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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Admiral sitting pretty on broker upgrade; RS retreats

(Sharecast News) - London's FTSE 100 was down 0.4% at 7,693.25 in afternoon trade on Tuesday. Insurer Admiral was sitting pretty at the top of the index after an upgrade to 'buy' at Deutsche Bank.

Shipping services firm Clarkson sailed lower after a downgrade to 'hold' at HSBC.

RS Group slumped even as it said it expects full-year profit to be towards the top end of consensus estimates after third-quarter revenues grew 8% despite a tough economic backdrop.

The distributor of industrial and electronic products said strong trade in EMEA and the US offset an 8% fall in Asia-Pacific sales due to the shortage of computer parts.

Consensus for the year to March 31, 2023 is a revenue range of £2.71bn-3.04bn, adjusted operating profit of £356.8m-384.1m and adjusted pre-tax profit of £350.4m-374.9m.

FTSE 100 - Risers

Admiral Group (ADM) 2,267.00p 2.67% Convatec Group (CTEC) 245.60p 1.82% Fresnillo (FRES) 943.40p 1.24% Sage Group (SGE) 787.40p 1.23% Abrdn (ABDN) 196.25p 1.21% DCC (CDI) (DCC) 4,298.00p 1.13% Whitbread (WTB) 2,837.00p 1.03% InterContinental Hotels Group (IHG) 5,206.00p 0.93% Compass Group (CPG) 1,917.50p 0.92% Aviva (AV.) 458.90p 0.86%

FTSE 100 - Fallers

RS Group (RS1) 916.00p -3.83% Next (NXT) 6,218.00p -3.66% Airtel Africa (AAF) 110.40p -3.58% SEGRO (SGRO) 779.40p -3.16% Anglo American (AAL) 3,495.00p -2.42% Rolls-Royce Holdings (RR.) 101.32p -2.35% Ocado Group (OCDO) 726.00p -2.31% Frasers Group (FRAS) 722.00p -2.30% BT Group (BT.A) 125.15p -2.26% Haleon (HLN) 315.00p -2.02%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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