FTSE 100 movers: StanChart shares soar on earnings; Sainsbury's lower

(Sharecast News) - The FTSE 100 was up 1.12% at 7,508.92 at 1502 BST.

Asia-focused bank Standard Chartered soared to the top of the index after reporting a better-than-expected 6% rise in first-quarter profit, boosted by rising global interest rates.

Statutory pre-tax profits rose to $1.49bn in the three months to March 31 from $1.4bn a year earlier and compared with the $1bn average estimate compiled by the bank.

Shares in Premier Inn and pub operator Whitbread gained as the company swung to a forecast-beating full-year profit and resumed dividends, but raised guidance on cost inflation as the economic squeeze continued to hit consumers.

It said cost inflation this fiscal year was now expected to hit around 8%-9%, 1% higher than previously guided.

The company reported pre-tax profit of £58.2m for the year to February 25, compared with a pre-tax loss of £1.01bn a year earlier and estimates of a £53m loss. Group revenue rose to £1.70bn from £589.4m. The board said it was resuming dividend payments and declared a final dividend of 34.7p a share.

Barclays rose despite the bank delaying its £1bn share buyback further as a £523m conduct charge caused the bank's first-quarter profit to fall.

Pre-tax profit dropped 7% to £2.23bn in the three months to the end of March from a year earlier as income rose 10% to £6.5bn. The decline was caused by the conduct charge which covered over-issuance of securities in the US and customer compensation costs for a separate matter.

UK supermarket chain Sainsbury's fell as it warned of lower profits this year due to the impact of the cost-of-living crisis on consumers' disposable income and inflationary pressure.

The company forecast underlying pre-tax profit of £630m - £690m in full-year 2022/23 as it posted a £730m profit last year, up 104% on the prior 12 months driven by grocery and fuel sales. Sainsbury's increased its dividend to 9.9p, bringing the final dividend to 13.1p-a-share, almost a quarter higher than last year.

FTSE 100 - Risers

Standard Chartered (STAN) 544.60p 13.53% Aveva Group (AVV) 2,045.00p 6.29% Barclays (BARC) 147.50p 3.93% Whitbread (WTB) 2,855.00p 3.55% Smith & Nephew (SN.) 1,312.50p 3.47% Electrocomponents (ECM) 1,035.50p 3.34% Royal Mail (RMG) 350.20p 3.21% Burberry Group (BRBY) 1,579.00p 3.17% 3i Group (III) 1,327.00p 3.07% Melrose Industries (MRO) 115.50p 2.62%

FTSE 100 - Fallers

Sainsbury (J) (SBRY) 228.60p -4.35% Fresnillo (FRES) 763.00p -3.88% St James's Place (STJ) 1,273.00p -3.19% Anglo American (AAL) 3,454.50p -1.48% London Stock Exchange Group (LSEG) 7,860.00p -1.26% BT Group (BT.A) 179.75p -0.91% Antofagasta (ANTO) 1,531.00p -0.87% Schroders (SDR) 2,846.00p -0.77% Ferguson (FERG) 10,025.00p -0.50% Tesco (TSCO) 272.60p -0.37%

FTSE 250 - Risers

Spectris (SXS) 2,858.00p 7.12% Telecom Plus (TEP) 1,636.00p 6.93% Network International Holdings (NETW) 265.40p 6.16% Inchcape (INCH) 704.00p 5.71% Lancashire Holdings Limited (LRE) 420.60p 5.52% Synthomer (SYNT) 299.60p 4.76% Moonpig Group (MOON) 198.30p 4.04% Dr. Martens (DOCS) 214.20p 3.88% Renishaw (RSW) 4,122.00p 3.78% Hays (HAS) 121.70p 3.75%

FTSE 250 - Fallers

Tyman (TYMN) 271.50p -5.07% Weir Group (WEIR) 1,533.00p -4.78% Morgan Sindall Group (MGNS) 2,195.00p -3.09% Hochschild Mining (HOC) 114.40p -2.05% Sequoia Economic Infrastructure Income Fund Limited (SEQI) 99.00p -1.79% Playtech (PTEC) 524.00p -1.50% BH Macro Ltd. GBP Shares (BHMG) 4,310.00p -1.37% Centamin (DI) (CEY) 89.40p -1.35% Drax Group (DRX) 816.00p -1.33% Babcock International Group (BAB) 306.40p -1.29%