FTSE 100 movers: Convatec surges on guidance upgrade; banks fall

24th Feb 2026 14:51

(Sharecast News) - London's FTSE 100 was 0.2% higher at 10,708.32 in afternoon trade on Tuesday.

Convatec surged to the top of the index as the medical products maker upgraded its medium-term organic growth target following a strong year.

Croda rose as it posted a jump in annual sales and earnings despite the ongoing impact of US tariffs and wider geopolitical uncertainty. The speciality chemicals group reported a 6.6% rise in sales in the year to December end, to £1.7bn, on a constant currency basis, while adjusted earnings before interest, tax, depreciation and amortisation were 7.1% stronger at £396.6m.

Rentokil took a hit after Deutsche Bank downgraded the stock to 'hold' from 'buy' and cut the price target to 465p from 505p.

Melrose Industries also fell after it said that Ross McCluskey will be appointed CFO and executive director of the board on 5 May, following the previously-announced departure of Matthew Gregory.

Asia and Africa-focused bank Standard Chartered lost ground even as it reported a 16% rise in annual earnings on the back of a strong performance at its wealth management division and unveiled a $1.5bn share buyback to start immediately.

Pre-tax profit came in at $6.96bn, compared with $6bn a year earlier and the $7.2bn forecast by analysts in a company-compiled poll.

Banks more generally were under pressure, with Lloyds, Barclays and NatWest down amid concerns about the credit market after the boss of JP Morgan warned over the risk of bad loans.

In comments at an annual investor update on Monday, Jamie Dimon said he was starting to see parallels with the time before the 2008 financial crisis, when a rush to make loans ended badly, and that some rival banks were doing "dumb things" to boost net interest income.

FTSE 100 - Risers

Convatec Group (CTEC) 256.00p 12.78%

Croda International (CRDA) 3,248.00p 8.81%

Smurfit Westrock (DI) (SWR) 3,449.00p 3.48%

Mondi (MNDI) 909.80p 2.57%

United Utilities Group (UU.) 1,379.00p 2.30%

BT Group (BT.A) 210.60p 1.99%

Bunzl (BNZL) 2,158.00p 1.98%

Hikma Pharmaceuticals (HIK) 1,650.00p 1.91%

Diploma (DPLM) 5,680.00p 1.88%

Severn Trent (SVT) 3,210.00p 1.84%

FTSE 100 - Fallers

Rentokil Initial (RTO) 443.40p -3.46%

Melrose Industries (MRO) 647.40p -3.34%

Standard Chartered (STAN) 1,770.00p -2.51%

Rolls-Royce Holdings (RR.) 1,310.00p -1.73%

Fresnillo (FRES) 3,908.00p -1.71%

Lloyds Banking Group (LLOY) 102.10p -1.64%

Barclays (BARC) 456.35p -1.44%

Weir Group (WEIR) 3,440.00p -1.38%

NATWEST GROUP (NWG) 602.40p -1.31%

Babcock International Group (BAB) 1,385.00p -1.21%