FTSE 100 movers: Hikma surges on new guidance; BP, Shell gush lower
London’s FTSE 100 was up 0.2% at 8,599.31 in afternoon trade on Thursday.
Shares in Hikma Pharmaceuticals surged to the top of the index as investors welcomed new medium-term guidance from the company.
Alongside a sell-side analysts and investors even at its manufacturing and R&D facility in Columbus, Ohio, the pharmaceuticals firm said that for group revenue, it now expects a three-year compound annual growth rate of 6% to 8% between 2024 and 2027.
For operating profit, it expects a three-year compound annual growth rate of 7% to 9%.
In addition, Hikma said it was introducing a five-year target for group revenue to reach $5bn by 2030.
JD Sports gained following a report that US peer Dick’s Sporting Goods is nearing a deal to buy Foot Locker for around $2.3bn.
Aviva gained as the insurer said it was confident in achieving its group targets after a "great start" to 2025, with premiums rising by almost a tenth.
Sage Group slumped even as the enterprise software firm extended its share buyback plan by £200m after a strong first half.
3i Group fell sharply as its full-year total return of £5bn missed market expectations.
Oil giants BP and Shell gushed lower as oil prices slid. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Falling oil prices have put pressure on listed energy giants, as concerns about oversupply in the market swirl. Brent Crude has ticked down by more than 3% to trade below $64 a barrel.
"Just as traders were processing data that showed a big surge in US crude stockpiles, the potential for a US-Iran deal is increasing forecasts of a glut in global oil supplies."
FTSE 100 - Risers
Hikma Pharmaceuticals (HIK) 2,056.00p 5.92%
JD Sports Fashion (JD.) 93.28p 3.62%
National Grid (NG.) 1,050.50p 3.45%
Aviva (AV.) 590.20p 3.18%
Compass Group (CPG) 2,618.00p 3.07%
International Consolidated Airlines Group SA (CDI) (IAG) 325.50p 2.91%
Vodafone Group (VOD) 69.94p 2.34%
Smurfit Westrock (DI) (SWR) 3,510.00p 2.33%
Beazley (BEZ) 911.00p 2.02%
BAE Systems (BA.) 1,735.00p 2.00%
FTSE 100 - Fallers
The Sage Group (SGE) 1,220.00p -4.65%
3i Group (III) 4,061.00p -3.24%
BP (BP.) 369.40p -3.04%
Admiral Group (ADM) 3,240.00p -2.88%
St James's Place (STJ) 1,071.00p -2.33%
InterContinental Hotels Group (IHG) 9,058.00p -2.08%
Shell (SHEL) 2,466.00p -1.93%
WPP (WPP) 596.80p -1.91%
DCC (CDI) (DCC) 4,716.00p -1.87%
CRH (CDI) (CRH) 7,246.00p -1.82%