FTSE 100 movers: Housebuilders rally on broker note; AstraZeneca falls

by | Dec 10, 2021

London’s FTSE 100 was down 0.2% at 7,309.15 in afternoon trade on Friday as investors mulled UK GDP and US inflation data.
Cybersecurity firm Darktrace was the biggest loser on the index.

Elsewhere, AstraZeneca fell, giving back some gains after saying on Thursday that its Evusheld antibody combination had been granted emergency use authorisation by the US FDA for the prevention of Covid-19 in adults and adolescents who are immunocompromised.

Going the other way, housebuilder Berkeley Group rallied after price target upgrades at Citigroup, Barclays and JPMorgan.

Citi said: “We believe management’s guidance on the earnings growth trajectory (profit before tax growth circa 5% per annum and PBT of c.£625m by FY25) reflects confidence in the underlying demand, with good visibility on the project pipeline and underpinned by a significant reduction in long-term supply.”

Meanwhile, in a note on the broader sector, JPM maintained its preference for the overweight-rated stock and lifted its price target to 5,540p from 5,500p.

Peer Taylor Wimpey also benefited from upbeat comments from JPM, which upped its price target on the overweight-rated stock to 230p from 220p.

FTSE 100 – Risers

British American Tobacco (BATS) 2,746.00p 2.04%
Berkeley Group Holdings (The) (BKG) 4,818.00p 1.69%
Phoenix Group Holdings (PHNX) 658.40p 1.20%
London Stock Exchange Group (LSEG) 6,718.00p 1.14%
Taylor Wimpey (TW.) 170.75p 1.01%
Evraz (EVR) 606.60p 0.93%
Glencore (GLEN) 372.25p 0.91%
Sage Group (SGE) 825.80p 0.88%
BT Group (BT.A) 178.20p 0.88%
Associated British Foods (ABF) 1,948.50p 0.75%

FTSE 100 – Fallers

Darktrace (DARK) 402.40p -2.90%
Entain (ENT) 1,646.50p -2.20%
AstraZeneca (AZN) 8,183.00p -2.14%
Melrose Industries (MRO) 148.00p -1.60%
Kingfisher (KGF) 336.00p -1.58%
Scottish Mortgage Inv Trust (SMT) 1,401.50p -1.48%
Rentokil Initial (RTO) 626.20p -1.45%
Aveva Group (AVV) 3,267.00p -1.33%
Whitbread (WTB) 2,905.00p -1.09%
Compass Group (CPG) 1,531.00p -1.07%

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