(Sharecast News) - London's FTSE 100 was up 0.66% at 10,761.29 in afternoon trade on Monday.
Technology and services provider Computacenter traded higher on Monday after announcing it had delivered another stronger‑than‑expected quarter, prompting the group to lift its full‑year guidance after a robust performance across both technology sourcing and services.
Defence stocks pushed higher after reports suggested chancellor John Healey was preparing to borrow billions to boost military spending in the upcoming Budget. Rolls‑Royce, Melrose, Babcock and BAE Systems all advanced after reports claimed Healey was expected to channel extra defence funding through public finance institutions, using the National Wealth Fund and British Business Bank to raise capital without breaching the government's fiscal rules.
Fresnillo and Endeavour Mining got a boost from increased gold prices.
Going the other way, Sage traded lower after analysts at Canaccord Genuity downgraded the stock from 'buy' to 'hold' on Monday, but nudged their target price up from 1,135p to 1,230p, noting that the shares have rallied hard and now look fairly valued after a strong run through 2026. Canaccord Genuity said its early‑year upgrade to 'buy' had been driven by what it saw as an overdone "SaaS‑pocalypse" narrative and attractive valuation, with Sage still growing annual recurring revenues at around 10%. However, it said the stock's more than 45% rally has now taken valuation back to more normal levels.
Elsewhere, Relx headed south despite analysts at UBS maintaining their 'buy' recommendation on the stock.
Reporting by Iain Gilbert at Sharecast.com
FTSE 100 - Risers
Computacenter (CCC) 5,030.00p 9.91%
Babcock International Group (BAB) 993.80p 5.79%
Rolls-Royce Holdings (RR.) 1,203.40p 4.04%
InterContinental Hotels Group (IHG) 167.10p 3.63%
International Consolidated Airlines Group SA (CDI) (IAG) 409.20p 3.62%
Diploma (DPLM) 7,115.00p 3.48%
3i Group (III) 2,357.00p 3.37%
Kingfisher (KGF) 357.50p 3.20%
Melrose Industries (MRO) 464.50p 2.96%
Antofagasta (ANTO) 3,114.00p 2.82%
FTSE 100 - Fallers
Experian (EXPN) 3,005.00p -3.19%
Autotrader Group (AUTO) 529.20p -2.62%
Smith & Nephew (SN.) 1,136.50p -1.73%
The Sage Group (SGE) 1,172.50p -1.43%
London Stock Exchange Group (LSEG) 9,388.00p -1.37%
Relx plc (REL) 3,011.00p -1.09%
Diageo (DGE) 1,771.00p -0.81%
BP (BP.) 637.20p -0.70%
Tesco (TSCO) 534.60p -0.59%
Coca-Cola HBC AG (CDI) (CCH) 4,534.00p -0.57%