FTSE 100 movers: LSEG gains after lifting outlook; Entain hit by downgrade

(Sharecast News) - London's FTSE 100 was down 0.1% at 10,463.84 in afternoon trade on Thursday. Heavily-weighted miners Anglo American and Antofagasta were the top gainers on the index.

LSEG also rallied as it lifted its full-year revenue outlook following record first-quarter venue.

The company now expects FY revenue growth to be in the upper half of its 6.5% to 7.5% guidance range. It also expects an improvement in the constant currency EBITDA margin of 80 to 100 basis points, while equity free cash flow is expected to be at least £2.7bn.

Entain was under the cosh after Bank of America downgraded the Ladbrokes owner to 'neutral' from 'buy' and cut the price target to 700p from 870p as it pointed to rising competition from prediction markets and slowing UK growth.

The bank said it sees downside risks at BetMGM - its joint venture with MGM Resorts - amid competition from US prediction markets.

It said the UK performance has been good so far. However, growth may be peaking as new taxes come into effect.

It also said market share gains are unlikely in the near term and cut its 2025-28 earnings per share estimates by 5% to 15%, leaving them 2% to 14% below consensus expectations.

Fresnillo, Legal & General and Rightmove all lost ground as they traded without entitlement to the dividend.

Sainsbury's slumped as the supermarket retailer cautioned that full-year profits could fall this year amid an uncertain outlook due to the impact of the war on Iran. Tesco was also in the red.

In the year to 28 February 2026, retail underlying operating profit nudged down 1.1% to £1.0bn, in line with guidance. This reflects significant operating cost inflation and investment in value in a more competitive market, the retailer said.

For the current financial year, total underlying operating profit of between £975m and £1.075bn is expected as the duration and extent of impacts from the Middle East conflict are "very uncertain".

FTSE 100 - Risers

Anglo American (AAL) 3,783.00p 4.44% Antofagasta (ANTO) 3,889.50p 2.91% Airtel Africa (AAF) 369.80p 2.44% SSE (SSE) 2,667.50p 1.73% British American Tobacco (BATS) 4,208.00p 1.54% London Stock Exchange Group (LSEG) 9,892.00p 1.54% Vodafone Group (VOD) 115.70p 1.36% M&G (MNG) 296.50p 1.23% Imperial Brands (IMB) 2,785.00p 1.16% BT Group (BT.A) 219.05p 1.16%

FTSE 100 - Fallers

Entain (ENT) 557.60p -6.11% Fresnillo (FRES) 3,455.00p -5.93% Legal & General Group (LGEN) 253.40p -5.66% Sainsbury (J) (SBRY) 335.30p -4.90% The Sage Group (SGE) 886.40p -3.92% Experian (EXPN) 2,777.50p -3.63% Rightmove (RMV) 437.10p -3.45% Tesco (TSCO) 479.25p -3.10% Relx plc (REL) 2,663.00p -2.81% BAE Systems (BA.) 2,052.50p -2.77%