FTSE 100 movers: Healthy Hikma boosts index; house builders under pressure
Hikma Pharmaceuticals provided a tonic for the main share index on Wednesday, with shares in the company up 7% after it reported lower profits but better sales and hiked the dividend.
On revenue up 39% to $1.95bn over the calendar year, the FTSE 100 drug maker generated statutory operating profits of $302m, which were down 21% on the previous year, though excluding exceptional items like acquisition costs, goodwill amortisation and inventory adjustments, core operating profits were up 2% to $419m.
Profits before tax fell 34% to $210m but core profits were boosted by strong growth in injectables and branded drugs, which was offset by a decline at the generics business as it integrated last February's $1.7bn acquisition of specialty generics company West-Ward Columbus and more than doubled its investment in research and development across the group.
Glencore was boosted by an upgrade to ‘buy’ from ‘neutral’ by Goldman Sachs, with positive sector comments from the market-moving investment bank boosting sentiment alongside firmer iron ore and copper prices that would also help the likes of Rio Tinto, Antofagasta and Anglo American.
On the downside, housebuilders Persimmon, Taylor Wimpey and Barratt Developments were under pressure after the Royal Institution of Chartered Surveyors said Britain’s construction industry could lose around 200,000 workers from the EU if it doesn’t retain its access to the single market.
FTSE 100 - Risers
Hikma Pharmaceuticals (HIK) 2,275.00p 7.01%
Antofagasta (ANTO) 808.50p 2.54%
Glencore (GLEN) 323.60p 2.39%
Morrison (Wm) Supermarkets (MRW) 239.90p 2.09%
Babcock International Group (BAB) 912.50p 2.07%
Wolseley (WOS) 5,135.00p 1.78%
Capita (CPI) 575.00p 1.50%
Rio Tinto (RIO) 3,363.00p 1.45%
Anglo American (AAL) 1,195.50p 1.31%
Fresnillo (FRES) 1,459.00p 1.11%
FTSE 100 - Fallers
Randgold Resources Ltd. (RRS) 6,945.00p -1.28%
Old Mutual (OML) 222.90p -1.15%
Sage Group (SGE) 639.00p -1.08%
3i Group (III) 725.00p -0.89%
TUI AG Reg Shs (DI) (TUI) 1,146.00p -0.87%
Smurfit Kappa Group (SKG) 2,165.00p -0.82%
Unilever (ULVR) 4,010.00p -0.79%
Kingfisher (KGF) 338.40p -0.79%
Next (NXT) 3,901.00p -0.71%
Informa (INF) 647.00p -0.69%