FTSE 100 movers: GVC hit by downgrade; JD Sports in fashion
London’s FTSE 100 was down 0.9% at 5,883.17 in afternoon trade on Tuesday.
GVC Holdings was weaker after a downgrade to ‘equalweight’ from ‘overweight’ at Barclays, which cut its price target to 900p from 1,000p.
Housebuilders Persimmon and Barratt Developments were on the back foot amid worries about a hard Brexit.
On the upside, packaging company DS Smith was in the black after saying it will pay an interim dividend as trading has improved.
JD Sports Fashion rose after it forecast annual pre-tax profits of at least £265m as it scrapped an interim dividend and reported a slump in half-year earnings caused by the coronavirus pandemic.
Credit-checking firm Experian rallied as it lifted its second-quarter expectations following stronger trading in July and August.
Equipment rental firm Ashtead was trading up even after it reported a 35% decline in first-quarter profit as it took a hit from the Covid-19 pandemic and subsequent lockdowns.
In the first quarter to the end of July, underlying pre-tax profit fell to £208m from £319m in the same period a year ago, with rental revenue down 8% to £1.08bn.
FTSE 100 - Risers
Smith (DS) (SMDS) 291.20p 6.71%
JD Sports Fashion (JD.) 763.60p 5.38%
RSA Insurance Group (RSA) 459.40p 4.20%
Aviva (AV.) 285.50p 2.70%
Sainsbury (J) (SBRY) 188.90p 1.92%
Diageo (DGE) 2,589.00p 1.79%
Imperial Brands (IMB) 1,347.00p 1.78%
Experian (EXPN) 2,848.00p 1.75%
Ashtead Group (AHT) 2,726.00p 1.23%
Tesco (TSCO) 219.70p 1.10%
FTSE 100 - Fallers
Whitbread (WTB) 2,407.00p -5.27%
GVC Holdings (GVC) 789.60p -4.55%
Associated British Foods (ABF) 1,948.00p -4.42%
Rolls-Royce Holdings (RR.) 215.90p -4.26%
Scottish Mortgage Inv Trust (SMT) 860.00p -3.96%
Fresnillo (FRES) 1,270.00p -3.71%
Persimmon (PSN) 2,470.00p -3.70%
Barratt Developments (BDEV) 495.10p -3.68%
Aveva Group (AVV) 4,715.00p -3.52%
Melrose Industries (MRO) 118.05p -3.48%