Skip Header
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: Banks gain; Burberry in the red

(Sharecast News) - London's FTSE 100 was down 1% at 8,242.74 in afternoon trade on Friday. Banks were among the top performers, with NatWest and HSBC both higher.

Burberry was under the cosh ahead of its demotion from the top-flight index and as Jefferies downgraded the shares to 'underperform' from 'hold' and slashed the price target to 490p from 800p as it took a look at European luxury brands.

"A change in management (presumably to be followed by a tilt in strategic direction) and a challenged demand backdrop make for an especially uncertain future at Burberry," it said.

"Our 'underperform' recognises that the stock is likely to continue to suffer from an uncertainty overhang.

"And even once the current exceptional GM pressures are recovered, the valuation case for ownership remains weaker than at most peers."

FTSE 100 - Risers

Smurfit Westrock (DI) (SWR) 3,634.00p 1.20% National Grid (NG.) 1,034.50p 1.12% NATWEST GROUP (NWG) 338.70p 1.10% HSBC Holdings (HSBA) 663.80p 0.84% Scottish Mortgage Inv Trust (SMT) 815.00p 0.67% United Utilities Group (UU.) 1,062.50p 0.66% Glencore (GLEN) 381.95p 0.55% Entain (ENT) 739.80p 0.49% Fresnillo (FRES) 591.00p 0.42% International Consolidated Airlines Group SA (CDI) (IAG) 208.90p 0.38%

FTSE 100 - Fallers

Burberry Group (BRBY) 597.80p -4.57% Croda International (CRDA) 3,925.00p -3.44% Hikma Pharmaceuticals (HIK) 1,901.00p -3.21% Kingfisher (KGF) 321.20p -3.19% SSE (SSE) 1,934.50p -3.11% Next (NXT) 10,070.00p -3.08% Frasers Group (FRAS) 855.50p -3.00% Ashtead Group (AHT) 5,614.00p -2.87% Mondi (MNDI) 1,405.50p -2.83% Antofagasta (ANTO) 1,806.00p -2.80%

Share this article

Related Sharecast Articles

FTSE 100 movers: Frasers jumps; utilities give back gains
(Sharecast News) - London's FTSE 100 was down 1.2% at 8,011.35 in afternoon trade on Friday.
FTSE 250 movers: Serco rallies on update; US-exposed stocks hit by hawkish Fed
(Sharecast News) - FTSE 250 (MCX) 20,368.09 -1.14%
FTSE 100 movers: Water companies rally; ICG in the red
(Sharecast News) - London's FTSE 100 was down 1.3% at 8,089.42 in afternoon trade on Thursday.
FTSE 100 movers: IAG flies higher on broker note; National Grid falls
(Sharecast News) - London's FTSE 100 was flat at 8,193.76 in afternoon trade on Wednesday.

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.