FTSE 100 movers: Utilities rally; Flutter takes a hit

(Sharecast News) - London's FTSE 100 was up 0.4% at 7,663.94 in afternoon trade on Tuesday. Utilities, which are defensive stocks, were on the rise, with United Utilities, British Gas owner Centrica and Severn Trent all higher.

On the downside, Paddy Power and Betfair owner Flutter Entertainment was the worst performer on the index on news the government is considering a 1% levy on gambling companies that would bring in £100m a year to fund NHS treatment.

Melrose Industries was also weaker despite lifting its adjusted operating margin outlook for 2023, pointing to continued "strong" aftermarket demand in its engines business.

The company now expects operating margins at the unit to hit about 24%, up from 22% projected in May.

FTSE 100 - Risers

Beazley (BEZ) 534.00p 2.01% InterContinental Hotels Group (IHG) 6,138.00p 1.86% AstraZeneca (AZN) 11,158.00p 1.70% Tesco (TSCO) 278.70p 1.60% United Utilities Group (UU.) 1,035.00p 1.57% Centrica (CNA) 158.40p 1.54% Pearson (PSON) 930.20p 1.53% Reckitt Benckiser Group (RKT) 5,896.00p 1.45% Haleon (HLN) 338.40p 1.41% Severn Trent (SVT) 2,551.00p 1.39%

FTSE 100 - Fallers

Flutter Entertainment (CDI) (FLTR) 13,095.00p -2.31% Anglo American (AAL) 2,230.00p -2.28% Melrose Industries (MRO) 467.80p -2.24% Hargreaves Lansdown (HL.) 745.80p -2.10% Spirax-Sarco Engineering (SPX) 8,294.00p -2.05% RS Group (RS1) 709.20p -2.04% Antofagasta (ANTO) 1,381.00p -1.99% BT Group (BT.A) 117.60p -1.96% Prudential (PRU) 883.20p -1.71% Convatec Group (CTEC) 198.80p -1.58%