Portfolio

FTSE 100 movers: Berkeley builds gains; Burberry falls on update

By Michele Maatouk

Date: Wednesday 22 Jan 2020

FTSE 100 movers: Berkeley builds gains; Burberry falls on update

(Sharecast News) - London's FTSE 100 was down 0.4% at 7,582.34 in afternoon trade on Wednesday.
Antofagasta was in the red even as the Chilean copper miner hailed record full-year copper production despite a dip in the fourth quarter due partly to unrest in Chile.

Travel company TUI lost ground, with traders pointing to news that Boeing's 737 MAX is set to remain grounded until mid-2020. The stock was also dented by a downgrade to 'hold' at Stifel.

Burberry was down as it posted a rise in third-quarter sales and lifted its revenue guidance for the year but said sales in Hong Kong were dented by unrest.

Russ Mould, investment director at AJ Bell, said: "The strong run the shares have enjoyed in recent months may have prompted some profit taking and the reminder of how closely the company's fortunes are tied to China may have provoked some nervousness given the deadly virus which is currently afflicting the country. The political disruption in Hong Kong is also having an impact too."

Sainsbury's was also lower after the supermarket chain said retail and operations director Simon Roberts will become chief executive from 1 June, succeeding Mike Coupe.

On the upside, housebuilder Berkeley rallied after saying it will return £1bn to shareholders over the next two years, which is a £455m increase. The company said it will return around £500m to shareholders in March 2020 and a further £500m in March 2021. It also announced plans to increase production and delivery over the next six years by 50%.

Fellow housebuilders Persimmon and Taylor Wimpey also rose.

Software company Sage advanced after it said first-quarter recurring revenue increased 10.7% year on year to £410m, underpinned by software subscription growth of 24.8% to £286m as it continued to focus on migrating existing customers and attracting new customers to subscription and the cloud.

FTSE 100 - Risers

Berkeley Group Holdings (The) (BKG) 5,454.00p 5.17%
Sage Group (SGE) 765.00p 4.22%
London Stock Exchange Group (LSE) 7,924.00p 2.80%
Aveva Group (AVV) 5,140.00p 2.19%
Persimmon (PSN) 3,032.00p 1.85%
Taylor Wimpey (TW.) 217.80p 1.63%
St James's Place (STJ) 1,136.00p 1.43%
SSE (SSE) 1,503.00p 1.38%
Legal & General Group (LGEN) 311.80p 1.37%
Intertek Group (ITRK) 6,000.00p 1.15%

FTSE 100 - Fallers

Antofagasta (ANTO) 910.20p -4.19%
TUI AG Reg Shs (DI) (TUI) 850.80p -3.97%
Burberry Group (BRBY) 2,177.00p -3.80%
NMC Health (NMC) 1,434.50p -3.53%
Sainsbury (J) (SBRY) 207.60p -2.26%
BT Group (BT.A) 175.52p -1.71%
Glencore (GLEN) 234.35p -1.53%
Imperial Brands (IMB) 1,955.20p -1.50%
Evraz (EVR) 397.00p -1.24%
BP (BP.) 484.50p -1.19%

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