FTSE 100 movers: AstraZeneca rallies; travel shares under pressure

London’s FTSE 100 was down 0.2% at 7,949.25 in afternoon trade on Thursday.

AstraZeneca gained after announcing a 7% increase to the annual dividend. "This uplift is in line with our progressive dividend policy, which remains unchanged, and reflects the continuing strength of AstraZeneca's investment proposition for shareholders," said chair Michel Demaré.

B&& and Castorama owner Kingfisher was higher after HSBC upgraded the shares to ‘buy’ from ‘hold’ and lifted the price target to 305p from 235p.

This implies upside of 26% and is driven by an improved medium-term outlook, the bank said.

HSBC said a macro recovery, France restructuring and trade and e-commerce & digital represent growth opportunities for the company.

The bank said it was updating estimates for FY results and revised guidance for FY25, which it views as the bottom of the cycle.

On the downside, Aviva, Phoenix and Lloyds were all weaker as they traded without entitlement to the dividend.

Travel shares were under the cosh amid the potential threat of an Iranian attack on Israel, with BA and Iberia owner IAG and easyJet both down.

FTSE 100 - Risers

Centrica (CNA) 131.30p 3.73%
AstraZeneca (AZN) 11,060.00p 3.00%
Ocado Group (OCDO) 379.00p 2.61%
Kingfisher (KGF) 249.00p 2.60%
SSE (SSE) 1,619.50p 1.86%
Smiths Group (SMIN) 1,637.00p 1.81%
Entain (ENT) 827.80p 1.65%
Imperial Brands (IMB) 1,707.00p 1.31%
Rightmove (RMV) 532.60p 1.22%
Fresnillo (FRES) 586.50p 1.21%

FTSE 100 - Fallers

Aviva (AV.) 460.80p -6.12%
Phoenix Group Holdings (PHNX) 510.50p -5.99%
Tesco (TSCO) 281.80p -5.59%
Lloyds Banking Group (LLOY) 50.76p -4.56%
easyJet (EZJ) 546.80p -4.45%
Whitbread (WTB) 3,140.00p -3.60%
International Consolidated Airlines Group SA (CDI) (IAG) 169.70p -3.42%
Barclays (BARC) 184.68p -2.70%
Sainsbury (J) (SBRY) 261.00p -2.62%
HSBC Holdings (HSBA) 649.20p -2.19%