FTSE 100 movers: BT rallies; Rio Tinto hit by downgrade

London’s FTSE 100 was down 0.2% at 7,488.33 in afternoon trade on Wednesday.

British Airways and Iberia parent IAG flew lower after a revenue warning from JetBlue Airways.

Rio Tinto was also in the red after a downgrade to ‘underweight’ from ‘neutral’ at JPMorgan Cazenove.

In a note on EMEA Metals & Mining, JPM said it was downgrading the shares even though it expects strong tailwinds for the company in the first quarter.

Housebuilder Taylor Wimpey fell after a downgrade to ‘neutral’ from ‘overweight’ at JPMorgan, which cut its price target to 110p from 170p.

On the upside, BT Group rallied after Nokia announced the expansion of its partnership with the telecoms group in a five-year deal for its AVA Analytics software for fixed networks.

The deal will help the UK operator strengthen its network monitoring through AI and machine learning, and improve its subscriber experience, Nokia said.

FTSE 100 - Risers

BT Group (BT.A) 117.25p 2.94%
Fresnillo (FRES) 873.80p 2.17%
Centrica (CNA) 91.72p 1.33%
Compass Group (CPG) 1,919.00p 1.05%
Unilever (ULVR) 4,144.00p 0.94%
BAE Systems (BA.) 828.60p 0.93%
Harbour Energy (HBR) 313.50p 0.74%
Admiral Group (ADM) 2,067.00p 0.73%
CRH (CDI) (CRH) 3,279.50p 0.69%
British American Tobacco (BATS) 3,274.50p 0.68%

FTSE 100 - Fallers

Ocado Group (OCDO) 679.40p -2.94%
International Consolidated Airlines Group SA (CDI) (IAG) 132.38p -2.11%
Taylor Wimpey (TW.) 102.25p -1.87%
Airtel Africa (AAF) 115.40p -1.70%
Auto Trader Group (AUTO) 560.20p -1.62%
Melrose Industries (MRO) 128.55p -1.61%
Anglo American (AAL) 3,154.50p -1.58%
Rio Tinto (RIO) 5,671.00p -1.32%
United Utilities Group (UU.) 1,020.50p -1.31%
JD Sports Fashion (JD.) 121.05p -1.26%