FTSE 100 movers: GSK surges on guidance; DCC in the red

(Sharecast News) - London's FTSE 100 was up 0.4% at 8,604.03 in afternoon trade on Wednesday. Pharma giant GSK surged to the top of the index as it missed forecasts slightly with its annual results, but raised its guidance for long-term growth and announced plans to buy back £2bn of stock over the next 18 months.

Sales in 2024 increased by 3% to £31.38bn, slightly short of the £32bn expected by analysts, while core earnings per share rose 3% to 159.3p, missing the 163.9p consensus estimate.

However, due to progress in its late-stage drug pipeline, GSK upped its 2031 sales outlook to more than £40bn, from £38bn previously.

Precious metals miner Fresnillo shone as gold prices hit a record high and as JPMorgan lifted its price target and said it was its 'top pick' among the EMEA gold miners.

On the downside, Spirax was hit by a downgrade to 'hold' at HSBC.

Sales, marketing and support services group DCC lost ground as it said operating profit in its technology segment declined in the third quarter due to a weak market for consumer technology products in the UK and Europe over the holiday season.

FTSE 100 - Risers

GSK (GSK) 1,466.50p 6.27% Fresnillo (FRES) 752.50p 5.47% Flutter Entertainment (DI) (FLTR) 21,380.00p 2.44% BT Group (BT.A) 145.05p 2.26% Tesco (TSCO) 385.00p 2.01% Beazley (BEZ) 831.50p 1.71% Phoenix Group Holdings (PHNX) 516.00p 1.57% British American Tobacco (BATS) 3,269.00p 1.52% Sainsbury (J) (SBRY) 261.00p 1.48% LondonMetric Property (LMP) 185.90p 1.47%

FTSE 100 - Fallers

Spirax Group (SPX) 7,650.00p -3.65% Croda International (CRDA) 3,107.00p -3.30% DCC (CDI) (DCC) 5,330.00p -3.00% Diageo (DGE) 2,264.00p -2.73% Convatec Group (CTEC) 234.00p -2.01% Diploma (DPLM) 4,482.00p -1.54% Anglo American (AAL) 2,309.50p -1.41% Whitbread (WTB) 2,734.00p -1.30% Prudential (PRU) 659.40p -1.29% JD Sports Fashion (JD.) 83.58p -1.25%