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: M&S boosted by broker note; Phoenix slumps
(Sharecast News) - London's FTSE 100 was up 0.2% at 8,285.18 in afternoon trade on Monday. Marks & Spencer was the top gainer as RBC Capital Markets lifted its price target on the shares to 400p from 350p as it raised estimates on the 'outperform' rated stock, pointing to sales momentum and the recent re-rating of the UK food retail sector.
The bank said the M&S share price has performed well year-to-date but it sees further upside driven by food outperformance, clothing full price sales and the retailer's strong cash generation.
"Food price and value perception strong," RBC said. "We think other grocery retailers have been more focused on loyalty and the value end of their offers.
"Also, the eating out to eating in trend has helped M&S in our view."
B&Q and Castorama owner Kingfisher was also in the black ahead of half-year results on Tuesday.
Phoenix Group slumped as the pensions, savings and life insurance provider reported a 15% increase in operating profits in the first half but also said it was pulling the disposal of its SunLife division.
Sun Life sells financial products to the over-50s. Phoenix said it was ditching the disposal just three months after putting it up for sale given "current uncertainty in the protection market".
FTSE 100 - Risers
Marks & Spencer Group (MKS) 360.10p 2.53% Fresnillo (FRES) 581.50p 2.38% Kingfisher (KGF) 290.10p 2.11% JD Sports Fashion (JD.) 151.35p 1.65% 3i Group (III) 3,238.00p 1.19% Tesco (TSCO) 368.80p 1.18% Sainsbury (J) (SBRY) 293.20p 1.17% Persimmon (PSN) 1,658.50p 1.16% Compass Group (CPG) 2,464.00p 1.15% Smith (DS) (SMDS) 472.00p 1.07%
FTSE 100 - Fallers
Phoenix Group Holdings (PHNX) 553.50p -3.99% Smurfit Westrock (DI) (SWR) 3,391.00p -2.33% Melrose Industries (MRO) 471.40p -1.69% Mondi (MNDI) 1,397.00p -1.45% Entain (ENT) 724.20p -1.42% Prudential (PRU) 615.20p -1.41% Scottish Mortgage Inv Trust (SMT) 808.40p -1.25% HSBC Holdings (HSBA) 651.70p -1.06% Spirax Group (SPX) 7,440.00p -1.00% Sage Group (SGE) 1,021.00p -0.97%
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.
