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: GSK gains on Zantac news; banks slump
(Sharecast News) - London's FTSE 100 was flat at 8,345.78 in afternoon trade on Wednesday. GSK gained as it said the Delaware Supreme Court would review a previous decision allowing expert evidence in the Zantac litigation - an important step in the company's defence against claims that the drug causes cancer.
Banks were under the cosh, with NatWest, Barclays and Lloyds all down after the Financial Times cited a former senior Whitehall official as saying that banks could be targeted in the October budget. The FT said the official suggested a levy could raise several billions of pounds.
Kingfisher was in the red as Citi downgraded shares of the B&Q and Castorama owner to 'neutral' from 'buy', citing limited scope for near-term upgrades.
The bank noted the shares have had a good run, up around 32% from their February lows, supported by an improving macro backdrop in the UK and Poland, as well as ongoing share buybacks.
"While we continue to see scope for stronger UK outlook on the back of healthy consumer sentiment trends and higher housing market activity in FY 2025/26e, we move neutral here as we see limited upside risks to estimates amidst ongoing weakness in France and incrementally lacklustre consumer sentiment trends in Poland," it said.
"Stock trades on P/E of 14x, EV/EBIT of 11.7x and EV/Sales of 0.56x on our FY25e estimates and we see limited upside to current valuation near term."
Luxury fashion brand Burberry was also out of fashion ahead of an expected demotion from the top-flight index.
FTSE 100 - Risers
Coca-Cola HBC AG (CDI) (CCH) 2,802.00p 2.19% GSK (GSK) 1,648.00p 1.85% Weir Group (WEIR) 1,952.00p 1.30% BAE Systems (BA.) 1,337.00p 1.29% Halma (HLMA) 2,569.00p 1.22% Diploma (DPLM) 4,398.00p 1.15% Experian (EXPN) 3,658.00p 1.13% Aviva (AV.) 503.40p 1.08% Melrose Industries (MRO) 480.90p 1.01% Intertek Group (ITRK) 4,852.00p 1.00%
FTSE 100 - Fallers
Antofagasta (ANTO) 1,837.00p -3.85% NATWEST GROUP (NWG) 336.10p -3.81% Burberry Group (BRBY) 671.60p -3.06% Barclays (BARC) 223.35p -2.98% Lloyds Banking Group (LLOY) 58.02p -1.99% Anglo American (AAL) 2,237.00p -1.84% Kingfisher (KGF) 281.80p -1.74% Glencore (GLEN) 403.50p -1.71% Fresnillo (FRES) 546.50p -1.44% JD Sports Fashion (JD.) 141.10p -1.40%
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.
