FTSE 100 movers: Ithaca rallies on acquisition; IG Group falls again

(Sharecast News) - London's FTSE 100 was flat at 10,458.55 in afternoon trade on Monday. Ithaca Energy was the standout performer on the index after agreeing with Suncor to buy a portfolio of conventional offshore oil assets located in shallow waters off the East Coast of Newfoundland and Labrador, Canada, for up to $1.1bn.

Metlen Energy & Metals rose after it signed a long-term commercial agreement with an unnamed Japanese chemical company for the future supply of gallium, representing up to 16% of total production from its facility in Greece, which is currently under construction.

BT Group gained after saying it has bought TalkTalk out of administration on a debt-free basis. BT estimated the total cash impact of the acquisition in FY27 at around £400m, comprising consideration, transaction and administration costs, working capital impacts as well as a trading loss of approximately £60m and non-receipt of circa £100m otherwise due to Openreach.

The company said it recognised the risk to the country, "and especially vulnerable customers and key public services, should the company collapse". As a result, it approached the directors of TalkTalk and offered to step in immediately, in the public interest, "to protect customers and critical national infrastructure".

Miners were on the rise, with Anglo American, Rio Tinto and Antofagasta all up as copper prices gained.

On the downside, IG Group was under the cosh again, having tumbled on Friday after the online trading platform warned that a tough third quarter had hit annual revenues.

FTSE 100 - Risers

Ithaca Energy (ITH) 282.30p 2.69% Metlen Energy & Metals (MTLN) 49.62p 2.06% Anglo American (AAL) 4,166.00p 1.73% Rio Tinto (RIO) 7,164.00p 1.62% Haleon (HLN) 332.80p 1.46% BT Group (BT.A) 199.15p 1.45% Antofagasta (ANTO) 3,861.00p 1.45% Fresnillo (FRES) 2,738.00p 1.45% Standard Chartered (STAN) 2,218.00p 1.42% Glencore (GLEN) 568.00p 1.21%

FTSE 100 - Fallers

3i Group (III) 2,426.00p -5.09% IG Group Holdings (IGG) 966.00p -2.37% Balfour Beatty (BBY) 919.50p -1.97% Halma (HLMA) 3,532.00p -1.83% Barratt Redrow (BTRW) 312.80p -1.82% International Consolidated Airlines Group SA (CDI) (IAG) 434.80p -1.36% Whitbread (WTB) 2,412.00p -1.07% Next (NXT) 14,225.00p -0.97% Burberry Group (BRBY) 998.20p -0.94% Centrica (CNA) 148.05p -0.64%