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FTSE 100 movers: JD Sports recovers; miners gain in tandem with metals prices
(Sharecast News) - London's FTSE 100 was up 0.7% at 8,502.35 in afternoon trade on Friday. JD Sports was the standout gainer, having fallen a day earlier after Citi downgraded its stance on the shares 'neutral' from 'buy' and cut its price target to 95p from 150p as it pointed to a weaker growth outlook.
The bank said it was updating estimates following soft peak trading and the company's full-year guidance downgrade.
Citi cut its forecast for FY25 like-for-like and organic growth to 0.0% and 5%, respectively, from 1.1% and 6.4% growth, previously.
Miners Antofagasta, Glencore and Rio Tinto were all up as base metals prices rose.
Russ Mould, investment director at AJ Bell, said: "Copper, aluminium, lead, zinc and tin all saw higher prices amid a weaker dollar. Metals are typically priced in dollars and a decline in the US currency makes the commodities cheaper for buyers holding other currencies.
"Also putting a shine on metals prices was speculation that Donald Trump might not take the nuclear option regarding tariffs on China, potentially imposing a lower rate than has previously been suggested."
FTSE 100 - Risers
JD Sports Fashion (JD.) 84.76p 3.75% Antofagasta (ANTO) 1,779.50p 2.86% Diageo (DGE) 2,456.50p 2.29% Glencore (GLEN) 381.00p 2.01% Fresnillo (FRES) 691.50p 1.92% Mondi (MNDI) 1,227.50p 1.91% Prudential (PRU) 664.00p 1.84% WPP (WPP) 740.00p 1.82% Spirax Group (SPX) 7,730.00p 1.44% Rio Tinto (RIO) 5,018.00p 1.42%
FTSE 100 - Fallers
Convatec Group (CTEC) 236.60p -2.07% Taylor Wimpey (TW.) 116.45p -1.81% Compass Group (CPG) 2,691.00p -1.79% Centrica (CNA) 135.20p -1.74% Marks & Spencer Group (MKS) 327.00p -1.74% Auto Trader Group (AUTO) 765.80p -1.69% SSE (SSE) 1,557.50p -1.67% United Utilities Group (UU.) 967.60p -1.53% Barclays (BARC) 294.20p -1.49% National Grid (NG.) 955.40p -1.48%
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