Skip Header
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: Miners under the cosh; Dechra boosted by upgrade

(Sharecast News) - London's FTSE 100 was down 2.5% at 7,053.33 in afternoon trade on Tuesday. Miners were under the cosh as metals prices fell, with Anglo American, Glencoe and Antofagasta all lower. In particular, copper prices declined to a 17-month low.

Dechra Pharmaceuticals was the top gainer on the index after RBC Capital Markets upgraded the stock to 'outperform' from 'sector perform', citing an attractive entry point. "We think Dechra is a well-run compound growth story, benefiting from strong market trends, resilience to recession and will remain active in M&A," it said.

The bank cut its price target on the shares to 4,200p from 5,300p as it updated its valuation given the recent decrease in peer multiples.

"However, DPH's shares have come down significantly relative to that of its other high quality peers, and we think current levels provide an attractive entry point for what we see as a defensive business with good organic growth and history of solid execution," it said, hence the upgrade.

Retailer Next was also in the black after Exane BNP Paribas upgraded the shares to 'outperform' from 'neutral' and lifted the price target to 7,100p from 7,000p.

FTSE 100 - Risers

Dechra Pharmaceuticals (DPH) 3,636.00p 5.88% SEGRO (SGRO) 976.20p 2.69% Croda International (CRDA) 6,730.00p 2.34% Spirax-Sarco Engineering (SPX) 10,300.00p 1.68% 3i Group (III) 1,097.50p 1.15% Halma (HLMA) 2,022.00p 0.85% Next (NXT) 6,142.00p 0.72% Diageo (DGE) 3,518.00p 0.66% Auto Trader Group (AUTO) 562.60p 0.54% Sage Group (SGE) 636.00p 0.44%

FTSE 100 - Fallers

Anglo American (AAL) 2,598.50p -8.50% Rolls-Royce Holdings (RR.) 79.82p -7.77% Glencore (GLEN) 403.85p -7.11% Entain (ENT) 1,127.50p -7.01% Antofagasta (ANTO) 1,031.50p -6.82% Harbour Energy (HBR) 328.00p -6.26% WPP (WPP) 757.80p -5.89% Shell (SHEL) 2,074.00p -5.86% BP (BP.) 379.05p -5.58% Mondi (MNDI) 1,402.00p -5.24%

Share this article

Related Sharecast Articles

FTSE 100 movers: Experian surges; Burberry falls on results
(Sharecast News) - London's FTSE 100 was up 0.1% at 8,439.32 in afternoon trade on Wednesday.
FTSE 100 movers: Ocado surges; Anglo American in the red
(Sharecast News) - London's FTSE 100 was up 0.2% at 8,428.30 in afternoon trade on Tuesday.
FTSE 250 movers: Currys in favour; No appetite for Greggs
(Sharecast News) - FTSE 250 (MCX) 20,630.59 0.34%
FTSE 100 movers: Diploma rallies on guidance upgrade; BAE hit by downgrade
(Sharecast News) - London's FTSE 100 was down 0.2% at 8,421.35 in afternoon trade on Monday.

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.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.