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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: Rolls-Royce rallies on upgrade; HL hit by downgrade

(Sharecast News) - London's FTSE 100 was up 0.5% at 7,920.86 in afternoon trade on Monday. Engine maker Rolls-Royce surged to the top of the index after an upgrade to 'buy' from 'underperform' at Bank of America Merrill Lynch, which upped its price target to 175p from 97p.

Last week, the shares rocketed after RR posted a better-than-expected rise in full-year operating profit as the post-pandemic recovery in international travel continued.

Online supermarket Ocado was also in the black a day ahead of its full-year results. Tesco and Sainsbury's also gained.

On the downside, Hargreaves Lansdown was knocked lower by a downgrade to 'sell' at Citi.

FTSE 100 - Risers

Rolls-Royce Holdings (RR.) 142.30p 4.60% Prudential (PRU) 1,252.00p 2.92% Tesco (TSCO) 254.00p 2.88% Sainsbury (J) (SBRY) 270.40p 2.81% Smurfit Kappa Group (CDI) (SKG) 3,139.00p 2.55% Ocado Group (OCDO) 626.40p 2.49% Smith (DS) (SMDS) 338.30p 2.42% Melrose Industries (MRO) 150.20p 2.39% Flutter Entertainment (CDI) (FLTR) 13,365.00p 2.30% Burberry Group (BRBY) 2,451.00p 2.25%

FTSE 100 - Fallers

Airtel Africa (AAF) 120.90p -2.18% M&G (MNG) 209.00p -1.09% Hargreaves Lansdown (HL.) 835.00p -0.88% Fresnillo (FRES) 764.80p -0.52% HSBC Holdings (HSBA) 632.90p -0.44% Johnson Matthey (JMAT) 2,142.00p -0.37% SEGRO (SGRO) 822.80p -0.36% British American Tobacco (BATS) 3,207.00p -0.30% Haleon (HLN) 325.90p -0.24% Smith & Nephew (SN.) 1,212.50p -0.21%

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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.