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16 Oct, 2020 14:31

FTSE 100 movers: Rolls-Royce rallies on Boeing news; IAG flies lower

ep motor de rolls-royce
Motor de Rolls-RoyceIFS - Archivo

London’s FTSE 100 was up 1.3% at 5,909.77 in afternoon trade on Friday.

Engine maker Rolls-Royce was the top gainer after Europe’s aviation regulator said the Boeing 737 Max is safe enough to return to the skies before the end of the year. RR makes engines for Boeing.

Just Eat was higher after an upgrade to ‘buy’ at HSBC while Premier Inn owner Whitbread was boosted by an upgrade to ‘buy’ at Berenberg.

Luxury fashion Burberry was on the rise following well-received third-quarter results from LVMH Moet Hennessy Louis Vuitton.

JD Sports was boosted an upgrade to ‘sector perform’ from ‘underperform’ at RBC Capital Markets, which lifted its price target to 825p from 735p. RBC said it expects the UK to prove relatively resilient, due to higher conversion and stronger digital sales, while the US offers a strong self-help and recovery story.

The valuation is still fairly high but fair, RBC said, given JD's growth and prospect of increased profit before tax guidance in January.

On the downside, IAG flew lower after the Information Commissioner’s Office fined British Airways £20m for a data breach affecting more than 400,000 customers.

FTSE 100 - Risers

Rolls-Royce Holdings (RR.) 217.50p 11.48%
Just Eat Takeaway.Com N.V. (CDI) (JET) 9,986.00p 4.04%
Ocado Group (OCDO) 2,488.00p 3.54%
Smurfit Kappa Group (SKG) 3,172.00p 3.46%
Experian (EXPN) 3,072.00p 3.43%
Burberry Group (BRBY) 1,538.00p 3.39%
JD Sports Fashion (JD.) 803.60p 3.37%
Whitbread (WTB) 2,250.00p 3.31%
Scottish Mortgage Inv Trust (SMT) 1,075.00p 3.17%
Schroders (SDR) 2,826.00p 3.14%

FTSE 100 - Fallers

BT Group (BT.A) 100.20p -1.96%
International Consolidated Airlines Group SA (CDI) (IAG) 93.96p -1.88%
Land Securities Group (LAND) 530.50p -1.85%
Barratt Developments (BDEV) 541.40p -1.56%
Taylor Wimpey (TW.) 116.80p -1.48%
British Land Company (BLND) 361.10p -0.39%
Vodafone Group (VOD) 108.50p -0.37%
Glencore (GLEN) 162.80p 0.05%
SEGRO (SGRO) 931.20p 0.11%
Berkeley Group Holdings (The) (BKG) 4,350.00p 0.12%

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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

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.