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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Defensives gain; Burberry out of fashion

Tue 03 Oct 2023 13:33

(Sharecast News) - London's FTSE 100 was down 0.4% at 7,484.80 in afternoon trade on Tuesday. HSBC, GSK and Unilever were among the top gainers.

Russ Mould, investment director at AJ Bell, said investors were "flocking to park their money" in defensives and financials "which should benefit from rates staying higher for longer".

On the downside, Burberry was under the cosh after a downgrade to 'sell' from 'neutral' at UBS. The bank said: "We turn more cautious on BRBY...due to risks to its turnaround in the current environment."

Miners were on the back foot as commodity prices were dented by a stronger dollar. Anglo American, Antofagasta and Glencore all fell.

Utilities were also in the red, with United Utilities and Severn Trent both down. News of an explosion at one of the latter's recycling plants after a lightning strike was likely weighing on the shares.

FTSE 100 - Risers

Flutter Entertainment (CDI) (FLTR) 13,455.00p 1.59% HSBC Holdings (HSBA) 648.40p 1.34% Pearson (PSON) 868.00p 1.24% Haleon (HLN) 341.95p 1.15% GSK (GSK) 1,500.60p 1.12% Unilever (ULVR) 4,064.50p 0.99% Diageo (DGE) 3,037.00p 0.96% Rightmove (RMV) 559.00p 0.83% Intertek Group (ITRK) 4,115.00p 0.73% DCC (CDI) (DCC) 4,538.00p 0.62%

FTSE 100 - Fallers

Ocado Group (OCDO) 560.40p -4.50% United Utilities Group (UU.) 915.20p -3.72% Burberry Group (BRBY) 1,831.00p -3.30% JD Sports Fashion (JD.) 144.90p -2.82% Anglo American (AAL) 2,175.00p -2.75% Antofagasta (ANTO) 1,377.50p -2.65% Airtel Africa (AAF) 120.70p -2.58% Glencore (GLEN) 452.30p -2.50% Severn Trent (SVT) 2,293.00p -2.38% BT Group (BT.A) 112.95p -2.38%

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