Share Prices & Company Research

Market News

18 Jan 2021 | 16:14

FTSE 100 movers: Defensives slip, Banks wanted

(Sharecast News) - The top-flight index was trading slightly lower in later afternoon trading, weighed down slightly by interest rate sensitive and defensive stocks such as BT Group, United Utilities and Hikma Pharmaceuticals.

Some of 2020's best performers, including Ferguson and Hikma Pharmaceuticals, were also seeing some profit-taking.

Nevertheless, JP Morgan analysts had waded in with a very positive research note on BT Group, which they named one of their favourites in the telco space, pointing to its valuation and "favourable catalysts" to back up their investment case.

The same investment bank also reiterated its 'overweight' on Bank shares on Monday, citing "a number of supports for Banks this time around: robust balance sheets without a need for dilution, better credit market backdrop, attractive valuations, potential for some consolidation, likely return of dividends, tailwind from the move up in bond yields and the steeper yield curve, and crucially better earnings backdrop."

Hence the gains in shares of Barclays and NatWest Group.

Burberry Group was also wanted, helped by a target price revision by Deutsche Bank from 1,600.0p to 1,800.0p, alongside better-than-expected Chinese gross domestic product figures for 2020 released overnight.

Market Movers

FTSE 100 (UKX) 6,715.19 -0.30%

FTSE 100 - Risers

Ocado Group (OCDO) 2,571.00p 2.31% Barclays (BARC) 151.04p 1.51% Mondi (MNDI) 1,835.00p 1.41% Coca-Cola HBC AG (CDI) (CCH) 2,334.00p 1.26% Barratt Developments (BDEV) 702.60p 1.01% Associated British Foods (ABF) 2,271.00p 0.98% NATWEST GROUP PLC ORD 100P (NWG) 160.10p 0.98% Burberry Group (BRBY) 1,732.00p 0.93% Entain (ENT) 1,414.50p 0.93% Evraz (EVR) 505.40p 0.92%

FTSE 100 - Fallers

Ferguson (FERG) 9,066.00p -2.16% United Utilities Group (UU.) 920.40p -1.75% BT Group (BT.A) 138.40p -1.74% Hikma Pharmaceuticals (HIK) 2,496.00p -1.73% Flutter Entertainment (FLTR) 14,770.00p -1.70% Standard Life Aberdeen (SLA) 299.50p -1.58% BAE Systems (BA.) 487.80p -1.57% Pearson (PSON) 667.60p -1.53% InterContinental Hotels Group (IHG) 4,775.00p -1.51% Rolls-Royce Holdings (RR.) 104.40p -1.42%

Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.