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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: 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. Frasers Group was the top gainer after Boohoo shareholders voted overwhelmingly against the appointment to the board of Mike Ashley and restructuring expert Mike Lennon.

Just under 64% of shareholders voted against each of the proposed appointments.

In a number of open letters, Frasers had urged Boohoo to make both appointments, having criticised the company's "dismal" interim results and "long-term mismanagement".

Water companies were under the cosh, having gained on Thursday after regulator Ofwat announced its final determination for the five-year period to 2030, saying that average bills would increase by 36% in England and Wales, the equivalent of around £31 per year.

Severn Trent and United Utilities were the worst performers on the index.

FTSE 100 - Risers

Frasers Group (FRAS) 620.00p 1.72% LondonMetric Property (LMP) 177.60p 1.14% Rentokil Initial (RTO) 396.00p 1.12% B&M European Value Retail S.A. (DI) (BME) 357.20p 0.62% SEGRO (SGRO) 685.80p 0.56% National Grid (NG.) 926.60p 0.54% Vistry Group (VTY) 648.00p 0.31% Sainsbury (J) (SBRY) 272.00p 0.22% SSE (SSE) 1,601.50p 0.22% Land Securities Group (LAND) 560.50p 0.18%

FTSE 100 - Fallers

Severn Trent (SVT) 2,484.00p -3.50% United Utilities Group (UU.) 1,035.00p -2.73% Smurfit Westrock (DI) (SWR) 4,034.00p -2.51% Rolls-Royce Holdings (RR.) 566.00p -2.35% Beazley (BEZ) 795.00p -2.09% Intermediate Capital Group (ICG) 2,036.00p -1.93% Melrose Industries (MRO) 538.00p -1.90% Hiscox Limited (DI) (HSX) 1,086.00p -1.81% Scottish Mortgage Inv Trust (SMT) 923.00p -1.79% Anglo American (AAL) 2,298.50p -1.69%

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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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