FTSE 100 movers: 3i Group boosted by upgrade; Diageo fizzes lower

London’s FTSE 100 was up 1.3% at 8,239.37 in afternoon trade on Tuesday.

3i Group jumped to the top of the index after Citi lifted its price target on the shares to 4,850 from 4,670p, mainly due to FX, and reiterated its ‘buy’ rating following the filing of Dutch retailer Action’s 2024 annual report.

"New disclosure suggests meaningful revenue upside from Germany," Citi said. "It also shows Action’s best-in-class working capital dynamics improved in 2024."

Citi said it finds evidence of downtrading among more affluent customers, while new data shows store sizes are largely unchanged.

3i Group holds a majority stake in Action.

Drinks company Diageo was the biggest loser on the index, likely on negative read-across from LVMH, which reported an 8% drop in first-quarter sales of wines and spirits.

FTSE 100 - Risers

3i Group (III) 4,106.00p 5.17%
St James's Place (STJ) 897.80p 3.91%
Fresnillo (FRES) 1,053.00p 3.24%
SEGRO (SGRO) 664.40p 2.91%
Kingfisher (KGF) 265.00p 2.71%
M&G (MNG) 193.15p 2.66%
Schroders (SDR) 318.00p 2.38%
Intermediate Capital Group (ICG) 1,791.00p 2.34%
Taylor Wimpey (TW.) 108.50p 2.31%
Halma (HLMA) 2,662.00p 2.31%

FTSE 100 - Fallers

Diageo (DGE) 2,042.00p -3.18%
Smurfit Westrock (DI) (SWR) 3,110.00p -1.11%
Convatec Group (CTEC) 256.00p -0.93%
CRH (CDI) (CRH) 6,508.00p -0.88%
Scottish Mortgage Inv Trust (SMT) 873.40p -0.86%
Glencore (GLEN) 258.00p -0.79%
Croda International (CRDA) 2,649.00p -0.75%
Smith & Nephew (SN.) 988.40p -0.46%
AstraZeneca (AZN) 10,278.00p -0.41%
Coca-Cola Europacific Partners (DI) (CCEP) 6,680.00p -0.30%