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: Melrose boosted by Stifel note; StanChart in the red
(Sharecast News) - London's FTSE 100 was down 0.2% at 8,245.95 in afternoon trade on Tuesday. Melrose Industries rallied after Stifel lifted its price target on the shares to 700p from 690p and upped its profit forecast.
Stifel, which kept its 'buy' rating on the shares, said they have lagged the company's Aero engine peers over recent weeks, partly due to the perceived overhang of the LTIP crystallisation and the consequent issue of stock to former and current management.
"With the group now opting to cash-settle the portion of the payout required to fund tax costs, and some of the remaining shares subject to lock-up, dilution is less than we had anticipated, and there seems little risk of material flowback," Stifel said.
"Meanwhile, the Q1 trading update, and commentary from peers, suggests that trading remains robust, with strong demand for high-margin Aero aftermarket parts and services, through RRSPs and direct."
Marks & Spencer and Next both gained after figures from the BRC and KPMG showed that retail sales inched higher in May, staging a minor rebound after a disappointing performance in April.
On the downside, online supermarket Ocado slumped as it faced relegation from the index.
BP and Shell fell as oil prices retreated after OPEC+ nations said they would gradually phase out production cuts after September.
Standard Chartered was under the cosh after a former banker there accused the bank of carrying out more than $100bn of undetected transactions that breached sanctions against Iran.
The whistleblower claims relate to thousands of transactions made by the bank between 2008 and 2013, even after it said it had discontinued all Iranian operations in 2007. These transactions include those allegedly made to a number of front companies for Hamas and Hezbollah, as well as other entities linked to terrorist organisations.
FTSE 100 - Risers
Melrose Industries (MRO) 635.20p 3.42% Halma (HLMA) 2,291.00p 2.28% National Grid (NG.) 905.20p 2.17% easyJet (EZJ) 484.60p 1.94% Marks & Spencer Group (MKS) 311.80p 1.86% Unilever (ULVR) 4,382.00p 1.74% Severn Trent (SVT) 2,397.00p 1.70% Relx plc (REL) 3,480.00p 1.69% Intertek Group (ITRK) 4,866.00p 1.67% Next (NXT) 9,476.00p 1.65%
FTSE 100 - Fallers
Ocado Group (OCDO) 357.60p -6.56% Fresnillo (FRES) 582.00p -5.60% Standard Chartered (STAN) 745.00p -4.04% St James's Place (STJ) 502.00p -4.02% BP (BP.) 464.10p -3.55% Anglo American (AAL) 2,422.50p -3.22% Shell (SHEL) 2,719.00p -2.28% Antofagasta (ANTO) 2,165.00p -2.26% Glencore (GLEN) 471.50p -2.08% CRH (CDI) (CRH) 6,120.00p -1.99%
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.
