FTSE 100 movers: Halma rallies; JD Sports slumps on profit warning

(Sharecast News) - London's FTSE 100 was up 0.6% at 8,133.60 in afternoon trade on Thursday. Halma was the standout gainer on the index as the safety equipment and hazard detection products group raised its interim dividend by 7% after a record first-half performance which saw sales top the £1bn mark. It also retained its guidance for the full year.

JD Sports tumbled as the retailer warned full-year profits would be at the lower end of forecasts after a "volatile" trading environment in October due to bigger discounts, milder weather and consumer caution ahead of the US election.

Russ Mould, investment director at AJ Bell, said: "JD Sports had been on course to join UK retail's exclusive £1 billion profit club but its latest update suggests it might just be left loitering on its fringes.

"The company says profit will be at the lower end of the guided range thanks, in part, to trading volatility around the US election - although just how much uncertainty over the presidential race would affect demand for trainers and sportswear seems open to question.

"It certainly wouldn't explain why like-for-like sales fell more in the UK than North America, with few British shoppers likely to be hanging their spending decisions on what happened on 5 November. However, the focus on the US shows just how important this part of the world is to JD.

"Weather is also pointed to as a culprit, and while blaming the weather is never a great look, milder conditions in October would have affected demand for higher ticket items like puffer jackets.

"The company has exercised some discipline - evident in a modest increase in the gross margin - and this decision may pay off in the longer term.

"European sales were also a bright spot and the company should soon complete its acquisition of French franchise Courir, having cleared regulatory hurdles. This will not only boost JD's footprint on the continent but may also increase its foothold among women given Courir's skew."

Frasers Group fell after it wrote an open letter to Boohoo calling for a vote to dismiss co-founder Mahmud Kamani and for him to be replaced by Mike Ashley.

Vodafone, National Grid and DCC all fell as they traded without entitlement to the dividend.

FTSE 100 - Risers

Halma (HLMA) 2,671.00p 6.75% Smurfit Westrock (DI) (SWR) 4,358.00p 3.71% Rolls-Royce Holdings (RR.) 539.20p 2.47% Centrica (CNA) 123.15p 2.28% Marks & Spencer Group (MKS) 370.60p 2.09% Beazley (BEZ) 764.50p 2.07% BP (BP.) 387.90p 1.66% Diploma (DPLM) 4,192.00p 1.65% Experian (EXPN) 3,689.00p 1.60% Airtel Africa (AAF) 96.25p 1.37%

FTSE 100 - Fallers

JD Sports Fashion (JD.) 96.48p -14.58% Vodafone Group (VOD) 69.24p -2.81% Melrose Industries (MRO) 489.80p -2.27% Frasers Group (FRAS) 721.50p -2.10% BT Group (BT.A) 147.45p -1.60% Convatec Group (CTEC) 229.40p -1.55% National Grid (NG.) 967.60p -1.53% DCC (CDI) (DCC) 5,545.00p -1.33% British Land Company (BLND) 374.40p -1.27% Croda International (CRDA) 3,464.00p -1.06%