FTSE 100 movers: Frasers Group gains; Kingfisher in the red

London’s FTSE 100 was up 0.4% at 7,661.19 in afternoon trade on Friday.

Mike Ashley’s Frasers Group was among the top risers on the index. This week, the company has lifted its stakes in Asos and AO World.

Centrica was also on the rise after Citi reiterated its ‘buy’ recommendation on shares of the British Gas owner. It argued that the stock’s tepid share price performance in recent days despite the tailwind from a solid trading statement is a reflection of positioning rather than concerns on fundamentals.

"We expect Centrica to outline its sustainable level of EBIT at 1H23, which we expect to be range £1.0-1.1bn, implying an earnings per share of circa 12- 13p," the bank said.

"This compares favourably to FY26 consensus EPS currently at 10p. We expect this medium-term guidance to provide earnings and cashflow visibility and, together with clarity on capital allocation strategy (including a further £0.75bn cash return) and investment return hurdle rates, we expect both to underpin current valuation and drive a continued re-rating of the shares."

B&Q and Castorama owner Kingfisher was on the back foot after a profit warning from builders’ merchant Travis Perkins.

FTSE 100 - Risers

Ocado Group (OCDO) 449.40p 4.51%
Entain (ENT) 1,239.00p 3.08%
Frasers Group (FRAS) 702.50p 2.70%
Centrica (CNA) 118.60p 2.60%
British Land Company (BLND) 343.00p 2.48%
CRH (CDI) (CRH) 4,173.00p 2.13%
Persimmon (PSN) 1,204.50p 1.90%
National Grid (NG.) 1,053.50p 1.84%
SSE (SSE) 1,871.00p 1.80%
Land Securities Group (LAND) 594.20p 1.78%

FTSE 100 - Fallers

Airtel Africa (AAF) 126.00p -2.63%
Sainsbury (J) (SBRY) 266.40p -2.20%
Antofagasta (ANTO) 1,537.00p -2.07%
Anglo American (AAL) 2,533.00p -1.82%
Kingfisher (KGF) 232.50p -1.48%
Barratt Developments (BDEV) 442.30p -1.32%
Rio Tinto (RIO) 5,286.00p -1.07%
Tesco (TSCO) 261.70p -1.06%
Ashtead Group (AHT) 5,428.00p -1.06%
Weir Group (WEIR) 1,808.00p -0.82%