FTSE 100 movers: Spirax-Sarco boosted by broker notes; Aviva in the red

Spirax-Sarco shot to the top of the index after an upgrade to ‘outperform’ at BNP Paribas Exane and an initiation at ‘buy’ at Citi, which also started Smiths Group at ‘buy’ and Halma at ‘neutral’.

Admiral was a high riser as FTSE 250 insurer Direct Line rocketed after saying it had rejected a takeover proposal from Aviva.

Dan Coatsworth, investment analyst at AJ Bell, said: "It’s normal to see other companies in the same sector jump when there is takeover activity as investors consider who else might be bid targets or are trading too cheaply.

"There is no suggestion that someone will bid for Admiral but that hasn’t stopped it having its moment in the sun."

EasyJet flew higher as RBC Capital Markets raised its target price on the shares from 550p to 570p, but kept a 'sector perform' rating, saying it sees greater upside elsewhere in the sector.

Sainsbury’s gained as JPMorgan Cazenove double upgraded its stance on the stock to ‘overweight’ from ‘underweight’ and lifted the price target to 310p from 304p, as it took a look at European food retail.

Aviva was the worst performer on the index after its rejection by Direct Line.

Land Securities, Severn Trent, Imperial Brands and United Utilities all fell as they traded without entitlement to the dividend.

FTSE 100 - Risers

Spirax Group (SPX) 7,185.00p 4.13%
Entain (ENT) 812.40p 3.73%
Admiral Group (ADM) 2,549.00p 3.45%
easyJet (EZJ) 555.80p 3.27%
International Consolidated Airlines Group SA (CDI) (IAG) 261.90p 2.67%
Sainsbury (J) (SBRY) 259.80p 2.53%
Barclays (BARC) 264.70p 2.22%
Rightmove (RMV) 651.20p 2.10%
JD Sports Fashion (JD.) 103.75p 2.07%
Centrica (CNA) 128.70p 2.06%

FTSE 100 - Fallers

Aviva (AV.) 475.80p -2.76%
Vistry Group (VTY) 657.00p -2.67%
Land Securities Group (LAND) 606.00p -2.57%
Berkeley Group Holdings (The) (BKG) 4,202.00p -1.87%
Severn Trent (SVT) 2,707.00p -1.64%
Persimmon (PSN) 1,249.50p -1.38%
Imperial Brands (IMB) 2,599.00p -1.37%
Haleon (HLN) 374.70p -1.34%
Croda International (CRDA) 3,437.00p -1.32%
United Utilities Group (UU.) 1,122.50p -1.10%