FTSE 100 movers: Kingfisher boosted by upgrade; BP, Shell gush lower

(Sharecast News) - London's FTSE 100 was up 0.8% at 10,770.93 in afternoon trade on Thursday. Utilities were on the rise, with National Grid and SSE the top two performers on the index.

B&Q and Castorama owner Kingfisher was also higher after Deutsche Bank upgraded the shares to 'hold' from 'sell' and lifted the price target to 300p from 260p. DB said there had been a sequential improvement in its tracked data points despite overall weakness in the European consumer outlook.

The bank said it was increasing its estimate for FY27 pre-tax profit by 4% to £605m, which while ahead of consensus of £580m sits marginally above the mid-point of the £565m to £625m guidance range.

"We downgraded Kingfisher to sell in December 2025 on UK cost pressures and weaker macro outlook but the earnings and share price are only down marginally since then," the bank said. "With industry datapoints improving despite the macro overhang, we see limited scope for a change to full-year guidance at the 1H stage and accordingly upgrade to hold."

On the downside, Marks & Spencer was weaker after Goldman Sachs cut its price target on the food, clothing and homeware retailer to 470p from 490p, maintaining a 'buy' rating.

JD Sports was also in the red as BofA trimmed its price target to 82p from 96p and kept a 'neutral' rating. JD is due to release full-year results next Wednesday.

Oil giants BP and Shell gushed lower as oil prices retreated.

FTSE 100 - Risers

National Grid (NG.) 1,145.50p 3.24% SSE (SSE) 2,468.00p 2.66% Halma (HLMA) 3,542.00p 2.49% Scottish Mortgage Inv Trust (SMT) 1,512.50p 2.47% Kingfisher (KGF) 308.10p 2.36% Rolls-Royce Holdings (RR.) 1,473.00p 2.17% Weir (WEIR) 2,694.00p 2.05% Anglo American (AAL) 3,999.00p 1.91% 3i Group (III) 2,717.00p 1.84% Computacenter (CCC) 5,375.00p 1.80%

FTSE 100 - Fallers

Marks & Spencer Group (MKS) 364.60p -1.70% JD Sports Fashion (JD.) 75.64p -1.15% IG Group Holdings (IGG) 1,313.00p -0.98% BP (BP.) 559.00p -0.94% Shell (SHEL) 3,551.50p -0.59% Haleon (HLN) 338.30p -0.53% Centrica (CNA) 151.65p -0.26% London Stock Exchange Group (LSEG) 8,190.00p -0.24% Intertek Group (ITRK) 5,855.00p -0.17% Reckitt Benckiser Group (RKT) 5,048.00p -0.16%