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FTSE 100 movers: Traders take profits on Ocado surge; Sage gains on JPM upgrade
(Sharecast News) - With little corporate news to drive the market, traders indulged in profit taking on the back of yesterday's surge in mining stocks and Ocado Ocado shares have been on a run since last week amid speculation it could be a takeover target for Amazon.
Another spike followed when it emerged that Lingotto, the new fund backed by Italy's billionaire Agnelli dynasty raised its stake in Ocado despite the online grocer having proved to be the biggest drag on its portfolio last year.
The purchase lifted Lingotto's holding above the 5% and was completed on June 23.
Sage shares jumped 4% as JP Morgan said the stock could reach 1100p. The upgrade came after an update in May revealed further strong progress as Sage rolls out cloud-based accounting services to more SME business customers.
Admiral dropped after JP Morgan placed it on "negative catalyst watch".
FTSE 100 - Risers
Sage Group (SGE) 915.60p 4.83% CRH (CDI) (CRH) 4,336.00p 3.16% Land Securities Group (LAND) 582.80p 3.00% SEGRO (SGRO) 729.80p 2.96% Pershing Square Holdings Ltd NPV (PSH) 2,804.00p 2.94% Abrdn (ABDN) 215.50p 2.86% Ashtead Group (AHT) 5,480.00p 2.62% Experian (EXPN) 2,991.00p 2.22% NATWEST GROUP (NWG) 235.80p 2.12% Spirax-Sarco Engineering (SPX) 10,290.00p 2.03%
FTSE 100 - Fallers
Ocado Group (OCDO) 510.00p -8.57% Admiral Group (ADM) 2,079.00p -2.76% Anglo American (AAL) 2,250.00p -1.32% Glencore (GLEN) 436.35p -0.90% Reckitt Benckiser Group (RKT) 5,966.00p -0.83% Fresnillo (FRES) 603.60p -0.53% Antofagasta (ANTO) 1,475.50p -0.51% Rio Tinto (RIO) 5,020.00p -0.44% Imperial Brands (IMB) 1,749.00p -0.31% Haleon (HLN) 318.45p -0.27%
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