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.
(Sharecast News) - London's FTSE 100 was down 0.1% at 10,700.65 in afternoon trade on Wednesday.
Rentokil rallied as Investec upgraded the stock to 'buy' from 'hold'.
BP gushed higher as JPMorgan upgraded the oil giant to 'overweight' from 'neutral' and lifted the price target to 675p from 550p. It noted that BP's recent history has been chequered, with operational inconsistencies, strategic inconsistencies and a balance sheet poison pill.
JPM said its 'overweight' these is centred on balance sheet repair, simplification, renewed long-term upstream growth optionality and a competitive valuation.
Metlen Energy & Metals was also boosted by a research note from JPM, which initiated coverage of the stock at 'overweight'.
On the downside, Autotrader slumped amid worries about the threat from new agentic AI tools.
JD Sports Fashion fell as it posted a slide in half-year earnings as it warned that the tough conditions seen in the first half were set to continue. The retailer reported a 0.7% decline in sales to £5.9bn in the 26 weeks to 1 August, with like-for-like sale down 2.8%. Operating profits were 20.5% lower at £294m.
The group called it a "resilient" performance amid a challenging backdrop, including cost-of-living pressures, footwear product cycle headwinds and widespread promotional activity. But it acknowledged that a number of these conditions were likely to persist into the second half.
FTSE 100 - Risers
Burberry Group (BRBY) 1,049.50p 2.44%
Rentokil Initial (RTO) 322.80p 1.96%
BP (BP.) 550.60p 1.60%
Lion Finance Group (BGEO) 14,170.00p 1.51%
Relx plc (REL) 2,485.00p 1.43%
London Stock Exchange Group (LSEG) 8,270.00p 1.42%
Shell (SHEL) 3,546.50p 1.10%
Scottish Mortgage Inv Trust (SMT) 1,589.00p 1.05%
Babcock International Group (BAB) 986.80p 1.02%
Metlen Energy & Metals (MTLN) 48.89p 0.99%
FTSE 100 - Fallers
Autotrader Group (AUTO) 465.30p -4.15%
JD Sports Fashion (JD.) 75.44p -4.01%
Melrose Industries (MRO) 472.00p -3.16%
Antofagasta (ANTO) 3,750.00p -2.47%
Spirax Group (SPX) 7,140.00p -2.26%
Tesco (TSCO) 471.30p -2.10%
St James's Place (STJ) 1,095.50p -2.06%
Fresnillo (FRES) 2,939.00p -1.90%
IG Group Holdings (IGG) 1,339.00p -1.83%
NATWEST GROUP (NWG) 683.80p -1.78%
