FTSE 100 movers: British American Tobacco rallies; Admiral hit by downgrade

London’s FTSE 100 was up 1.3% at 7,133.07 in afternoon trade on Friday.

British American Tobacco was among the risers after JPMorgan Cazenove placed the shares on ‘positive catalyst watch’ and lifted the price target to 4,500p from 4,000p.

"We update our model ahead of H122 results scheduled for Wednesday, 27th July, and now sit 8% ahead of company consensus H1 next generation product sales and 3% ahead on EPS," it said.

Luxury fashion brand Burberry was under the cosh, however, as it said first-quarter same-store sales increased just 1% year-on-year as revenues were impacted by lockdowns across mainland China.

Rio Tinto lost ground after the miner sounded a cautious note on the outlook in its second-quarter production results.

Admiral was weaker after a downgrade to ‘underweight’ at JPMorgan Cazenove.

FTSE 100 - Risers

Rolls-Royce Holdings (RR.) 89.33p 4.70%
Rentokil Initial (RTO) 512.00p 4.26%
Harbour Energy (HBR) 328.30p 4.16%
Airtel Africa (AAF) 155.00p 3.61%
Smith (DS) (SMDS) 282.40p 3.44%
BP (BP.) 376.35p 3.41%
Shell (SHEL) 2,001.50p 3.36%
British American Tobacco (BATS) 3,476.00p 3.28%
JD Sports Fashion (JD.) 126.85p 2.55%
Centrica (CNA) 87.74p 2.52%

FTSE 100 - Fallers

Burberry Group (BRBY) 1,560.00p -5.37%
London Stock Exchange Group (LSEG) 7,434.00p -2.52%
United Utilities Group (UU.) 1,028.00p -2.23%
Severn Trent (SVT) 2,811.00p -1.64%
Admiral Group (ADM) 1,903.00p -1.58%
Rio Tinto (RIO) 4,498.50p -1.50%
Entain (ENT) 1,091.00p -1.13%
Croda International (CRDA) 6,572.00p -0.90%
Halma (HLMA) 2,079.00p -0.81%
Flutter Entertainment (CDI) (FLTR) 7,586.00p -0.63%