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FTSE 100 movers: Entain rallies; B&M hit by placing

(Sharecast News) - London's FTSE 100 was up 0.2% at 7,557.68 in afternoon trade on Wednesday. Entain was the top gainer as it said that chief executive officer Jette Nygaard-Andersen has resigned from her position with immediate effect. It has appointed Stella David, a non-executive director, as interim CEO until a permanent replacement is selected.

Jette's decision to leave came after the resolution of HMRC's investigation into the company's legacy Turkish-facing business.

BAE Systems was also on the front foot after it won a contract worth up to $8.8bn with the US Army to continue as the operating contractor of the Holston Army Ammunition Plant (HSAAP) with a base period of 10 years.

B&M European Value Retail tumbled after SSA investments sold 27.8m shares in the discount retailer in a placing. The shares were priced at 582.5p each - a 3% discount to the closing share price on Tuesday - raising aggregate gross sale proceeds of £162.1m.

Advertising giant WPP was knocked lower by a downgrade to 'neutral' from 'overweight' at JPMorgan. The bank pointed to slowing US macro and share losses.

FTSE 100 - Risers

Entain (ENT) 836.80p 3.87% AstraZeneca (AZN) 10,472.00p 2.95% Land Securities Group (LAND) 666.60p 1.86% SEGRO (SGRO) 845.40p 1.71% Convatec Group (CTEC) 235.20p 1.55% Melrose Industries (MRO) 571.00p 1.38% BAE Systems (BA.) 1,070.00p 1.28% Croda International (CRDA) 4,763.00p 1.25% Compass Group (CPG) 2,100.00p 1.20% Rentokil Initial (RTO) 417.50p 1.19%

FTSE 100 - Fallers

B&M European Value Retail S.A. (DI) (BME) 560.40p -6.66% Weir Group (WEIR) 1,821.50p -4.43% Rightmove (RMV) 568.80p -4.37% Vodafone Group (VOD) 65.55p -2.32% Auto Trader Group (AUTO) 729.20p -2.17% Prudential (PRU) 866.40p -1.68% International Consolidated Airlines Group SA (CDI) (IAG) 156.90p -1.44% WPP (WPP) 727.40p -1.30% Rolls-Royce Holdings (RR.) 301.00p -1.21% Legal & General Group (LGEN) 242.60p -0.86%

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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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