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FTSE 100 movers: Fresnillo shines; IAG flies lower
(Sharecast News) - London's FTSE 100 was up 0.2% at 7,472.30 in afternoon trade on Thursday. Precious metals miner Fresnillo shone as gold prices edged up. Oanda analyst Craig Erlam said: "Gold is creeping higher again, adding to yesterday's gains which came in risk-averse trade.
"The yellow metal remains well supported against the backdrop of high inflation and commodity price surges, not to mention waves of risk-aversion in these highly uncertain times."
M&G was among the risers after the investment manager launched a £500m share buyback, while British American Tobacco was boosted by an upgrade to 'overweight' at JPMorgan.
Shroders, Ferguson and Pearson were all weaker as they traded without entitlement to the dividend.
BA and Iberia owner IAG was knocked lower by a downgrade to 'hold' from 'buy' at Deutsche Bank. It pointed to a less positive outlook for EU airlines after the shares have rallied 20% from the lows reached on 7 March in the aftermath of Russia's invasion of Ukraine.
DB cut its price target on IAG to 155p from 220p.
FTSE 100 - Risers
Fresnillo (FRES) 760.40p 4.74% M&G (MNG) 221.90p 2.64% BT Group (BT.A) 185.75p 2.09% NATWEST GROUP PLC ORD 100P (NWG) 224.20p 1.77% Auto Trader Group (AUTO) 653.20p 1.62% Rio Tinto (RIO) 5,889.00p 1.53% Hikma Pharmaceuticals (HIK) 2,110.00p 1.49% British American Tobacco (BATS) 3,237.50p 1.46% B&M European Value Retail S.A. (DI) (BME) 581.60p 1.43% Rentokil Initial (RTO) 515.40p 1.42%
FTSE 100 - Fallers
Schroders (SDR) 3,149.00p -3.17% Ferguson (FERG) 10,870.00p -3.16% Next (NXT) 6,196.00p -2.94% Howden Joinery Group (HWDN) 779.60p -2.72% International Consolidated Airlines Group SA (CDI) (IAG) 135.14p -2.64% Barratt Developments (BDEV) 524.20p -2.31% Glencore (GLEN) 500.90p -2.01% Pearson (PSON) 764.80p -1.90% Scottish Mortgage Inv Trust (SMT) 1,007.50p -1.85% Flutter Entertainment (CDI) (FLTR) 8,796.00p -1.81%
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