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FTSE 100 movers: Analysts cut target for Rolls Royce, buyers seek out Ocado
1st Apr 2020 16:40
(Sharecast News) - London's FTSE 100 was down 3.16% to 5,493 as of 1601 GMT, mimicking falls across the Continent and over on the other side of the Pond.
Some analysts linked the declines to the start of the new month and quarter, warning that moves in financial markets might be less reliable than usual on Tuesday due to those same calendar-related effects, although yet others believed the start of the new fiscal year in Japan, also on 1 April, might alleviate some of the selling pressure in global markets.
Travel-related issues were pacing declines on the top-flight index, alongside steep falls for engineers such as Meggitt and Rolls Royce, alongside big drops in the likes of Lloyds and Barclays.
Going the other way it was a similar tale to other 'risk-off' days, with Ocado at the top of the leaderboard, alongside shares in Morrisons and Sainsbury, but also for Royal Dutch Shell.
Analysts at Goldman Sachs kept their ' Conviction buy' for shares of Rolls Royce, but slashed their target price from 1,160.0p to 683.0p.
Over at Morgan Stanley meanwhile, shares of Meggitt were upgraded from 'equal weight' to 'overweight' but the broker cut its target price for the same from 570.0p to 382.0p.
Market Movers
FTSE 100 (UKX) 5,490.48 -3.20%
FTSE 100 - Risers
Ocado Group (OCDO) 1,324.50p 8.57%
British American Tobacco (BATS) 2,878.00p 4.31%
Imperial Brands (IMB) 1,548.00p 3.42%
Royal Dutch Shell 'A' (RDSA) 1,446.80p 1.96%
Admiral Group (ADM) 2,263.00p 1.48%
Sainsbury (J) (SBRY) 213.50p 1.47%
Morrison (Wm) Supermarkets (MRW) 180.60p 1.46%
Hikma Pharmaceuticals (HIK) 2,062.00p 1.33%
Royal Dutch Shell 'B' (RDSB) 1,376.80p 1.25%
Reckitt Benckiser Group (RB.) 6,142.00p -0.13%
FTSE 100 - Fallers
Carnival (CCL) 795.80p -18.91%
Meggitt (MGGT) 251.90p -13.23%
Melrose Industries (MRO) 80.82p -11.67%
Persimmon (PSN) 1,708.50p -10.85%
Lloyds Banking Group (LLOY) 28.73p -10.22%
WPP (WPP) 495.30p -10.17%
Auto Trader Group (AUTO) 394.70p -10.11%
Aviva (AV.) 242.50p -9.68%
Rolls-Royce Holdings (RR.) 307.70p -9.66%
Next (NXT) 3,688.00p -9.43%
Some analysts linked the declines to the start of the new month and quarter, warning that moves in financial markets might be less reliable than usual on Tuesday due to those same calendar-related effects, although yet others believed the start of the new fiscal year in Japan, also on 1 April, might alleviate some of the selling pressure in global markets.
Travel-related issues were pacing declines on the top-flight index, alongside steep falls for engineers such as Meggitt and Rolls Royce, alongside big drops in the likes of Lloyds and Barclays.
Going the other way it was a similar tale to other 'risk-off' days, with Ocado at the top of the leaderboard, alongside shares in Morrisons and Sainsbury, but also for Royal Dutch Shell.
Analysts at Goldman Sachs kept their ' Conviction buy' for shares of Rolls Royce, but slashed their target price from 1,160.0p to 683.0p.
Over at Morgan Stanley meanwhile, shares of Meggitt were upgraded from 'equal weight' to 'overweight' but the broker cut its target price for the same from 570.0p to 382.0p.
Market Movers
FTSE 100 (UKX) 5,490.48 -3.20%
FTSE 100 - Risers
Ocado Group (OCDO) 1,324.50p 8.57%
British American Tobacco (BATS) 2,878.00p 4.31%
Imperial Brands (IMB) 1,548.00p 3.42%
Royal Dutch Shell 'A' (RDSA) 1,446.80p 1.96%
Admiral Group (ADM) 2,263.00p 1.48%
Sainsbury (J) (SBRY) 213.50p 1.47%
Morrison (Wm) Supermarkets (MRW) 180.60p 1.46%
Hikma Pharmaceuticals (HIK) 2,062.00p 1.33%
Royal Dutch Shell 'B' (RDSB) 1,376.80p 1.25%
Reckitt Benckiser Group (RB.) 6,142.00p -0.13%
FTSE 100 - Fallers
Carnival (CCL) 795.80p -18.91%
Meggitt (MGGT) 251.90p -13.23%
Melrose Industries (MRO) 80.82p -11.67%
Persimmon (PSN) 1,708.50p -10.85%
Lloyds Banking Group (LLOY) 28.73p -10.22%
WPP (WPP) 495.30p -10.17%
Auto Trader Group (AUTO) 394.70p -10.11%
Aviva (AV.) 242.50p -9.68%
Rolls-Royce Holdings (RR.) 307.70p -9.66%
Next (NXT) 3,688.00p -9.43%