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FTSE 100 movers: Ocado rallies; AB Foods goes ex-div
(Sharecast News) - London's FTSE 100 was up 0.9% at 7,617.80 in afternoon trade on Thursday. Ocado was the standout gainer on the index despite a downbeat note from Goldman Sachs, which slashed its price target on the shares from 900p to 700p and maintained a 'neutral' rating. The bank said there wasn't much upside from here on in.
A trader pointed out that Ocado is a high beta name and said it was just rallying in a good market, with tech stocks more broadly doing well.
Labdrokes owner Entain surged for the second day in a row, having jumped on Wednesday after it announced the immediate departure of chief executive officer Jette Nygaard-Andersen.
On the downside, Primark owner Associated British Foods was weaker as it traded without entitlement to the dividend.
FTSE 100 - Risers
Ocado Group (OCDO) 707.40p 10.47% Entain (ENT) 917.20p 8.76% Ashtead Group (AHT) 5,368.00p 7.91% Kingfisher (KGF) 244.50p 7.33% Endeavour Mining (EDV) 1,809.00p 7.21% Croda International (CRDA) 5,070.00p 6.49% St James's Place (STJ) 720.20p 6.29% Anglo American (AAL) 1,771.60p 6.07% Land Securities Group (LAND) 702.60p 5.97% Barclays (BARC) 149.36p 5.87%
FTSE 100 - Fallers
Relx plc (REL) 3,071.00p -3.09% Admiral Group (ADM) 2,698.00p -1.89% Centrica (CNA) 143.45p -1.88% Associated British Foods (ABF) 2,397.00p -1.76% BAE Systems (BA.) 1,051.50p -1.45% 3i Group (III) 2,365.00p -1.26% Pearson (PSON) 945.40p -1.15% Haleon (HLN) 322.60p -0.69% Unilever (ULVR) 3,769.50p -0.64% HSBC Holdings (HSBA) 615.80p -0.24%
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