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FTSE 100 movers: JD Sports boosted by Foot Locker update; Intertek falls
(Sharecast News) - London's FTSE 100 was up 0.4% at 7,375.68 in afternoon trade on Friday. Ocado was the standout gainer on the index, having slumped on Thursday after hedge fund Kintbury Capital said it expects 50% downside in the shares at best.
JD Sports rallied as US peer Foot Locker surged after the sportswear retailer lifted its full-year outlook and reported better-than-expected third-quarter results.
Legal & General gained as it backed its full-year guidance for operating profit growth and capital generation and said its pension risk transfer business had continued to perform strongly.
Convatec was higher after Liberum reiterated its 'buy' rating on the shares. The broker said Convatec's capital markets day reinforced its view "that it is a quality company and that, as investors warm to the turnaround, the shares will re-rate".
"In fact, if anything, we came away from the day more confident, boosted by a clear sense that the company was shifting to the front foot and a set of ambitious but, in our view, achievable financial targets," Liberum said.
Intertek was under the cosh after a downgrade to 'sell' at Stifel.
FTSE 100 - Risers
Ocado Group (OCDO) 698.80p 5.34% JD Sports Fashion (JD.) 120.05p 4.71% Legal & General Group (LGEN) 264.70p 4.38% Frasers Group (FRAS) 809.50p 4.18% Convatec Group (CTEC) 230.20p 4.07% Flutter Entertainment (CDI) (FLTR) 11,590.00p 3.48% Intermediate Capital Group (ICP) 1,212.50p 3.46% Kingfisher (KGF) 246.20p 3.45% M&G (MNG) 199.45p 3.02% Phoenix Group Holdings (PHNX) 593.80p 2.95%
FTSE 100 - Fallers
BAE Systems (BA.) 763.60p -1.39% BP (BP.) 474.05p -0.96% Glencore (GLEN) 507.00p -0.96% Haleon (HLN) 286.70p -0.92% Prudential (PRU) 989.00p -0.86% Smiths Group (SMIN) 1,583.00p -0.85% Rolls-Royce Holdings (RR.) 85.96p -0.74% Shell (SHEL) 2,351.00p -0.57% Intertek Group (ITRK) 3,937.00p -0.56% Standard Chartered (STAN) 581.80p -0.51%
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