London’s FTSE 100 was down 0.4% at 7,158.84 in afternoon trade on Tuesday.
Ocado was the worst performer on the index after UBS cut its price target to 2,100p from 2,300p as it said the company remains “the most credible online grocery solution provider” but challenges are growing.
On the upside, packaging group DS Smith gained after it said trading was continuing to strengthen due to high demand for its boxes despite significant cost increases. The company said it had excellent volume growth in the past four months and had made good progress in recovering higher production costs by raising prices.
Box volumes rose very strongly compared with a year earlier and the same period in 2019 as increased ecommerce and a shift away from plastic packaging supported demand. Growth was especially strong in the US and southern Europe and with big consumer goods companies.
FTSE 100 – Risers
Smith (DS) (SMDS) 462.50p 2.85%
Whitbread (WTB) 3,265.00p 2.54%
Anglo American (AAL) 3,133.00p 1.77%
Burberry Group (BRBY) 1,966.00p 1.60%
Rightmove (RMV) 739.60p 1.09%
Rio Tinto (RIO) 5,393.00p 1.05%
Smurfit Kappa Group (CDI) (SKG) 4,319.00p 1.01%
Reckitt Benckiser Group (RKT) 5,775.00p 0.96%
Flutter Entertainment (CDI) (FLTR) 14,735.00p 0.92%
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,109.00p 0.79%
FTSE 100 – Fallers
Berkeley Group Holdings (The) (BKG) 4,704.00p -2.00%
Smiths Group (SMIN) 1,426.00p -1.99%
Ocado Group (OCDO) 1,977.50p -1.96%
B&M European Value Retail S.A. (DI) (BME) 540.00p -1.71%
Rentokil Initial (RTO) 583.40p -1.59%
AstraZeneca (AZN) 8,512.00p -1.54%
Kingfisher (KGF) 347.50p -1.47%
HSBC Holdings (HSBA) 382.00p -1.36%
Coca-Cola HBC AG (CDI) (CCH) 2,600.00p -1.33%
Legal & General Group (LGEN) 279.70p -1.31%
