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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: British American Tobacco rallies; Admiral hit by downgrade

(Sharecast News) - London's FTSE 100 was up 1.3% at 7,133.07 in afternoon trade on Friday. British American Tobacco was among the risers after JPMorgan Cazenove placed the shares on 'positive catalyst watch' and lifted the price target to 4,500p from 4,000p.

"We update our model ahead of H122 results scheduled for Wednesday, 27th July, and now sit 8% ahead of company consensus H1 next generation product sales and 3% ahead on EPS," it said.

Luxury fashion brand Burberry was under the cosh, however, as it said first-quarter same-store sales increased just 1% year-on-year as revenues were impacted by lockdowns across mainland China.

Rio Tinto lost ground after the miner sounded a cautious note on the outlook in its second-quarter production results.

Admiral was weaker after a downgrade to 'underweight' at JPMorgan Cazenove.

FTSE 100 - Risers

Rolls-Royce Holdings (RR.) 89.33p 4.70% Rentokil Initial (RTO) 512.00p 4.26% Harbour Energy (HBR) 328.30p 4.16% Airtel Africa (AAF) 155.00p 3.61% Smith (DS) (SMDS) 282.40p 3.44% BP (BP.) 376.35p 3.41% Shell (SHEL) 2,001.50p 3.36% British American Tobacco (BATS) 3,476.00p 3.28% JD Sports Fashion (JD.) 126.85p 2.55% Centrica (CNA) 87.74p 2.52%

FTSE 100 - Fallers

Burberry Group (BRBY) 1,560.00p -5.37% London Stock Exchange Group (LSEG) 7,434.00p -2.52% United Utilities Group (UU.) 1,028.00p -2.23% Severn Trent (SVT) 2,811.00p -1.64% Admiral Group (ADM) 1,903.00p -1.58% Rio Tinto (RIO) 4,498.50p -1.50% Entain (ENT) 1,091.00p -1.13% Croda International (CRDA) 6,572.00p -0.90% Halma (HLMA) 2,079.00p -0.81% Flutter Entertainment (CDI) (FLTR) 7,586.00p -0.63%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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