FTSE 100 movers: Smith & Nephew rallies; Hargreaves Lansdown hit by downgrade
By Michele Maatouk
Date: Wednesday 01 Jul 2020
(Sharecast News) - London's FTSE 100 was up 0.2% at 6,181.01 in afternoon trade on Wednesday.
Medical equipment maker Smith & Nephew was the standout gainer after saying it expects second-quarter revenue to drop by around 29% but noted an improving performance as the quarter progressed.
Credit-checking firm Experian was also on the rise as Citi upped its price target on the stock to 3,250p and said it continues to view the company as a core European business services holding despite its relative re-rating. It noted that Experian is one of the few sector companies under coverage not to cut its dividend this year.
On the downside, investment platform Hargreaves Lansdown was the worst performer after a downgrade to 'sell' by Citi, which pointed to an "expected weaker FY21 and valuation".
St James's Place was also in the red as Citi remained 'neutral' on the stock, highlighting a lack of near-term catalysts.
FTSE 100 - Risers
Smith & Nephew (SN.) 1,588.00p 5.48%
DCC (DCC) 6,844.00p 1.69%
Burberry Group (BRBY) 1,621.50p 1.38%
Experian (EXPN) 2,855.00p 1.28%
Rentokil Initial (RTO) 515.60p 1.18%
SEGRO (SGRO) 905.20p 1.14%
Bunzl (BNZL) 2,186.00p 0.92%
Melrose Industries (MRO) 114.60p 0.53%
Berkeley Group Holdings (The) (BKG) 4,186.00p 0.50%
BP (BP.) 308.40p 0.39%
FTSE 100 - Fallers
Hargreaves Lansdown (HL.) 1,542.00p -5.31%
Informa (INF) 453.20p -3.66%
ITV (ITV) 72.06p -3.51%
Rolls-Royce Holdings (RR.) 275.80p -3.36%
Evraz (EVR) 279.40p -3.12%
Homeserve (HSV) 1,268.00p -2.84%
International Consolidated Airlines Group SA (CDI) (IAG) 216.50p -2.57%
BT Group (BT.A) 111.45p -2.28%
St James's Place (STJ) 933.20p -2.06%
Taylor Wimpey (TW.) 139.75p -2.00%
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