FTSE 100 movers: Smith & Nephew surges on results; supermarkets fall

(Sharecast News) - London's FTSE 100 was up 0.3% at 9,156.46 in afternoon trade on Tuesday. Smith & Nephew rocketed to the top of the index as the medical technology company hailed a strong first half, backed its full-year guidance and announced a $500m share buyback.

Fresnillo shot higher as the precious metals miner said first-half EBITDA jumped 102% to $1.1bn, driven by favourable metals prices and a "consistent" operational performance.

Drinks company Diageo fizzed higher even as it reported a 27.8% drop in full-year operating profit to $4.34bn.

Richard Hunter, head of markets at Interactive Investor, said: "There was some slightly better news in terms of net sales, where a fall of just 0,1% was reported to $20.25 billion, in line with expectations. Organic net sales growth of 1.7% comprised a gain of 0.9% for volumes and 0.8% by price, demonstrating that the group retains the ability to raise prices as a potential lever."

Oil giant BP gushed higher as it posted better-than-expected second-quarter earnings and raised its dividend as it announced a review of its assets amid calls from investors to boost returns.

Underlying replacement cost profit - its preferred measure of net income - came in at $2.35bn for the three months to 30 June, down from $2.76bn last year but beating the consensus $1.81bn forecast by analysts.

Supermarkets were in the red, with Tesco and Sainsbury's among the fallers.

FTSE 100 - Risers

Smith & Nephew (SN.) 1,327.50p 15.03% Fresnillo (FRES) 1,529.00p 6.62% Melrose Industries (MRO) 571.20p 4.20% Diageo (DGE) 1,877.00p 3.42% London Stock Exchange Group (LSEG) 9,842.00p 2.14% Mondi (MNDI) 1,057.00p 2.03% Informa (INF) 886.60p 1.88% Croda International (CRDA) 2,633.00p 1.66% IMI (IMI) 2,184.00p 1.58% BP (BP.) 412.30p 1.54%

FTSE 100 - Fallers

Haleon (HLN) 350.40p -1.52% 3i Group (III) 4,053.00p -1.46% Tesco (TSCO) 419.10p -1.46% Sainsbury (J) (SBRY) 294.80p -1.27% Centrica (CNA) 164.20p -1.08% Lloyds Banking Group (LLOY) 81.76p -0.97% Relx plc (REL) 3,871.00p -0.85% Games Workshop Group (GAW) 16,230.00p -0.67% Admiral Group (ADM) 3,440.00p -0.58% National Grid (NG.) 1,082.50p -0.46%