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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 tumbles; Centrica recovers

(Sharecast News) - London's FTSE 100 was down 1.6% at 7,170.20 in afternoon trade on Thursday. Aerospace and defence giant Rolls-Royce was the standout loser on the index.

Glencore, Admiral and Antofagasta also lost ground as they traded without entitlement to the dividend.

On the upside, Centrica and SSE were among the risers, having fallen sharply a day earlier amid worries about the potential for a windfall tax on their profits.

Pearson rallied after JPMorgan Cazenove reinstated its 'overweight' rating on shares of the education publisher, highlighting its defensive qualities.

JPM said it believes that Pearson is "walking the walk" and is making good progress on delivering on its strategy.

The bank said Pearson is no 1 ranked in MediaScreen, its quant-based overlay that applies the style cycle to the media sector.

"Its defensive qualities, low risk, good quality and strong earnings momentum suggest that it has the attributes for further outperformance during the current contraction phase of the cycle," JPM said.

FTSE 100 - Risers

Centrica (CNA) 77.08p 1.77% JD Sports Fashion (JD.) 114.65p 1.51% Pearson (PSON) 875.60p 1.48% SSE (SSE) 1,674.00p 1.30% Avast (AVST) 715.20p 1.16% Imperial Brands (IMB) 1,900.00p 0.18% Meggitt (MGGT) 798.20p 0.00% Aveva Group (AVV) 2,800.00p 0.00% AstraZeneca (AZN) 10,624.00p -0.19% Rightmove (RMV) 605.80p -0.30%

FTSE 100 - Fallers

Rolls-Royce Holdings (RR.) 71.07p -7.70% Glencore (GLEN) 438.65p -7.32% Entain (ENT) 1,182.50p -7.11% Intermediate Capital Group (ICP) 1,284.00p -6.07% 3i Group (III) 1,151.50p -5.27% Admiral Group (ADM) 2,012.00p -5.18% British Land Company (BLND) 409.00p -5.06% Melrose Industries (MRO) 129.75p -4.95% Flutter Entertainment (CDI) (FLTR) 10,240.00p -4.88% Antofagasta (ANTO) 1,048.50p -4.77%

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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.