Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 100 movers: BAT boosted by upgrade; miners in the red
(Sharecast News) - London's FTSE 100 was up 0.1% at 8,509.57 in afternoon trade on Monday. British American Tobacco was the top performer on the index as UBS upgraded it to 'buy' from 'neutral', hiked the price target to 3,900p from 3,000p and made the stock its "top pick".
The bank said it expects BAT's Velo nicotine pouches to accelerate sales growth in New Categories to 16% in FY26, enabling the group to deliver its 2026 outlook.
"Also, there could be flexibility in BAT's 25.5% stake in ITC, for larger buybacks/ debt reduction," UBS said, which could lead to a re-rating.
As a result, UBS said, BAT's estimated FY26 'stub' price-to-earnings of 6.6x is low.
"Helped by USD strength, we raise our FY25/26 EPS estimates by +3%/+5% - similarly above consensus including Canada - and raise our target price to £39.0 (from £30.0), which is based on a FY26E P/E of 9.5x (-10% discount to the tobacco sector versus -7y average of circa -20%), rolled-forward," it said.
EasyJet flew higher as Ryanair posted better-than-expected third-quarter profit despite another cut in passenger number projections due to delays in Boeing aircraft delivery.
Heavily-weighted miners were among the worst performers after weak Chinese manufacturing data, with Anglo American, Glencore and Antofagasta all down.
FTSE 100 - Risers
British American Tobacco (BATS) 3,127.00p 3.96% Airtel Africa (AAF) 129.90p 3.10% Convatec Group (CTEC) 245.60p 2.59% easyJet (EZJ) 498.80p 2.53% Croda International (CRDA) 3,319.00p 2.44% Schroders (SDR) 340.40p 1.92% Severn Trent (SVT) 2,482.00p 1.85% GSK (GSK) 1,380.50p 1.77% Unilever (ULVR) 4,620.00p 1.67% Vodafone Group (VOD) 68.12p 1.67%
FTSE 100 - Fallers
Anglo American (AAL) 2,379.50p -6.15% Scottish Mortgage Inv Trust (SMT) 1,001.50p -5.43% Halma (HLMA) 2,797.00p -3.95% Ashtead Group (AHT) 5,228.00p -3.22% CRH (CDI) (CRH) 7,926.00p -2.77% Glencore (GLEN) 365.00p -2.77% Rolls-Royce Holdings (RR.) 589.00p -2.74% Diploma (DPLM) 4,372.00p -2.19% Antofagasta (ANTO) 1,717.00p -2.14% Intermediate Capital Group (ICG) 2,266.00p -2.07%
Share this article
Related Sharecast Articles
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.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
