FTSE 100 movers: Rolls-Royce rallies on upgrade; HL hit by downgrade

27th Feb 2023 14:09

(Sharecast News) - London's FTSE 100 was up 0.5% at 7,920.86 in afternoon trade on Monday.

Engine maker Rolls-Royce surged to the top of the index after an upgrade to 'buy' from 'underperform' at Bank of America Merrill Lynch, which upped its price target to 175p from 97p.

Last week, the shares rocketed after RR posted a better-than-expected rise in full-year operating profit as the post-pandemic recovery in international travel continued.

Online supermarket Ocado was also in the black a day ahead of its full-year results. Tesco and Sainsbury's also gained.

On the downside, Hargreaves Lansdown was knocked lower by a downgrade to 'sell' at Citi.

FTSE 100 - Risers

Rolls-Royce Holdings (RR.) 142.30p 4.60%

Prudential (PRU) 1,252.00p 2.92%

Tesco (TSCO) 254.00p 2.88%

Sainsbury (J) (SBRY) 270.40p 2.81%

Smurfit Kappa Group (CDI) (SKG) 3,139.00p 2.55%

Ocado Group (OCDO) 626.40p 2.49%

Smith (DS) (SMDS) 338.30p 2.42%

Melrose Industries (MRO) 150.20p 2.39%

Flutter Entertainment (CDI) (FLTR) 13,365.00p 2.30%

Burberry Group (BRBY) 2,451.00p 2.25%

FTSE 100 - Fallers

Airtel Africa (AAF) 120.90p -2.18%

M&G (MNG) 209.00p -1.09%

Hargreaves Lansdown (HL.) 835.00p -0.88%

Fresnillo (FRES) 764.80p -0.52%

HSBC Holdings (HSBA) 632.90p -0.44%

Johnson Matthey (JMAT) 2,142.00p -0.37%

SEGRO (SGRO) 822.80p -0.36%

British American Tobacco (BATS) 3,207.00p -0.30%

Haleon (HLN) 325.90p -0.24%

Smith & Nephew (SN.) 1,212.50p -0.21%