FTSE 100 movers: Entain boosted by Jefferies note; JMAT gives back some gains

by | Sep 4, 2023

(Sharecast News) – London’s FTSE 100 was up 0.2% at 7,481.74 in afternoon trade on Monday.
Ladbrokes and Coral owner Entain was the standout gainer on the index on the back of a research note by Jefferies.

The bank cut its price target on the shares but said: “Despite few shorter-term trading catalysts, we argue a low valuation, scrutiny around capital allocation and ongoing MGM speculation will underpin Entain’s shares.”

Jefferies kept its rating at ‘buy’.

Miner Glencore was also in the black as investors welcomed Chinese stimulus measures.

On the downside, specialty chemicals firm Johnson Matthey fell, having surged on Friday after Standard Industries nearly doubled its shareholding in the group to over 10%.

FTSE 100 – Risers

Entain (ENT) 1,184.50p 2.69%
Pearson (PSON) 857.20p 2.07%
Ocado Group (OCDO) 889.40p 2.04%
Glencore (GLEN) 435.80p 2.03%
Burberry Group (BRBY) 2,220.00p 1.74%
Rightmove (RMV) 568.00p 1.61%
Intertek Group (ITRK) 4,202.00p 1.40%
International Consolidated Airlines Group SA (CDI) (IAG) 161.50p 1.35%
Compass Group (CPG) 2,017.00p 1.23%
Experian (EXPN) 2,800.00p 1.16%

FTSE 100 – Fallers

Johnson Matthey (JMAT) 1,755.50p -1.95%
Admiral Group (ADM) 2,393.00p -1.52%
Endeavour Mining (EDV) 1,599.00p -1.30%
Hiscox Limited (DI) (HSX) 997.00p -1.19%
Fresnillo (FRES) 563.80p -0.95%
Standard Chartered (STAN) 713.80p -0.81%
B&M European Value Retail S.A. (DI) (BME) 569.40p -0.77%
Beazley (BEZ) 547.50p -0.73%
Vodafone Group (VOD) 73.12p -0.65%
CRH (CDI) (CRH) 4,524.00p -0.57%

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