The FTSE 100 index was almost unchanged from the previous session, ending today at 7,249.5, which is a decline of only 0.05%. Do not let this lead you to believe that it was a relatively dull day at the stock markets, though. There were plenty of company updates and sharp movements in some stocks.
Here are the top six FTSE 100 movers and shakers from today’s trading.
WPP rallies on upgraded guidance
The biggest gainer was the advertising company WPP, which saw an impressive 8% increase. This followed its trading update for the third quarter of 2021, which started off by saying, “Very strong Q3 performance”. The company’s like-for-like revenue grew by almost 15% on a year-on-year basis. It also upgraded its full-year revenue guidance, sending its share price to one-year highs.
Volatility continues to drive FTSE 100’s Darktrace
Next, the cyber security company Darktrace rallied by some 6.7%. This is in line with the volatility seen in the stock since September, especially since there have been no company updates to explain this. The company, which was listed at the London Stock Exchange only earlier this year, has had a good run so far at the stock markets. But it has not been able to win over all market participants, which probably explains the stock price fluctuations.
GlaxoSmithKline continues to gain
The FTSE 100 pharmaceuticals and healthcare stock GlaxoSmithKline came next, with a 4.1% increase, continuing to run up for the eighth consecutive session. Its third-quarter results released yesterday were positive. The company beat expectations and also raised its profit guidance on expectations of improved sales. It is possible that the momentum from yesterday continued to give a fillip to its share price.
DS Smith posts confident update
Packaging provider DS Smith also rose on its trading update for the first half of the current financial year, but by a lower 2.6%. The company affirmed that e-commerce trends are still strong, which are likely to reflect in its revenues. It also said that it had been able to pass on cost increases in the form of higher prices, which can protect its bottomline too. The stock has already performed well over the past year, and the latest update seems to have made investors even more confident.
Royal Dutch Shell disappoints with earnings below expectations
Not all FTSE 100 stocks were winners, though. Royal Dutch Shell saw a 3.5% fall in its share price after disappointing results. The company’s profits came in lower than analysts’ expectations in the third quarter of the year and also below last quarter’s numbers. They did rise compared to the same time last year, though. The share price drop might have been even bigger, had the company not warned of a hit from Hurricane Ida earlier this month.
Vodafone’s downward spiral
The Vodafone stock also lost value of around 2.7%, a sharp decline undoubtedly, but in line with the trend of a broadly falling share price it has seen in the past six months. The company has been in a funk for a few years now, with inconsistent profits over time.
Manika Premsingh owns shares of Royal Dutch Shell B. The Motley Fool UK has recommended DS Smith and GlaxoSmithKline. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
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