FTSE 100 movers: Defence firms rally; M&G goes ex-div.


London’s FTSE 100 was up 0.6% at 9,284.68 in afternoon trade on Thursday.

BAE Systems Typhoon alongside Spitfire

Source: Sharecast

Defence firm BAE Systems, Babcock and Rolls-Royce were among the top performers.

Russ Mould, investment director at AJ Bell, said: "Ongoing geopolitical tensions have led investors to have confidence in the defence sector, believing earnings prospects are strong given a fragile backdrop. BAE Systems’ share price has risen by 45% over the past 12 months and up 271% over five years."

Compass Group was also in the black as Deutsche Bank upgraded shares of the caterer to ‘buy’ from ‘hold’ as it took a look at the hotel and leisure sector.

It lifted its price target on Compass - its top pick along with Premier Inn owner Whitbread - to 2,900 from 2,700p.

On the downside, M&G slumped as it traded without entitlement to the dividend.

Ashtead also lost ground as Jefferies downgraded the shares to ‘hold’ from ‘buy’.

"Ashtead’s shares have rallied strongly and re-rated on improving US construction outlook sentiment, but near-term earnings momentum we think remains muted," Jefferies said.

FTSE 100 - Risers

BAE Systems (BA.) 1,916.00p 4.59%
Compass Group (CPG) 2,597.00p 2.24%
Airtel Africa (AAF) 229.00p 1.87%
ICG (ICG) 2,238.00p 1.63%
Diploma (DPLM) 5,525.00p 1.56%
Rolls-Royce Holdings (RR.) 1,115.50p 1.46%
BT Group (BT.A) 204.50p 1.39%
Fresnillo (FRES) 2,202.00p 1.29%
Babcock International Group (BAB) 1,114.00p 1.27%
easyJet (EZJ) 466.70p 1.21%

FTSE 100 - Fallers

M&G (MNG) 251.30p -2.56%
Experian (EXPN) 3,827.00p -1.75%
Kingfisher (KGF) 242.90p -1.18%
SEGRO (SGRO) 612.20p -1.16%
Ashtead Group (AHT) 5,372.00p -0.89%
Entain (ENT) 869.20p -0.73%
Rightmove (RMV) 724.60p -0.71%
Anglo American (AAL) 2,513.00p -0.71%
Auto Trader Group (AUTO) 782.60p -0.71%
InterContinental Hotels Group (IHG) 8,976.00p -0.62%

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