FTSE 100 movers: Ex-dividends weigh; Ocado rallies
London’s FTSE 100 was down 0.2% at 7,415.35 in afternoon trade on Thursday amid renewed concern about trade relations between the US and China.
Vodafone, National Grid, Severn Trent and Johnson Matthey fell as their stock went ex-dividend.
Speciality chemicals company Johnson Matthey was also hit by a downgrade to ‘underweight’ from ’neutral’ at JPMorgan, which cut its price target to 2,850p from 3,400p. JPM pointed to "increasing growth headwinds" as it reduced its FY20/21 EBIT estimates by 2%/6% and adjusted earnings per share estimates by 7%/9%.
Rental equipment firm Ashtead was hit knocked lower by a downgrade to ‘hold’ at HSBC.
On the upside, Ocado was on the rise as it announced the location of a sixth customer fulfilment centre in the UK to support the growth plans of its retail division. The grocery retailer and fulfilment technology company said it would be Ocado Retail's first ‘mini’ fulfilment centre, and would be located in Bristol.
Phoenix Group was in the green as it said in a trading update that 2019 cash generation was ahead of target.
Land Securities and British Land were boosted by upgrades to ‘overweight’ at Morgan Stanley.
FTSE 100 - Risers
Ocado Group (OCDO) 1,193.50p 2.36%
St James's Place (STJ) 1,115.50p 1.64%
Phoenix Group Holdings (PHNX) 744.80p 1.55%
Land Securities Group (LAND) 961.00p 1.33%
Hargreaves Lansdown (HL.) 1,906.50p 1.14%
Reckitt Benckiser Group (RB.) 6,107.00p 0.99%
Tesco (TSCO) 236.80p 0.98%
Next (NXT) 6,892.00p 0.91%
BHP Group (BHP) 1,742.20p 0.89%
British Land Company (BLND) 579.00p 0.80%
FTSE 100 - Fallers
Vodafone Group (VOD) 154.42p -3.75%
Evraz (EVR) 365.30p -2.53%
National Grid (NG.) 899.80p -2.46%
Ashtead Group (AHT) 2,384.00p -2.45%
London Stock Exchange Group (LSE) 6,886.00p -1.99%
Severn Trent (SVT) 2,290.00p -1.97%
NMC Health (NMC) 2,553.00p -1.88%
Ferguson (FERG) 6,878.00p -1.80%
Antofagasta (ANTO) 889.40p -1.75%
Johnson Matthey (JMAT) 2,910.00p -1.69%