FTSE 100 movers: Scottish Mortgage boosted by SpaceX news; defence firms fall

(Sharecast News) - London's FTSE 100 was down 0.6% at 10,378.47 in afternoon trade on Tuesday. Miniature wargames manufacturer Games Workshop was the standout gainer on the index.

Shares in Scottish Mortgage Investment Trust rallied after Reuters reported that SpaceX - in which it has a significant holding - is preparing to launch its initial public offering roadshow in early June as it moves closer to what could become the largest IPO on record.

The Elon Musk-led rocket and space technology company reportedly told its banking syndicate that it plans to raise around $75bn, implying a valuation of up to $1.75trn. The roadshow was expected to begin in the week of 8 June, with roughly 125 analysts from 21 participating banks scheduled to meet management ahead of the investor presentations.

According to Reuters, a defining feature of the offering would be an unusually large allocation of shares to retail investors.

Metlen Energy & Metals was also in the black ahead of full-year results on Thursday.

On the downside, defence firms and pharmaceuticals fell, with Rolls-Royce, Melrose, Babcock, BAE Systems, AstraZeneca and GSK all weaker.

FTSE 100 - Risers

Games Workshop Group (GAW) 18,270.00p 3.68% Berkeley Group Holdings (The) (BKG) 3,256.00p 2.71% Airtel Africa (AAF) 362.40p 2.60% Scottish Mortgage Inv Trust (SMT) 1,298.50p 2.44% Imperial Brands (IMB) 3,149.00p 2.13% Pearson (PSON) 1,028.00p 1.83% Smurfit Westrock (DI) (SWR) 2,991.00p 1.70% Admiral Group (ADM) 3,263.00p 1.43% Whitbread (WTB) 2,424.00p 1.21% Metlen Energy & Metals (MTLN) 33.77p 1.17%

FTSE 100 - Fallers

Rolls-Royce Holdings (RR.) 1,150.80p -3.16% Babcock International Group (BAB) 1,236.00p -3.10% Melrose Industries (MRO) 516.60p -2.42% AstraZeneca (AZN) 15,068.00p -1.70% 3i Group (III) 2,651.00p -1.54% GSK (GSK) 2,116.00p -1.45% Compass Group 11 (CPG) 28.77p -1.34% Burberry Group (BRBY) 1,081.00p -1.19% Standard Chartered (STAN) 1,574.00p -1.16% SSE (SSE) 2,699.00p -1.15%