FTSE 100 movers: Ocado hit by broker note; utilities gain

London’s FTSE 100 was down 2% at 7,296.38 in afternoon trade on Thursday.

JD Sports and Next were both in the red as they traded without entitlement to the dividend.

Online supermarket Ocado was under the cosh after Morgan Stanley cut its price target on the shares to 390p from 430p ahead of its first-half results. MS said recent share price strength had been surprising.

Utilities bucked the trend, with United Utilities, Severn Trent and Centrica all down.

FTSE 100 - Risers

United Utilities Group (UU.) 943.80p 1.18%
Tesco (TSCO) 248.90p 0.04%
BAE Systems (BA.) 909.40p -0.15%
Sage Group (SGE) 906.20p -0.24%
Severn Trent (SVT) 2,443.00p -0.29%
Rentokil Initial (RTO) 600.20p -0.40%
Centrica (CNA) 122.45p -0.49%
Sainsbury (J) (SBRY) 268.50p -0.56%
Lloyds Banking Group (LLOY) 43.47p -0.81%
Experian (EXPN) 2,919.00p -0.82%

FTSE 100 - Fallers

Flutter Entertainment (CDI) (FLTR) 14,505.00p -5.41%
JD Sports Fashion (JD.) 138.50p -4.65%
Persimmon (PSN) 968.80p -4.60%
Ocado Group (OCDO) 549.20p -4.22%
Kingfisher (KGF) 218.20p -4.21%
Land Securities Group (LAND) 573.40p -4.05%
Next (NXT) 6,684.00p -3.88%
Abrdn (ABDN) 211.90p -3.55%
Antofagasta (ANTO) 1,419.00p -3.47%
International Consolidated Airlines Group SA (CDI) (IAG) 156.80p -3.42%