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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: Rolls-Royce, GSK pace losses

(Sharecast News) - Rolls-Royce, GSK and Melrose Industries were among the worst performers. Russ Mould, investment director at AJ Bell, said they are "in the firing line if Trump doesn't give the UK special treatment" when it comes to tariffs.

On the upside, advertising giant WPP was the standout gainer on the index, having slumped on Tuesday after Bank of America Merrill Lynch said it expects first-quarter results on 25 April to show a further deterioration in like-for-like revenue growth.

Distribution and outsourcing firm Bunzl ticked higher after an upgrade to 'buy' from 'hold' at Stifel.

Diageo was also in the black after Berenberg said in a research on the beverages sector that it and Pernod Ricard "offer the most attractive risk/reward profiles to play this tariff uncertainty".

"Diageo's share price and valuation have corrected to reflect a higher US bond yield, lower earnings expectations and tariff risk," the bank said.

""The stock is now trading at a calendar 2025 EV/EBITA of 14.5x. This represents a circa 10% premium to its key peer Pernod Ricard, which we think can be justified by the company's superior ROIC track record.

"Given Diageo's size and geographical diversification, we view tariff risk as substantial, but manageable, and think Diageo offers an attractive risk/reward profile to play the existing tariff uncertainty."

Market Movers

FTSE 100 (UKX) 8,608.48 -0.30%

FTSE 100 - Risers

Flutter Entertainment (DI) (FLTR) 17,605.00p 3.44% Bunzl (BNZL) 3,034.00p 3.20% WPP (WPP) 577.00p 3.00% Smurfit Westrock (DI) (SWR) 3,581.00p 2.93% Marks & Spencer Group (MKS) 365.10p 2.41% JD Sports Fashion (JD.) 70.94p 2.22% Associated British Foods (ABF) 1,960.00p 1.71% CRH (CDI) (CRH) 6,928.00p 1.55% Whitbread (WTB) 2,495.00p 1.46% International Consolidated Airlines Group SA (CDI) (IAG) 261.00p 1.40%

FTSE 100 - Fallers

Rolls-Royce Holdings (RR.) 755.80p -3.03% Vodafone Group (VOD) 70.38p -2.52% GSK (GSK) 1,433.50p -2.42% Persimmon (PSN) 1,180.50p -2.32% British American Tobacco (BATS) 3,120.00p -2.23% St James's Place (STJ) 946.00p -2.03% Fresnillo (FRES) 934.50p -1.94% Taylor Wimpey (TW.) 106.20p -1.94% Berkeley Group Holdings (The) (BKG) 3,554.00p -1.93% Melrose Industries (MRO) 473.80p -1.78%

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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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