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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Banks under the cosh again; defensives gain

(Sharecast News) - London's FTSE 100 was down 1.5% at 7,385.83 in afternoon trade on Friday. Banks were under the cosh again, led lower by Deutsche Bank, as the cost of insuring against its default spiked.

Standard Chartered, Barclays and NatWest all fell sharply.

Worries about the European banking sector also intensified after Bloomberg reported that UBS and Credit Suisse were among banks being looked at in a US Justice Department investigation into whether financial professionals had helped Russian oligarchs to evade sanctions.

On the upside, defensive names rallied, with consumer goods giants Reckitt and Unilever among the top risers, while drinks company Diageo and tobacco groups BAT and Imperial Brands also rose.

FTSE 100 - Risers

Reckitt Benckiser Group (RKT) 6,126.00p 2.37% British American Tobacco (BATS) 2,873.00p 1.75% Diageo (DGE) 3,595.00p 0.90% Imperial Brands (IMB) 1,892.00p 0.88% Unilever (ULVR) 4,200.50p 0.67% Coca-Cola HBC AG (CDI) (CCH) 2,183.00p 0.55% Beazley (BEZ) 559.50p 0.45% Convatec Group (CTEC) 219.60p 0.27% Endeavour Mining (EDV) 1,845.00p 0.11% Sage Group (SGE) 749.80p 0.11%

FTSE 100 - Fallers

Standard Chartered (STAN) 594.20p -6.04% Barclays (BARC) 132.34p -5.32% Ashtead Group (AHT) 4,743.00p -5.14% Prudential (PRU) 1,016.00p -4.69% JD Sports Fashion (JD.) 163.40p -4.47% CRH (CDI) (CRH) 3,894.00p -3.80% NATWEST GROUP (NWG) 258.10p -3.73% Shell (SHEL) 2,190.00p -3.61% WPP (WPP) 913.80p -3.38% International Consolidated Airlines Group SA (CDI) (IAG) 134.70p -3.34%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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