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: JD Sports gets a boost; Melrose gives back some gains
(Sharecast News) - London's FTSE 100 was up 0.4% at 7,468.41 in afternoon trade on Friday. JD Sports surged as Berenberg lifted its price target on the stock to 225p from 210p and named the retailer its "top pick" in the sector, as it said the recent slump in the share price has created an attractive entry point.
Berenberg noted that since the initial excitement about the company at the time of its capital markets day in February, the shares have fallen by nearly 30% due to macro uncertainties, peer warnings and perceived execution risks.
"This looks harsh to us, as consensus earnings have continued to rise, and we think risks are lower than the market fears," it said. "We also think investors still underappreciate the strength of JD's model, its positioning and the international opportunity."
The bank said JD offers "extreme value" for the quality and growth on offer, looking cheap against every peer group.
Next was also in the black after an upgrade to 'buy' from 'hold' at Societe Generale.
Spirax-Sarco gained after JPMorgan lifted its target price for the shares, saying that the engineering group's recent share-price weakness has been unwarranted.
The bank upped its target price for the shares from 11,300p to 11,500p and maintained an 'overweight' position on the stock.
Melrose Industries was the standout loser, having rallied on Thursday after it upgraded its annual outlook as it said trading had been ahead of expectations, partly due to higher-than-expected margins at the engines division.
FTSE 100 - Risers
JD Sports Fashion (JD.) 139.10p 3.61% GSK (GSK) 1,420.00p 2.29% Hiscox Limited (DI) (HSX) 1,007.00p 2.23% Beazley (BEZ) 549.00p 1.95% Compass Group (CPG) 2,037.00p 1.80% Entain (ENT) 1,147.50p 1.50% Next (NXT) 7,094.00p 1.46% Spirax-Sarco Engineering (SPX) 10,015.00p 1.35% Intertek Group (ITRK) 4,192.00p 1.33% Rightmove (RMV) 567.80p 1.32%
FTSE 100 - Fallers
Melrose Industries (MRO) 509.40p -5.17% Smurfit Kappa Group (CDI) (SKG) 3,002.00p -3.04% Convatec Group (CTEC) 225.20p -2.43% Rolls-Royce Holdings (RR.) 220.50p -1.47% Mondi (MNDI) 1,290.00p -1.38% Smith (DS) (SMDS) 290.10p -1.33% Airtel Africa (AAF) 112.00p -1.15% Rio Tinto (RIO) 4,792.00p -1.13% BT Group (BT.A) 112.95p -0.92% Vodafone Group (VOD) 73.27p -0.88%
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.
