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FTSE 100 movers: Reckitt rallies but Micro Focus slumps again
London's FTSE 100 was down 1.6% to 6,925.83 in afternoon on Thursday trade as investors digested the latest policy announcement from the Bank of England.
Consumer goods giant Reckitt Benckiser rallied after saying it has ended discussions with Pfizer about buying part of the US company's consumer healthcare business. The company said it did not want to buy the whole business and that it was not possible to buy part of the division.
Just Eat was higher as Goldman Sachs said it was sticking with its 'buy' rating on the stock and keeping it on the Conviction List.
"Despite downgrades to estimates post recent management guidance, we continue to see Just Eat growing top line and EBITDA at a more than 20% compound annual growth over the next three years, leaving valuation favourable versus European peers."
High street clothing giant Next was a touch higher ahead of its results on Friday. Having endured a rollercoaster past two years, the company has guided to profit before tax in a £718-732m range, giving a mid-point of £725m that would represent an 8% fall from the £790.2m a year ago.
"If all goes to plan the group expects to deliver £300m of spare cash next year, which it has suggested could be spent on a buyback," said George Salmon at Hargreaves Lansdown. "However, retail still accounts for a huge slice of sales, and with conditions remaining tough, it's likely to be far from plain sailing."
Micro Focus was in the doldrums again following its profit warning at the start of the week, while health and safety technology group Halma fell after saying that profits for the year to 31 March would be in line with current market forecasts as growth continued in the second half.
Rio Tinto dropped as it agreed to sell its 75% interest in the Winchester South coal development project in Queensland, Australia, to Whitehaven Coal Limited for $200m.
Schroders, Segro and Randgold Resources were all weaker as their stock went ex-dividend.
FTSE 100 - Risers
Reckitt Benckiser Group (RB.) 5,902.00p 4.91%
Coca-Cola HBC AG (CDI) (CCH) 2,486.00p 1.51%
Evraz (EVR) 437.60p 1.23%
Old Mutual (OML) 247.50p 1.19%
Just Eat (JE.) 714.00p 1.08%
London Stock Exchange Group (LSE) 4,189.00p 0.94%
Carnival (CCL) 4,708.00p 0.88%
Smurfit Kappa Group (SKG) 3,016.00p 0.73%
ITV (ITV) 143.80p 0.63%
Next (NXT) 4,638.00p 0.19%
FTSE 100 - Fallers
Micro Focus International (MCRO) 911.60p -6.27%
Glencore (GLEN) 358.75p -3.34%
Schroders (SDR) 3,273.00p -3.34%
Kingfisher (KGF) 292.20p -3.12%
Rio Tinto (RIO) 3,600.50p -3.08%
Smith (DS) (SMDS) 475.20p -2.80%
Halma (HLMA) 1,152.00p -2.70%
SEGRO (SGRO) 593.60p -2.69%
Standard Chartered (STAN) 727.20p -2.66%
Randgold Resources Ltd. (RRS) 5,748.00p -2.64%