FTSE 100 movers: Kingfisher jumps on results; Compass loses its way

London’s FTSE 100 was up 0.3% at 8,299.91 in afternoon trade on Tuesday.

B&Q and Castorama owner Kingfisher surged to the top of the index after it lifted the lower end of full-year profit guidance as it posted interim results in line with expectations.

The company now expects adjusted pre-tax profit of £510m to £550m, up from £490m to £550m. Pre-tax profit for the six months to 31 July rose 2.3% to £324m.

EasyJet and IAG flew higher after Ryanair chief executive Michael O’Leary told Reuters that the airline has seen better bookings momentum since August.

British American Tobacco dipped as it announced a number of leadership changes aimed at accelerating its strategy to build a smokeless future and enhance sustainability. The tobacco giant said that effective immediately, Kingsley Wheaton had been appointed to the newly-created position of chief corporate officer.

Compass Group edged lower after RBC Capital Markets downgraded shares of the caterer to ‘sector perform’ from ‘outperform’ as they are now trading ahead of its unchanged price target of 2,400p.

"We continue to like CPG as a good all-weather stock with structural growth characteristics and a demonstrably defensive earnings profile," it said. "However, as shares are now trading ahead of both our unchanged PT and their 10-year adjusted price-to-earnings average, we see a slower burn from here and lower our rating."

FTSE 100 - Risers

Kingfisher (KGF) 315.60p 8.72%
easyJet (EZJ) 515.20p 5.73%
JD Sports Fashion (JD.) 159.65p 3.47%
International Consolidated Airlines Group SA (CDI) (IAG) 206.20p 3.31%
Smurfit Westrock (DI) (SWR) 3,547.00p 2.96%
Smith (DS) (SMDS) 480.40p 2.69%
Mondi (MNDI) 1,439.00p 2.60%
Croda International (CRDA) 4,054.00p 2.35%
Prudential (PRU) 629.40p 2.34%
Burberry Group (BRBY) 600.40p 2.32%

FTSE 100 - Fallers

BAE Systems (BA.) 1,294.00p -3.11%
British American Tobacco (BATS) 2,927.00p -1.45%
Smith & Nephew (SN.) 1,174.00p -1.34%
Pearson (PSON) 1,049.00p -0.80%
SEGRO (SGRO) 897.80p -0.73%
Hikma Pharmaceuticals (HIK) 1,939.00p -0.72%
Imperial Brands (IMB) 2,225.00p -0.71%
Unilever (ULVR) 4,917.00p -0.67%
GSK (GSK) 1,624.00p -0.49%
Compass Group (CPG) 2,449.00p -0.45%