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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: Ocado rallies; AB Foods goes ex-div

(Sharecast News) - London's FTSE 100 was up 0.9% at 7,617.80 in afternoon trade on Thursday. Ocado was the standout gainer on the index despite a downbeat note from Goldman Sachs, which slashed its price target on the shares from 900p to 700p and maintained a 'neutral' rating. The bank said there wasn't much upside from here on in.

A trader pointed out that Ocado is a high beta name and said it was just rallying in a good market, with tech stocks more broadly doing well.

Labdrokes owner Entain surged for the second day in a row, having jumped on Wednesday after it announced the immediate departure of chief executive officer Jette Nygaard-Andersen.

On the downside, Primark owner Associated British Foods was weaker as it traded without entitlement to the dividend.

FTSE 100 - Risers

Ocado Group (OCDO) 707.40p 10.47% Entain (ENT) 917.20p 8.76% Ashtead Group (AHT) 5,368.00p 7.91% Kingfisher (KGF) 244.50p 7.33% Endeavour Mining (EDV) 1,809.00p 7.21% Croda International (CRDA) 5,070.00p 6.49% St James's Place (STJ) 720.20p 6.29% Anglo American (AAL) 1,771.60p 6.07% Land Securities Group (LAND) 702.60p 5.97% Barclays (BARC) 149.36p 5.87%

FTSE 100 - Fallers

Relx plc (REL) 3,071.00p -3.09% Admiral Group (ADM) 2,698.00p -1.89% Centrica (CNA) 143.45p -1.88% Associated British Foods (ABF) 2,397.00p -1.76% BAE Systems (BA.) 1,051.50p -1.45% 3i Group (III) 2,365.00p -1.26% Pearson (PSON) 945.40p -1.15% Haleon (HLN) 322.60p -0.69% Unilever (ULVR) 3,769.50p -0.64% HSBC Holdings (HSBA) 615.80p -0.24%

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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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