FTSE 100 movers: Admiral sitting pretty on broker upgrade; RS retreats

London’s FTSE 100 was down 0.4% at 7,693.25 in afternoon trade on Tuesday.

Insurer Admiral was sitting pretty at the top of the index after an upgrade to ‘buy’ at Deutsche Bank.

Shipping services firm Clarkson sailed lower after a downgrade to ‘hold’ at HSBC.

RS Group slumped even as it said it expects full-year profit to be towards the top end of consensus estimates after third-quarter revenues grew 8% despite a tough economic backdrop.

The distributor of industrial and electronic products said strong trade in EMEA and the US offset an 8% fall in Asia-Pacific sales due to the shortage of computer parts.

Consensus for the year to March 31, 2023 is a revenue range of £2.71bn-3.04bn, adjusted operating profit of £356.8m-384.1m and adjusted pre-tax profit of £350.4m-374.9m.

FTSE 100 - Risers

Admiral Group (ADM) 2,267.00p 2.67%
Convatec Group (CTEC) 245.60p 1.82%
Fresnillo (FRES) 943.40p 1.24%
Sage Group (SGE) 787.40p 1.23%
Abrdn (ABDN) 196.25p 1.21%
DCC (CDI) (DCC) 4,298.00p 1.13%
Whitbread (WTB) 2,837.00p 1.03%
InterContinental Hotels Group (IHG) 5,206.00p 0.93%
Compass Group (CPG) 1,917.50p 0.92%
Aviva (AV.) 458.90p 0.86%

FTSE 100 - Fallers

RS Group (RS1) 916.00p -3.83%
Next (NXT) 6,218.00p -3.66%
Airtel Africa (AAF) 110.40p -3.58%
SEGRO (SGRO) 779.40p -3.16%
Anglo American (AAL) 3,495.00p -2.42%
Rolls-Royce Holdings (RR.) 101.32p -2.35%
Ocado Group (OCDO) 726.00p -2.31%
Frasers Group (FRAS) 722.00p -2.30%
BT Group (BT.A) 125.15p -2.26%
Haleon (HLN) 315.00p -2.02%