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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: Shell slumps on profit warning; RS rallies

(Sharecast News) - London's FTSE 100 was down 0.9% at 6,992.17 in afternoon trade on Thursday. Shell slumped as it warned third-quarter profits would be hit by a sharp decline in oil refining margins and weaker natural gas trading.

Kingfisher, Centrica and DS Smith were all lower as they traded without entitlement to the dividend.

Anglo American retreated after a downgrade to 'hold' from 'buy' at Berenberg.

The bank said it was downgrading the stock "on poor operational delivery and a deteriorating macroeconomic sentiment, which we think will weigh on the shares until we see operational delivery and/or better macro sentiment".

RS Group - formerly Electrocomponents - was a high riser as it said full-year revenue and adjusted pre-tax profit were set to be "slightly ahead" of current consensus estimates following strong trading year to date. For the year ending 31 March 2023, consensus estimates are for revenue of £2.86bn and adjusted pre-tax profit of £357.7m.

FTSE 100 - Risers

Flutter Entertainment (CDI) (FLTR) 10,600.00p 2.66% SEGRO (SGRO) 742.80p 2.57% Entain (ENT) 1,155.00p 2.35% Convatec Group (CTEC) 213.00p 2.31% Fresnillo (FRES) 821.80p 2.14% RS Group (RS1) 1,027.00p 2.09% Ashtead Group (AHT) 4,413.00p 2.08% Prudential (PRU) 946.00p 2.07% Informa (INF) 543.00p 2.07% Ocado Group (OCDO) 464.90p 1.93%

FTSE 100 - Fallers

Shell (SHEL) 2,275.00p -4.35% Kingfisher (KGF) 216.30p -4.08% Centrica (CNA) 68.76p -3.99% Smith (DS) (SMDS) 249.80p -3.37% Anglo American (AAL) 2,786.50p -2.91% Rolls-Royce Holdings (RR.) 71.87p -2.77% St James's Place (STJ) 1,005.00p -2.33% SSE (SSE) 1,505.50p -2.14% Standard Chartered (STAN) 570.60p -2.06% Bunzl (BNZL) 2,750.00p -1.89%

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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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