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16 Feb 2021 | 14:45

FTSE 100 movers: Glencore gains on results; Compass retreats

(Sharecast News) - London's FTSE 100 was down 0.1% at 6,751.24 in afternoon trade on Tuesday following solid gains in the previous session. Catering group Compass was the worst performer on the index, having rallied on Monday amid recovery hopes.

Going the other way, miner Glencore gained after its full-year adjusted earnings beat expectations and it reinstated its dividend.

CMC Markets analyst David Madden said: "Today's news that it will pay 12 cents to shareholders is a sign the group has turned a corner with respect to the health crisis. It sends out an optimistic signal to the markets, in addition to that, the cash payment won't hurt either.

"Full year adjusted EBITDA was $11.56 billion, essentially flat on the year and it was comfortably above the $10.7 billion consensus estimate. The marketing unit, which houses its trading team, posted a 41% jump in earnings. Strong cash flow in the second half helped net debt fall by 10% to $15.8 billion. It is encouraging to see that debt fell as mining companies like Glencore came under pressure in 2015/16 when they had relatively high levels of debt and commodity prices were falling. There has been growing talk of a commodities super-cycle lately so that should keep the firm is a positive light."

FTSE 100 - Risers

HSBC Holdings (HSBA) 422.40p 2.91% Glencore (GLEN) 289.10p 2.41% Evraz (EVR) 543.40p 1.53% Croda International (CRDA) 6,732.00p 1.48% International Consolidated Airlines Group SA (CDI) (IAG) 161.85p 1.44% Antofagasta (ANTO) 1,610.50p 1.19% Spirax-Sarco Engineering (SPX) 12,020.00p 1.18% London Stock Exchange Group (LSEG) 9,986.00p 1.11% Aveva Group (AVV) 3,934.00p 1.05% B&M European Value Retail S.A. (DI) (BME) 588.20p 1.03%

FTSE 100 - Fallers

Compass Group (CPG) 1,459.00p -2.47% Fresnillo (FRES) 1,000.50p -2.29% Smith (DS) (SMDS) 401.00p -2.15% Informa (INF) 517.00p -2.08% British Land Company (BLND) 464.30p -1.98% SSE (SSE) 1,435.00p -1.91% Vodafone Group (VOD) 133.10p -1.84% Taylor Wimpey (TW.) 165.45p -1.81% Associated British Foods (ABF) 2,306.00p -1.79% JD Sports Fashion (JD.) 830.80p -1.70%

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