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
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
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, Ocado hit by broker downgrades
(Sharecast News) - London's FTSE 100 was down 0.5% at 7,151.32 in afternoon trade on Wednesday. British American Tobacco was under the cosh after a downgrade to 'neutral' at Goldman Sachs.
Ocado was also in the red after JPMorgan Cazenove downgraded its stance on the online supermarket to 'underweight' from 'neutral' as it argued that the customer fulfilment centre (CFC) pipeline rollout was likely to remain slow.
On Tuesday, Ocado announced that it had signed a partnership between Ocado Solutions and Lotte Shopping, one of the largest business conglomerates in South Korea, to develop Lotte's online business with the Ocado Smart Platform.
JPM noted that this includes six new CFCs by 2028 and an additional in-store fulfilment solution across Lotte's store estate.
"In light of the current debate around Ocado's ability to sign new partnership deals, this was clearly a welcomed step, though we emphasise that still a large number of additional CFCs are required to justify current valuation in our view," JPM said.
Corrugated packaging group Smurfit Kappa was weaker even as it said that revenues in the nine months to 30 September grew 33%, while EBITDA was up 43% from the same period a year earlier.
Market Movers
FTSE 100 (UKX) 7,131.28 -0.76% FTSE 250 (MCX) 18,220.47 0.14% techMARK (TASX) 4,281.54 0.08%
FTSE 100 - Risers
Dechra Pharmaceuticals (DPH) 2,706.00p 2.58% Ashtead Group (AHT) 4,767.00p 2.45% Airtel Africa (AAF) 118.80p 2.41% B&M European Value Retail S.A. (DI) (BME) 346.00p 2.37% Next (NXT) 5,046.00p 1.67% Coca-Cola HBC AG (CDI) (CCH) 1,922.00p 1.67% London Stock Exchange Group (LSEG) 7,744.00p 1.63% AstraZeneca (AZN) 10,478.00p 1.28% Bunzl (BNZL) 2,869.00p 1.24% Rentokil Initial (RTO) 527.40p 1.23%
FTSE 100 - Fallers
British American Tobacco (BATS) 3,283.50p -5.24% Ocado Group (OCDO) 625.00p -4.52% Antofagasta (ANTO) 1,181.50p -4.02% Smurfit Kappa Group (CDI) (SKG) 2,802.00p -3.35% Anglo American (AAL) 2,682.50p -3.04% Croda International (CRDA) 6,502.00p -2.90% Rio Tinto (RIO) 4,605.00p -2.75% Informa (INF) 552.40p -2.37% Melrose Industries (MRO) 117.20p -2.21% CRH (CDI) (CRH) 3,070.50p -2.09%
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 | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | 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.
