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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: Segro boosted by upgrade; Endeavour in the red

(Sharecast News) - London's FTSE 100 was up 0.4% at 7,489.02 in afternoon trade on Monday. Ladbrokes owner Entain rallied after La Francaise des Jeux made a €2.45bn offer for Swedish online gaming firm Kindred.

Segro gained as Citi upgraded the shares to 'buy' from 'neutral', saying it estimates that as rates decline, the risk to its previous estimates of deep recession rent declines reverses and it now expects growth.

"Combined with lower debt and bond yield forecasts, our estimates of a circa 20% decline in asset value reverses to circa 15% growth, significantly increasing our forward net asset value estimates," the bank said.

"Downside risk in the real estate sector has eased but has not been eliminated so our upgrade of Segro is a cautions way to increase investment risk in the real estate sector, while offering downside protection should conditions deteriorate back towards our deeper recession view."

Endeavour Mining fell after saying it achieved production guidance in 2023 but that costs were higher than expected.

FTSE 100 - Risers

Entain (ENT) 943.40p 2.90% Persimmon (PSN) 1,479.50p 2.89% JD Sports Fashion (JD.) 114.15p 2.61% Auto Trader Group (AUTO) 729.40p 2.33% DCC (CDI) (DCC) 5,742.00p 2.32% Barratt Developments (BDEV) 535.00p 2.10% Pershing Square Holdings Ltd NPV (PSH) 3,692.00p 1.99% SEGRO (SGRO) 844.40p 1.91% Rightmove (RMV) 538.60p 1.85% NATWEST GROUP (NWG) 211.80p 1.83%

FTSE 100 - Fallers

Endeavour Mining (EDV) 1,348.00p -2.53% Glencore (GLEN) 402.40p -2.40% Rio Tinto (RIO) 5,266.00p -2.10% Anglo American (AAL) 1,749.20p -1.38% Reckitt Benckiser Group (RKT) 5,516.00p -1.15% Haleon (HLN) 324.85p -1.11% SSE (SSE) 1,737.50p -1.11% BAE Systems (BA.) 1,162.50p -0.98% Smurfit Kappa Group (CDI) (SKG) 2,892.00p -0.96% GSK (GSK) 1,550.20p -0.86%

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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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