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FTSE 100 movers: B&M rallies again; Auto Trader loses ground

(Sharecast News) - London's FTSE 100 was up 0.5% at 7,479.95 in afternoon trade on Thursday. B&M European Value Retail was a high riser for the second day in a row, having surged on Thursday after it lifted its outlook for 2024.

Convatec was also in the black after an upgrade to 'overweight' at Morgan Stanley.

On the downside, National Grid and Severn Trent both fell as they traded without entitlement to the dividend.

Auto Trader lost ground as it sounded a positive note for the year ahead but posted a dip in annual profits.

The UK's largest car marketplace said group revenues in the year to 31 March rose 16% to £500.2m, boosted in part by the acquisition in June 2022 of Autorama, a vehicle leasing specialist.

However, costs associated with the acquisition of Autorama meant group operating profits fell 9% to £277.6m. The group operating profit margin also came under pressure, falling to 55% from 70% a year previously.

Pre-tax profits eased to £293.6m from £301m.

FTSE 100 - Risers

B&M European Value Retail S.A. (DI) (BME) 531.80p 4.32% Fresnillo (FRES) 670.80p 3.52% Melrose Industries (MRO) 485.90p 3.03% Anglo American (AAL) 2,283.50p 2.70% Prudential (PRU) 1,083.50p 2.60% Convatec Group (CTEC) 208.00p 2.56% Standard Chartered (STAN) 647.20p 2.15% Beazley (BEZ) 617.50p 1.98% Johnson Matthey (JMAT) 1,757.50p 1.59% Antofagasta (ANTO) 1,358.50p 1.57%

FTSE 100 - Fallers

National Grid (NG.) 1,052.50p -4.84% Auto Trader Group (AUTO) 610.60p -3.08% Severn Trent (SVT) 2,692.00p -2.92% Ocado Group (OCDO) 359.20p -2.66% 3i Group (III) 1,926.00p -1.51% Admiral Group (ADM) 2,299.00p -1.12% Burberry Group (BRBY) 2,130.00p -1.11% Coca-Cola HBC AG (CDI) (CCH) 2,363.00p -1.05% Pershing Square Holdings Ltd NPV (PSH) 2,720.00p -1.02% AstraZeneca (AZN) 11,550.00p -0.94%

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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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