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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: Kingfisher surges on guidance upgrade; Beazley slides

(Sharecast News) - London's FTSE 100 was up 0.6% at 9,596.29 in afternoon trade on Tuesday. B&Q owner Kingfisher shot to the top of the index as it upgraded its full-year outlook despite market conditions softening in the UK and Poland during the third quarter.

Profit guidance was lifted to between £540m to £570m, from £480m to £540m.

Lloyds, NatWest and Barclays rallied after the Financial Times reported that Chancellor Reeves was preparing to spare the sector from a tax raid in Wednesday's Budget.

On the downside, insurer Beazley tanked as it cut its forecast for growth in full-year insurance written premiums to flat to low single digits. In first-half results in August, the company had guided to FY premium growth of low-to-mid single digits.

Intertek slumped after group organic growth for July to October came in slightly weaker than expected at 4.1%, versus consensus of 4.5%.

Low cost airline easyJet flew lower even as it upgraded forecasts for its holiday division after posting a 9% rise in full-year pre-tax earnings to a better-than-expected £655m.

Catering firm Compass fell despite reporting strong underlying sales growth in the fiscal year to 30 September, driven by a solid performance in North America and good client retention.

FTSE 100 - Risers

Kingfisher (KGF) 307.80p 5.27% Airtel Africa (AAF) 309.00p 4.53% Metlen Energy & Metals (MTLN) 44.53p 3.31% Antofagasta (ANTO) 2,671.00p 2.97% Lloyds Banking Group (LLOY) 89.86p 2.84% NATWEST GROUP (NWG) 598.40p 2.64% Barratt Redrow (BTRW) 386.70p 2.19% Anglo American (AAL) 2,791.00p 2.05% Vodafone Group (VOD) 92.16p 1.97% Barclays (BARC) 408.35p 1.93%

FTSE 100 - Fallers

Beazley (BEZ) 782.50p -9.01% Intertek Group (ITRK) 4,652.00p -4.48% easyJet (EZJ) 464.30p -3.35% Compass Group (CPG) 2,380.00p -2.82% Auto Trader Group (AUTO) 639.40p -2.08% Fresnillo (FRES) 2,448.00p -2.00% Pearson (PSON) 990.00p -1.69% JD Sports Fashion (JD.) 72.64p -1.25% Severn Trent (SVT) 2,767.00p -1.18% Standard Chartered (STAN) 1,588.00p -1.15%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.