Dear readers,
We are glad to announce of our new website, https://uk.webfg.com. There you will continue to have access to the full content of the Sharecast newswire, alongside an improved and expanded suite of market data and research tools for both the UK and the main international markets. As a first step in the transition to the new site, over coming days and weeks the news and data pages on Sharecast.com will redirect you towards the new website which we earnestly hope you will find even more useful than the current service. Should anyone like to comment or provide constructive criticism on the new layout or what features they would like to see added or deleted, do please send us an e-mail to info@digitallook.com. Lastly, of course, we wish to express our heartfelt gratitude for your support and encouragement over the years as we continued to grow and expand the service.
Very best,
Sharecast

Login/Register

FTSE 100 movers: M&S boosted by Barclays note; Reckitt drops on results

Market Reports

FTSE 100 movers: M&S boosted by Barclays note; Reckitt drops on results

Fri, 21 April 2017
Article viewed 273 times
http://stmedia.digitallook.com/web/img/dl/2301640973_9115260713_z.jpg
bool(true)
FTSE 100 movers: M&S boosted by Barclays note; Reckitt drops on results

(ShareCast News) - London's FTSE 100 was flat at 7,117.67 in afternoon trade as investors digested disappointing UK retail sales data.
Retailer Marks & Spencer got a boost as Barclays initiated coverage of the stock at 'overweight' with a 410p price target, which implies 14% potential upside.

The bank acknowledged that like the rest of the UK general retail sector, M&S currently faces some significant headwinds given weakening consumer sentiment and FX pressures on input prices, especially in the demand-elastic Clothing & Home segment.

However, it highlighted the fact that M&S Food has a good track record over many years, noting that the company is becoming increasingly food-focused over time.

In addition, Barclays said it sees plenty of opportunity to add more stores, 200 in the next two years on a base of around 600.

Equipment rental firm Ashtead was clawing back some ground, having fallen sharply in the previous session after results from US peer United Rentals showed rental rates were under pressure in the first quarter.

Aviva pushed higher after buying VietinBank's entire 50% shareholding in its life insurance joint venture VietinBank Aviva Life Insurance Limited and signing a new distribution agreement with VietinBank to sell life and health insurance products through its network of more than 1,100 branches.

Mondi and Smurfit Kappa recovered after declining on Thursday as their stock went ex-dividend.

On the downside, Rentokil fell despite announcing that its Rentokil Pest Control business has been awarded The Queen's Award for Enterprise for International Trade, recognising the business's outstanding achievement in global trade.

Consumer goods group Reckitt Benckiser was on the back foot after it reported flat sales for the first quarter.

Market Movers

FTSE 100 (UKX) 7,129.14 0.15%
FTSE 250 (MCX) 19,377.38 -0.01%
techMARK (TASX) 3,416.94 -0.00%

FTSE 100 - Risers

Babcock International Group (BAB) 901.00p 2.39%
Marks & Spencer Group (MKS) 359.50p 1.64%
Rio Tinto (RIO) 3,114.00p 1.50%
Convatec Group (CTEC) 294.60p 1.41%
Antofagasta (ANTO) 837.50p 1.39%
Ashtead Group (AHT) 1,601.00p 1.33%
Aviva (AV.) 513.00p 1.28%
Mondi (MNDI) 1,960.00p 1.24%
CRH (CRH) 2,705.00p 1.08%
Smurfit Kappa Group (SKG) 1,983.00p 1.07%

FTSE 100 - Fallers

Micro Focus International (MCRO) 2,462.00p -1.44%
Hikma Pharmaceuticals (HIK) 1,822.00p -1.25%
Rentokil Initial (RTO) 239.40p -1.24%
Johnson Matthey (JMAT) 2,867.00p -1.17%
Reckitt Benckiser Group (RB.) 7,190.00p -1.17%
Mediclinic International (MDC) 721.00p -1.10%
Burberry Group (BRBY) 1,575.00p -1.07%
Smiths Group (SMIN) 1,577.00p -0.88%
Kingfisher (KGF) 326.60p -0.79%
Severn Trent (SVT) 2,323.00p -0.73%