FTSE 100 movers: Ashtead jumps after results; Bunzl hit by downgrade

(Sharecast News) - London's FTSE 100 was down 0.4% at 8,839.31 in afternoon trade on Tuesday. Ashtead was the top riser after the equipment rental firm's results.

Russ Mould, investment director at AJ Bell, said: "A second consecutive drop in annual profits and a planned second cut in capital expenditure in new equipment from Ashtead both suggest the economic outlook is not as clear as many would like to think, especially in the company's core market of America.

"Even so, the kit hire specialist is hiking its dividend for the year to April 2025 to maintain a growth streak in its annual shareholder distribution that now runs for twenty years and keep its status as one of just seventeen FTSE 100 index members to have a run of at least ten straight increases."

Oil majors BP and Shell gushed higher as oil prices rose amid Middle East tensions, but British Airways and Iberia owner IAG and easyJet both flew lower amid the prospect of higher fuel costs.

Distribution and outsourcing firm Bunzl lost ground after a downgrade to 'sector perform' by RBC Capital Markets.

Market Movers

FTSE 100 (UKX) 8,838.02 -0.42% FTSE 250 (MCX) 21,217.51 -0.31% techMARK (TASX) 5,068.85 -0.59%

FTSE 100 - Risers

Ashtead Group (AHT) 4,534.00p 3.47% BP (BP.) 390.30p 1.99% Shell (SHEL) 2,664.00p 1.47% BT Group (BT.A) 187.15p 1.16% RELX FINANCE BV 3.375% GTD NTS 20/03/33 (BW73) 99.72p 1.10% Unite Group (UTG) 842.50p 1.02% Rolls-Royce Holdings (RR.) 894.20p 0.99% LondonMetric Property (LMP) 200.80p 0.85% Fresnillo (FRES) 1,424.00p 0.49% Beazley (BEZ) 934.00p 0.48%

FTSE 100 - Fallers

International Consolidated Airlines Group SA (CDI) (IAG) 313.60p -4.19% Bunzl (BNZL) 2,230.00p -3.13% Entain (ENT) 841.40p -2.84% WPP (WPP) 531.60p -2.67% easyJet (EZJ) 538.00p -2.32% Lloyds Banking Group (LLOY) 75.84p -1.71% London Stock Exchange Group (LSEG) 10,930.00p -1.62% Glencore (GLEN) 286.95p -1.61% Standard Chartered (STAN) 1,162.50p -1.48% Coca-Cola HBC AG (CDI) (CCH) 3,860.00p -1.48%