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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: M&S boosted by upgrade; DCC goes ex-div

(Sharecast News) - London's FTSE 100 was down 0.9% at 8,709.38 in afternoon trade on Thursday. Hiscox was the standout performer on the index following its capital markets day.

Marks & Spencer rallied as Jefferies upped its recommendation on the shares to 'buy' from 'hold', despite the blue chip being hit by a major cyberattack.

Jefferies said: "The business continues to demonstrate strong fundamental growth in a buoyant UK consumer environment, buyside expectations for profit delivery in 2025/26 have moderated to more sustainable levels [and] we find no evidence at this stage that the cyberattack will impact medium-term share gains."

It also upped the price target, to 440p from 370p.

Convatec was in the black as it hailed a strong start to the year and said it was on track to deliver targets.

BT Group reversed earlier losses even as it posted an unexpected fall in annual revenues and pointed to further declines over the coming year.

DCC lost ground as it traded without entitlement to the dividend.

Intertek fell despite saying it had a good start to the year and is well positioned to deliver a "robust" performance in 2025.

FTSE 100 - Risers

Hiscox Limited (DI) (HSX) 1,256.00p 5.19% JD Sports Fashion (JD.) 85.38p 2.72% Pershing Square Holdings Ltd NPV (PSH) 3,812.00p 2.31% Marks & Spencer Group (MKS) 381.10p 1.71% Convatec Group (CTEC) 278.40p 1.16% Beazley (BEZ) 929.50p 1.14% BAE Systems (BA.) 1,831.50p 0.69% BT Group (BT.A) 170.40p 0.68% Auto Trader Group (AUTO) 897.00p 0.63% Fresnillo (FRES) 1,091.00p 0.55%

FTSE 100 - Fallers

DCC (CDI) (DCC) 4,546.00p -4.78% Intermediate Capital Group (ICG) 1,994.00p -3.58% Intertek Group (ITRK) 4,758.00p -3.29% Persimmon (PSN) 1,321.50p -3.26% Smurfit Westrock (DI) (SWR) 3,281.00p -2.99% Taylor Wimpey (TW.) 116.85p -2.83% Diageo (DGE) 2,073.00p -2.81% Barratt Redrow (BTRW) 455.60p -2.79% Experian (EXPN) 3,773.00p -2.78% Kingfisher (KGF) 301.70p -2.65%

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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.