FTSE 100 movers: 3i Group surges on Action update; BP, Shell gush lower

(Sharecast News) - London's FTSE 100 was 0.9% higher at 10,554.87 in afternoon trade on Thursday. 3i Group surged to the top of the index as it said like-for-like sales at Dutch discount retailer Action grew in the year to date, as it gave a brief update on the performance of its largest portfolio holding. As at 21 June, Action's LFL sales growth was 3.3% year to date. In an update in May, 3i had said that Action's LFL sales rose 2.4% in the 19 weeks to 10 May.

3i said new store openings of 105 are on track with Action's expansion plans for 2026. It also said that Action is set for a good quarter of profit growth and had a cash balance of €699m as at 21 June after the payment of a €450m dividend to all shareholders in May.

"The remainder of the private equity portfolio continues to demonstrate good momentum in line with our expectations," it said.

Entain rallied after agreeing agreed to sell a 20% stake in its Central and Eastern Europe business to joint venture partner EMMA Capital for around €425m (£366m) as it kicks off the process of a phased exit.

The consideration comprises €395m (£341m) on completion, and an additional payment in early 2027 to reflect FY26 financial performance.

The Ladbrokes owner said it has decided to pursue an exit from the CEE business, in line with its priority to maximise shareholder value, as it looks to "unlock the value created within Entain's attractive portfolio". The company said it continues to evaluate all strategic options to exit its remaining minority shareholding.

United Utilities and Metlen Energy were under the cosh as they traded without entitlement to the dividend.

BP and Shell gushed lower as oil prices eased back to pre-war levels as shipping through the Strait of Hormuz picked up.

FTSE 100 - Risers

3i Group (III) 2,535.00p 11.61% Entain (ENT) 583.40p 5.52% Abrdn (ABDN) 244.20p 5.52% Barratt Redrow (BTRW) 294.00p 4.95% Antofagasta (ANTO) 3,812.00p 4.47% Anglo American (AAL) 3,742.00p 3.88% Persimmon (PSN) 1,130.50p 3.62% SSE (SSE) 2,419.00p 3.32% JD Sports Fashion (JD.) 87.22p 3.27% Computacenter (CCC) 4,356.00p 2.87%

FTSE 100 - Fallers

BAE Systems (BA.) 1,790.50p -2.00% United Utilities Group (UU.) 1,296.00p -1.96% London Stock Exchange Group (LSEG) 8,102.00p -1.91% Metlen Energy & Metals (MTLN) 40.67p -1.55% BP (BP.) 473.95p -1.21% Smith & Nephew (SN.) 1,144.00p -0.74% Burberry Group (BRBY) 1,077.50p -0.74% Shell (SHEL) 2,921.50p -0.71% IG Group Holdings (IGG) 1,876.00p -0.58% Bunzl (BNZL) 2,660.00p -0.52%