FTSE 100 movers: Ocado shines after upgrade; Antofagasta slides

by | Feb 2, 2022

London’s FTSE 100 was up 0.7% at 7,591.00 in afternoon trade on Wednesday.
Ocado shares surged to the top of the index after Credit Suisse upgraded the online supermarket to ‘outperform’ from ‘underperform’ and hiked its price target to 1,750p from 1,500p as it argued that current levels offer a buying opportunity.

The bank cited greater confidence in the depth of existing partnerships after the launch of Ocado Re:Imagine and potentially higher TAM (total available market) for new and more flexible solutions. CS also said a share price correction of around 50% over the last 12 months reflects key risks and the bank’s key concerns, suggesting limited downside.

Auto Trader rallied after an upgrade to ‘buy’ from ‘hold’ at Jefferies.

Telecoms giant Vodafone gained after it reported higher third-quarter services revenue, driven by growth in Europe and Africa as it reiterated annual guidance.

On the downside, Chilean copper miner Antofagasta was in the red after a top policymaker in Chile indicated that the government would need to raise taxes amid concerns about inflation.

BAE Systems was knocked lower by a rating downgrade at JPMorgan.

FTSE 100 – Risers

Ocado Group (OCDO) 1,527.50p 6.74%
Barratt Developments (BDEV) 638.20p 4.04%
Auto Trader Group (AUTO) 698.00p 3.32%
Vodafone Group (VOD) 131.72p 2.94%
Coca-Cola HBC AG (CDI) (CCH) 2,535.00p 2.92%
Spirax-Sarco Engineering (SPX) 13,660.00p 2.78%
Aveva Group (AVV) 3,022.00p 2.68%
Halma (HLMA) 2,570.00p 2.64%
Taylor Wimpey (TW.) 155.45p 2.61%
Sage Group (SGE) 737.20p 2.59%

FTSE 100 – Fallers

Antofagasta (ANTO) 1,294.00p -4.96%
Rolls-Royce Holdings (RR.) 115.60p -1.38%
BAE Systems (BA.) 572.40p -1.38%
Hikma Pharmaceuticals (HIK) 2,043.00p -0.92%
Fresnillo (FRES) 644.40p -0.80%
BP (BP.) 390.40p -0.74%
Kingfisher (KGF) 332.20p -0.72%
Polymetal International (POLY) 1,074.50p -0.65%
International Consolidated Airlines Group SA (CDI) (IAG) 159.32p -0.62%
Avast (AVST) 607.80p -0.49%

Related articles

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x