FTSE 100 movers: Retailers rise; Hargreaves Lansdown hit by downgrade

London’s FTSE 100 was up 0.2% at 7,764.31 in afternoon trade on Friday.

Retailers were on the rise, with JD Sports Fashion, Burberry and Frasers Group all up.

SSE rallied after the power generator upgraded annual earnings expectations as higher gas prices and better storage offset lower-than-expected renewables output.

On the downside, Hargreaves Lansdown fell after Jefferies downgraded the shares to ‘underperform’ from ‘hold’.

"Two things have changed since our 9 January update on the UK wealth names we cover," Jefferies said. "Vanguard has said that it recruited more new customers than HL/ and AJ Bell's D2C platform combined in 2022 (although whether the number is gross or net is unclear), and AJB has given us a quarterly update showing slower customer growth.

"With renewed doubt about HL/'s ability to replace or retain departing customers, and a price target well below the price, we downgrade to underperform."

Jefferies has a price target of 800p on the shares.

FTSE 100 - Risers

JD Sports Fashion (JD.) 157.40p 3.04%
3i Group (III) 1,458.00p 3.00%
Burberry Group (BRBY) 2,369.00p 2.87%
SSE (SSE) 1,745.00p 2.53%
Airtel Africa (AAF) 115.20p 2.49%
Rightmove (RMV) 572.00p 2.18%
Auto Trader Group (AUTO) 583.60p 1.92%
Frasers Group (FRAS) 757.50p 1.88%
Flutter Entertainment (CDI) (FLTR) 12,495.00p 1.88%
Prudential (PRU) 1,306.00p 1.79%

FTSE 100 - Fallers

Hargreaves Lansdown (HL.) 861.00p -2.97%
Melrose Industries (MRO) 141.60p -2.85%
AstraZeneca (AZN) 11,198.00p -1.94%
Pearson (PSON) 927.20p -1.59%
Admiral Group (ADM) 2,088.00p -1.32%
Scottish Mortgage Inv Trust (SMT) 732.80p -1.13%
GSK (GSK) 1,402.60p -1.13%
Coca-Cola HBC AG (CDI) (CCH) 1,916.50p -0.65%
WPP (WPP) 910.40p -0.57%
SEGRO (SGRO) 815.80p -0.56%