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FTSE 100 movers: JD Sports rallies again; Melrose hit by downgrade
(Sharecast News) - London's FTSE 100 was up 0.3% at 8,315.10 in afternoon trade on Friday. JD Sports Fashion was the top gainer for the second day in a row, having risen on Thursday after saying it saw a return to like-for-like growth in its second quarter, with its store rollout programme in North America and Europe providing a boost while the UK market remains subdued.
LFL sales were 2.4% higher than last year in the three months to 3 August, following a 0.7% year-on-year decline in the first quarter.
The company maintained its profit guidance for the full year but said it "continues to be cautious on our outlook".
GKN Aerospace owner Melrose Industries was under the cosh after a downgrade to 'sell' from 'buy' by UBS, which slashed its price target on the stock to 400p from 770p.
FTSE 100 - Risers
JD Sports Fashion (JD.) 144.50p 1.87% Fresnillo (FRES) 554.00p 1.84% Airtel Africa (AAF) 114.60p 1.78% Pershing Square Holdings Ltd NPV (PSH) 3,664.00p 1.44% Diageo (DGE) 2,537.50p 1.42% Croda International (CRDA) 4,005.00p 1.29% B&M European Value Retail S.A. (DI) (BME) 443.70p 1.07% Lloyds Banking Group (LLOY) 58.90p 1.03% Severn Trent (SVT) 2,501.00p 1.01% Prudential (PRU) 671.40p 0.99%
FTSE 100 - Fallers
Melrose Industries (MRO) 473.40p -7.36% Admiral Group (ADM) 2,931.00p -0.68% BAE Systems (BA.) 1,308.50p -0.65% Sage Group (SGE) 1,010.00p -0.64% NATWEST GROUP (NWG) 343.10p -0.52% Haleon (HLN) 371.00p -0.38% Persimmon (PSN) 1,695.50p -0.32% 3i Group (III) 3,187.00p -0.31% Rio Tinto (RIO) 4,769.50p -0.30% Ashtead Group (AHT) 5,168.00p -0.27%
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