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23 Jun, 2022 14:37

FTSE 100 movers: Ocado recovers after heavy losses; British Land goes ex-div

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OcadoCompany photo / Ocado Group

London’s FTSE 100 was down 0.7% at 7,042.93 in afternoon trade on Thursday.

British Land and United Utilities both slumped as they traded without entitlement to the dividend.

Ocado was the standout gainer on index, having tumbled on Wednesday, likely on expectations that it will lose out to discounters such as Aldi and Lidl as the cost-of-living crisis intensifies.

Rentokil also gained after an upgrade to ‘buy’ from ‘hold’ at Deutsche Bank.

DB said the wider pest control industry has experienced consistent growth through the cycle in the USA, with no year of nominal revenue decline since 1988, and only four in real terms.

"We believe this should result in a resilient performance in the event of weakening economy," DB said. “Industry data indicates prices are rising to offset costs.”

DB also said the Terminix deal has the potential to be significantly value-enhancing.

Elsewhere, GlaxoSmithKline gained as it said it will invest £1bn over ten years to accelerate research and development into infectious diseases such as malaria and tuberculosis that disproportionately impact lower-income countries.

FTSE 100 - Risers

Ocado Group (OCDO) 851.00p 3.81%
Berkeley Group Holdings (The) (BKG) 3,776.00p 2.72%
BT Group (BT.A) 185.20p 2.01%
BAE Systems (BA.) 773.00p 1.71%
Avast (AVST) 523.40p 1.32%
Hikma Pharmaceuticals (HIK) 1,520.00p 1.16%
Rentokil Initial (RTO) 465.10p 1.11%
Burberry Group (BRBY) 1,620.50p 0.93%
B&M European Value Retail S.A. (DI) (BME) 375.70p 0.91%
GSK (GSK) 1,719.60p 0.81%

FTSE 100 - Fallers

British Land Company (BLND) 476.70p -5.68%
United Utilities Group (UU.) 978.00p -3.83%
Pershing Square Holdings Ltd NPV (PSH) 2,385.00p -3.64%
Antofagasta (ANTO) 1,201.00p -3.46%
Rolls-Royce Holdings (RR.) 83.15p -3.44%
Fresnillo (FRES) 785.40p -3.42%
Endeavour Mining (EDV) 1,743.00p -3.27%
WPP (WPP) 797.40p -2.92%
NATWEST GROUP PLC ORD 100P (NWG) 221.60p -2.81%
Intertek Group (ITRK) 4,220.00p -2.76%


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We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.