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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: GSK loses ground; Ocado rallies again

(Sharecast News) - London's FTSE 100 was down 0.6% at 7,293.42 in afternoon trade on Monday. GSK was on the back foot after the pharma giant said that its blood cancer drug, Blenrep, failed to meet the main goal of a late-stage study.

Online supermarket Ocado was the standout gainer on the index, having surged last week after it announced a deal with South Korea's Lotte Shopping.

Mike Ashley's Frasers Group rallied as it launched a share buyback programme and following a report the company is among bidders for Made.com.

Russ Mould, investment director at AJ Bell, said: "Frasers, rumoured to be among the bidders for collapsed online sofa seller Made.com, pleased investors with news of a £70m share buyback.

"The capital return on its own is pleasing but it also says something about the financial strength and robust outlook for the business despite a difficult retail backdrop."

FTSE 100 - Risers

Ocado Group (OCDO) 673.00p 6.15% Frasers Group (FRAS) 703.50p 5.39% Sainsbury (J) (SBRY) 218.80p 4.84% Next (NXT) 5,288.00p 3.12% Entain (ENT) 1,320.50p 2.84% Antofagasta (ANTO) 1,297.00p 2.77% Fresnillo (FRES) 774.80p 2.51% Anglo American (AAL) 3,024.00p 2.46% Land Securities Group (LAND) 593.00p 2.45% Smith (DS) (SMDS) 301.10p 2.45%

FTSE 100 - Fallers

GSK (GSK) 1,383.00p -4.33% Scottish Mortgage Inv Trust (SMT) 744.40p -2.92% Centrica (CNA) 77.82p -2.63% Convatec Group (CTEC) 211.20p -2.31% HSBC Holdings (HSBA) 480.00p -2.04% Reckitt Benckiser Group (RKT) 5,656.00p -1.43% Sage Group (SGE) 709.20p -1.39% Shell (SHEL) 2,493.50p -1.31% BAE Systems (BA.) 790.00p -1.10% Relx plc (REL) 2,283.00p -1.08%

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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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