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: Miners rally; Ocado hit by downgrade
(Sharecast News) - London's FTSE 100 was up 0.4% at 7,234 in afternoon trade on Monday. Miners Anglo American, Glencore and Rio Tinto were among the best performers.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said: "Miners have started on the front foot, helped by the plans for a potential $600 billion global infrastructure boost, which was unveiled at the G7 summit.
"It's hoped this scheme, seen as a counter to China's Belt and Road Initiative, will set off a spurt of spending and demand for commodities around the world, triggered by the $200 billion pledged by the US. But there are already some concerns about the watering down of commitments amid escalating costs of some planned projects due to inflationary pressures."
Online supermarket Ocado was knocked lower by a downgrade to 'neutral' from 'outperform' at Credit Suisse, which slashed its price target to 960p from 1,600p.
The bank said it was revising its model assumptions following the capital raise and in line with new disclosure provided by the company at its recent modelling seminar as well as medium-term and short-term targets confirmed by Ocado.
"Our target price change is primarily driven by: (i) changes in generic customer fulfilment centre (CFC) economic assumptions; (ii) effect from the capital raise; (iii) reallocation and better visibility of central cost and Technology cost; (iv) increased WACC assumption from 8.3% to 8.5%; and (v) changes in retail valuation," it said.
CS said it was broadly in line with the mid-term guidance given by the company.
FTSE 100 - Risers
Rolls-Royce Holdings (RR.) 83.46p 3.11% Anglo American (AAL) 3,160.00p 3.07% Glencore (GLEN) 457.60p 2.54% Pershing Square Holdings Ltd NPV (PSH) 2,525.00p 2.43% Hargreaves Lansdown (HL.) 823.40p 2.34% WPP (WPP) 828.60p 2.30% Scottish Mortgage Inv Trust (SMT) 749.20p 2.21% Harbour Energy (HBR) 362.70p 2.14% Rio Tinto (RIO) 5,076.00p 1.95% Smiths Group (SMIN) 1,425.00p 1.86%
FTSE 100 - Fallers
Abrdn (ABDN) 167.50p -2.02% BT Group (BT.A) 185.90p -1.38% Auto Trader Group (AUTO) 543.80p -1.13% Avast (AVST) 521.40p -1.03% Ocado Group (OCDO) 862.00p -0.99% AstraZeneca (AZN) 10,670.00p -0.98% Airtel Africa (AAF) 136.50p -0.87% Sage Group (SGE) 640.80p -0.87% Intermediate Capital Group (ICP) 1,407.00p -0.85% Imperial Brands (IMB) 1,824.50p -0.76%
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.
