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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: Next slides on outlook; miners rally

(Sharecast News) - London's FTSE 100 was down 2% at 6,864.28 in afternoon trade on Thursday. Barratt Developments was the biggest loser on the index as it traded without entitlement to the dividend.

At the same time, housebuilders in general were weaker amid concerns about the impact of higher interest rates.

Next slid after the clothing and homeware retailer cut its sales and profits forecast on the back of the weakening economic outlook, including the recent turmoil in currency markets.

Next now expects full-price second-half sales to be down 1.5% on the previous year, compared to earlier guidance for growth of 1%, while full-year profits forecasts have been trimmed to £840m from £860m.

Miners Anglo American, Glencore, Rio Tinto and Antofagasta were among the top performers.

FTSE 100 - Risers

Anglo American (AAL) 2,800.50p 2.64% BAE Systems (BA.) 823.40p 1.81% Fresnillo (FRES) 758.80p 1.39% Rolls-Royce Holdings (RR.) 67.62p 1.38% Glencore (GLEN) 486.30p 1.15% Rio Tinto (RIO) 4,902.00p 0.99% Admiral Group (ADM) 1,939.50p 0.67% Haleon (HLN) 279.95p 0.45% Reckitt Benckiser Group (RKT) 6,094.00p 0.43% Antofagasta (ANTO) 1,105.50p 0.36%

FTSE 100 - Fallers

Barratt Developments (BDEV) 325.00p -12.33% Next (NXT) 4,799.00p -9.86% Ocado Group (OCDO) 482.80p -7.58% Taylor Wimpey (TW.) 84.68p -6.90% Smurfit Kappa Group (CDI) (SKG) 2,503.00p -6.85% Rightmove (RMV) 473.50p -6.35% Melrose Industries (MRO) 98.88p -5.51% Whitbread (WTB) 2,313.00p -5.20% Smith (DS) (SMDS) 248.60p -5.04% Persimmon (PSN) 1,187.00p -5.04%

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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.

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