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FTSE 100 movers: Entain boosted by upgrade; DCC slumps
(Sharecast News) - London's FTSE 100 was flat at 8,604.70 in afternoon trade on Tuesday. Entain shot to the top of the index after UBS upgraded the shares to 'buy' from 'neutral' and lifted the price target to 920p from 820p.
It said the Ladbrokes owner has been steadily progressing on its key operational frontiers over the past year, yet the shares have underperformed, declining 8% in a rising sector.
"In short, the company is yet to be rewarded for its underlying improvements through 2024," UBS said.
DCC tumbled after the sales, marketing and support services group's full-year revenues missed expectations.
Russ Mould, investment director at AJ Bell, said: "Irish conglomerate DCC is among the many companies following the 'shrink to greatness' strategy, offloading parts of its business to focus on what it does best. This process is still ongoing and it's a disappointment to see full-year earnings come in below expectations.
"DCC's future is in the energy sector and it's fortunate that part of its business was the strongest. In a way, it justifies the decision to slim down.
"The problem child was the technology division, which is a concern given that DCC is on a mission to improve performance before selling the business. It needs to work fast to whip the tech arm into shape."
FTSE 100 - Risers
Entain (ENT) 763.80p 6.00% International Consolidated Airlines Group SA (CDI) (IAG) 318.90p 2.31% Persimmon (PSN) 1,373.50p 2.19% Next (NXT) 12,200.00p 2.05% Sainsbury (J) (SBRY) 275.20p 2.00% easyJet (EZJ) 541.80p 1.84% Taylor Wimpey (TW.) 119.25p 1.79% St James's Place (STJ) 1,081.50p 1.69% Anglo American (AAL) 2,196.50p 1.60% Ashtead Group (AHT) 4,376.00p 1.51%
FTSE 100 - Fallers
DCC (CDI) (DCC) 4,758.00p -6.15% British American Tobacco (BATS) 3,024.00p -2.01% SEGRO (SGRO) 652.60p -1.92% GSK (GSK) 1,375.00p -1.75% Diageo (DGE) 2,139.00p -1.75% Haleon (HLN) 397.60p -1.58% Imperial Brands (IMB) 2,902.00p -1.29% Unilever (ULVR) 4,592.00p -1.12% Land Securities Group (LAND) 590.50p -1.01% Severn Trent (SVT) 2,608.00p -0.99%
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