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FTSE 100 movers: AB Foods rallies; Anglo hit by downgrade

London’s FTSE 100 was up 0.5% at 7,179.70 in afternoon trade on Tuesday.
Just Eat was a high riser after it completed the acquisition of Grubhub.

Primark owner Associated British Foods was also in the black, with traders pointing to readacross from a positive first-quarter update from Boohoo.

Equipment rental firm Ashtead gained as it hiked its dividend and posted a 23% jump in fourth-quarter revenues.

On the downside, miner Anglo American was knocked lower by a downgrade to ‘sector perform’ from ‘outperform’ at RBC Capital Markets. The bank noted that Anglo shares are up 28% year-to-date, outperforming the sector by 14%.

“For the first time in a while we see growing headwinds that could see shares consolidate,” it said. “Still a favoured long-term exposure, with arguably the best set-up for the next 10 years, but we would look to take some profit for now.”

FTSE 100 – Risers

BT Group (BT.A) 197.60p 3.00%
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,547.00p 2.92%
Halma (HLMA) 2,870.00p 2.83%
Associated British Foods (ABF) 2,355.00p 2.75%
Ashtead Group (AHT) 5,224.00p 2.71%
Spirax-Sarco Engineering (SPX) 13,540.00p 2.61%
Ferguson (FERG) 9,868.00p 2.56%
British American Tobacco (BATS) 2,860.00p 2.31%
Admiral Group (ADM) 3,176.00p 2.12%
Pearson (PSON) 867.60p 1.95%

FTSE 100 – Fallers

Flutter Entertainment (CDI) (FLTR) 13,075.00p -4.42%
Anglo American (AAL) 3,011.00p -3.26%
Intermediate Capital Group (ICP) 2,270.00p -2.99%
Glencore (GLEN) 319.85p -2.38%
Antofagasta (ANTO) 1,496.50p -2.32%
Entain (ENT) 1,773.50p -2.10%
Smith (DS) (SMDS) 437.70p -1.77%
British Land Company (BLND) 506.20p -1.67%
Fresnillo (FRES) 848.20p -1.58%
Land Securities Group (LAND) 708.80p -1.36%

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