FTSE 100 movers: Rolls-Royce boosted by upgrade; miners, oil giants fall

London’s FTSE 100 was down 0.2% at 7,513.28 in afternoon trade on Monday.

Miners Anglo American, Glencore, Rio Tinto and Antofagasta and oil giants BP and Shell were all weaker as metals and oil prices fell.

Rolls-Royce was the standout gainer after JPMorgan upgraded shares of the engine maker to ‘overweight’ from ‘neutral’ and lifted the price target to 400p from 235p.

DS Smith was also on the rise after Barclays upgraded the shares to ‘overweight’ from ‘equalweight’ and lifted the price target to 360p from 310p. It noted that DS Smith is one the cheapest stocks in global packaging currently and said it expects a volume recovery to drive a multiple re-rating.

"We believe DS Smith should cut capex to maintenance capex levels and hope that DS Smith doesn't engage in expensive M&A and instead focuses on optimising its portfolio and operations," Barclays said.

Frasers Group was in the black after it lifted its stake in fast fashion retailer Boohoo again.

FTSE 100 - Risers

Rolls-Royce Holdings (RR.) 285.50p 3.18%
JD Sports Fashion (JD.) 163.60p 2.03%
Pearson (PSON) 934.80p 1.65%
Smith (DS) (SMDS) 301.30p 1.62%
B&M European Value Retail S.A. (DI) (BME) 597.40p 1.43%
BT Group (BT.A) 125.35p 1.37%
Berkeley Group Holdings (The) (BKG) 4,765.00p 1.12%
NATWEST GROUP (NWG) 213.30p 0.99%
International Consolidated Airlines Group SA (CDI) (IAG) 157.95p 0.93%
Frasers Group (FRAS) 906.50p 0.78%

FTSE 100 - Fallers

Anglo American (AAL) 2,233.00p -3.38%
United Utilities Group (UU.) 1,061.00p -2.84%
Glencore (GLEN) 444.90p -2.80%
Flutter Entertainment (CDI) (FLTR) 12,280.00p -2.50%
Rio Tinto (RIO) 5,472.00p -2.27%
Antofagasta (ANTO) 1,465.50p -2.01%
BP (BP.) 470.30p -1.69%
Airtel Africa (AAF) 109.80p -1.52%
Shell (SHEL) 2,529.00p -1.52%
Centrica (CNA) 150.35p -1.44%