homeware retailer cut its sales and profits forecast on the back of the weakening economic outlook, including the recent turmoil in currency markets.

Next now expects full-price second-half sales to be down 1.5% on the previous year, compared to earlier guidance for growth of 1%, while full-year profits forecasts have been trimmed to 840m from 860m.

Miners Anglo American, Glencore, Rio Tinto and Antofagasta were among the top performers.

FTSE 100 - Risers

Anglo American (AAL) 2,800.50p 2.64%
BAE Systems (BA.) 823.40p 1.81%
Fresnillo (FRES) 758.80p 1.39%
Rolls-Royce Holdings (RR.) 67.62p 1.38%
Glencore (GLEN) 486.30p 1.15%
Rio Tinto (RIO) 4,902.00p 0.99%
Admiral Group (ADM) 1,939.50p 0.67%
Haleon (HLN) 279.95p 0.45%
Reckitt Benckiser Group (RKT) 6,094.00p 0.43%
Antofagasta (ANTO) 1,105.50p 0.36%

FTSE 100 - Fallers

Barratt Developments (BDEV) 325.00p -12.33%
Next (NXT) 4,799.00p -9.86%
Ocado Group (OCDO) 482.80p -7.58%
Taylor Wimpey (TW.) 84.68p -6.90%
Smurfit Kappa Group (CDI) (SKG) 2,503.00p -6.85%
Rightmove (RMV) 473.50p -6.35%
Melrose Industries (MRO) 98.88p -5.51%
Whitbread (WTB) 2,313.00p -5.20%
Smith (DS) (SMDS) 248.60p -5.04%
Persimmon (PSN) 1,187.00p -5.04%
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