FTSE 100 movers: Spirax tumbles after results; L&G, M&G hit by downgrades

11th Aug 2026 14:30

(Sharecast News) - London's FTSE 100 was 0.2% higher at 10,881.57 in afternoon trade on Tuesday.

Spirax Group tumbled even as it posted a rise in first-half profit and revenue and said it was on track to meet full-year guidance. The company reported a 44% jump in operating profit to £154.2m and a 5% uptick in revenue to £863.8m, with strong demand growth across all businesses and regions.

Dan Coatsworth, head of markets at AJ Bell, attributed the share price slump to disappointment over the lack of upgrades to earnings guidance in the results.

Legal & General and M&G were both weaker after downgrades to 'sell' from 'neutral' at UBS. The bank lifted its price target on L&G to 280p from 260p and on M&G to 330p from 300p.

FTSE 100 - Risers

St James's Place (STJ) 1,161.00p 2.11%

Entain (ENT) 551.80p 1.88%

Compass Group 11 (CPG) 32.66p 1.74%

IG Group Holdings (IGG) 1,380.00p 1.62%

Airtel Africa (AAF) 327.00p 1.49%

BP (BP.) 531.50p 1.43%

Scottish Mortgage Inv Trust (SMT) 1,424.00p 1.42%

Antofagasta (ANTO) 4,062.00p 1.32%

International Consolidated Airlines Group SA (CDI) (IAG) 441.60p 1.31%

Fresnillo (FRES) 2,983.00p 1.25%

FTSE 100 - Fallers

Spirax Group (SPX) 7,205.00p -5.49%

Legal & General Group (LGEN) 299.00p -3.73%

M&G (MNG) 350.70p -3.09%

Standard Life (SDLF) 904.00p -2.95%

Prudential (PRU) 1,020.00p -2.06%

JD Sports Fashion (JD.) 92.10p -2.04%

Diageo (DGE) 1,760.00p -1.84%

Sainsbury (J) (SBRY) 345.30p -1.62%

Tesco (TSCO) 461.10p -1.52%

Bunzl (BNZL) 2,794.00p -1.27%