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FTSE 100 movers: Defence firms rally; St James's Place boosted by Citi note
(Sharecast News) - London's FTSE 100 was up 0.3% at 8,756.89 in afternoon trade on Monday. Defence firms BAE Systems and Rolls-Royce were among the top performers amid expectations of an increase in spending, as Prime Minister Keir Starmer said he was ready to put British troops on the ground in Ukraine if a peace deal with Russia is reached.
His comments came ahead of an emergency summit of European leaders in Paris about the conflict in Ukraine.
Banks were also on the rise, with Barclays leading the charge after well-received results last week.
St James's Place gained after Citi lifted its price target on the shares to 1,280p from 1,010p.
The bank reiterated its 'buy' rating on the stock as it updated its model ahead full-year results on 27 February.
"Our FUM estimates increase by 5%, driven by market appreciation and stronger-than-expected Q4 flows," it said.
Citi said this drive a circa 10% increase to its outer-year cash earnings per share estimates.
FTSE 100 - Risers
BAE Systems (BA.) 1,319.00p 7.41% Barclays (BARC) 304.65p 3.41% NATWEST GROUP (NWG) 442.20p 3.29% Schroders (SDR) 383.60p 3.23% Coca-Cola HBC AG (CDI) (CCH) 3,254.00p 2.01% Rolls-Royce Holdings (RR.) 634.80p 1.63% Melrose Industries (MRO) 640.80p 1.39% Reckitt Benckiser Group (RKT) 5,286.00p 1.34% Smurfit Westrock (DI) (SWR) 4,322.00p 1.34% St James's Place (STJ) 1,116.00p 1.27%
FTSE 100 - Fallers
SEGRO (SGRO) 715.00p -2.24% Phoenix Group Holdings (PHNX) 501.50p -2.24% Spirax Group (SPX) 7,740.00p -2.21% Unite Group (UTG) 863.00p -1.88% Airtel Africa (AAF) 143.10p -1.72% GSK (GSK) 1,412.50p -1.57% Flutter Entertainment (DI) (FLTR) 23,260.00p -1.57% Fresnillo (FRES) 787.00p -1.44% Land Securities Group (LAND) 584.00p -1.35% Croda International (CRDA) 3,205.00p -1.26%
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