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FTSE 100 movers: Autotrader rallies; Pearson, Relx in the red
(Sharecast News) - London's FTSE 100 was down 0.1% at 10,419.63 in afternoon trade on Friday. Autotrader was the standout gainer on the index. Earlier in the week, the shares were hit by a downgrade to 'hold' from 'buy' at Panmure Liberum, which slashed the price target to 420p from 830p.
Panmure said in a research note on Tuesday that the aftermath of the "disastrous" Deal Builder rollout had been worse than it expected.
It said the Deal Builder product was planned to be a core growth driver, but it looks unlikely that it will contribute materially in the next few years, and in its absence the broker is left questioning what Autotrader's next growth driver will be.
Elsewhere, BA and Iberia owner IAG flew higher amid hopes of a US-Iran peace deal.
On the downside, Pearson, Relx, Sage Group and Experian - which have been hit in recent months on worries about AI disruption - were all weaker.
FTSE 100 - Risers
Autotrader Group (AUTO) 440.30p 3.07% Convatec Group (CTEC) 203.80p 2.87% 3i Group (III) 2,318.00p 2.34% Burberry Group (BRBY) 1,206.00p 2.12% Metlen Energy & Metals (MTLN) 42.20p 2.06% Barclays (BARC) 460.40p 1.94% International Consolidated Airlines Group SA (CDI) (IAG) 433.90p 1.71% Rolls-Royce Holdings (RR.) 1,335.60p 1.70% Weir Group (WEIR) 2,462.00p 1.57% HSBC Holdings (HSBA) 1,401.40p 1.52%
FTSE 100 - Fallers
Pearson (PSON) 1,096.50p -2.45% British American Tobacco (BATS) 4,603.00p -2.06% Relx plc (REL) 2,398.00p -1.88% Tesco (TSCO) 433.00p -1.59% The Sage Group (SGE) 821.80p -1.48% Experian (EXPN) 2,537.00p -1.32% Babcock International Group (BAB) 1,096.50p -1.31% Diageo (DGE) 1,562.00p -1.20% Standard Life (SDLF) 778.00p -1.14% SSE (SSE) 2,379.00p -1.12%
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