Search Share Prices

FTSE 100 movers: Fresnillo boosted by gold price; M&S down ahead of results

London's FTSE 100 was up 0.4% to 7,889.14 in afternoon trade on Tuesday.
Precious metals miner Fresnillo was in the black as gold prices rose, while Glencore was trading higher as JPMorgan Cazenove added the stock to its European Best Equity Ideas list.

Retailer Marks & Spencer was under the cosh as it confirmed the closure of 100 stores by 2022, 21 of which have already been closed and ahead of its results on Wednesday, which could determine whether the company gets to stay in the FTSE 100.

CMC Markets analyst Michael Hewson said: "M&S is in a particularly difficult position squeezed as it is between the presence of Zara and the recovery of Next in general merchandise, while also feeling the pressure from its food peers Waitrose and Tesco.

"Having refused to partake in last years end of year discounting the company had a disappointing Christmas period."

Royal Mail was in the red as JPMorgan Cazenove downgraded the stock to 'neutral' from 'overweight' due to the recent re-rating in the share price, the lack of positive catalysts ahead and a more operationally challenged period.

JPM, which upped its price target on the stock to 561p from 530p, said the revenue outlook for the company is broadly unchanged, with UKPIL revenue likely to remain around flat over time.

It expects a stronger parcels environment - possibly due to temporary Amazon trends - to broadly offset a weaker letters market. In addition, it argued that incremental parcel revenue growth has a higher variable cost component, such that its ability to fall-through to profitability is more limited.

National Grid was also weaker after regulator Ofgem said it was launching an investigation into its UK transmission business, while retailer Next retreated even as AlphaValue upped its rating to 'reduce'.

Risers

Mediclinic International (MDC) 692.60p 4.31%
Fresnillo (FRES) 1,320.50p 3.98%
Micro Focus International (MCRO) 1,386.00p 3.28%
Glencore (GLEN) 393.05p 1.38%
easyJet (EZJ) 1,787.00p 1.33%
Royal Bank of Scotland Group (RBS) 296.20p 1.30%
Melrose Industries (MRO) 244.90p 1.24%
Mondi (MNDI) 2,106.00p 1.10%
Randgold Resources Ltd. (RRS) 5,800.00p 1.08%
Vodafone Group (VOD) 197.36p 1.07%

Fallers

TUI AG Reg Shs (DI) (TUI) 1,759.50p -2.82%
Marks & Spencer Group (MKS) 293.20p -2.40%
Paddy Power Betfair (PPB) 8,660.00p -1.48%
Royal Mail (RMG) 549.20p -1.22%
BP (BP.) 586.40p -1.08%
Reckitt Benckiser Group (RB.) 5,900.00p -0.81%
National Grid (NG.) 881.40p -0.72%
Smith & Nephew (SN.) 1,322.00p -0.68%
Next (NXT) 5,840.00p -0.58%
Royal Dutch Shell 'B' (RDSB) 2,825.00p -0.56%

Related Share Prices