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FTSE 100 movers: Airtel Africa surges; Burberry out of fashion
(Sharecast News) - London's FTSE 100 was up 0.5% at 10,278.72 in afternoon trade on Monday. Airtel Africa surged to the top index after shareholder Bharti Airtel said it is considering a reorganisation of its subsidiary companies' shareholding frameworks, including Airtel.
The Indian telecoms company said the reorganisation of the shareholding framework could involve consolidation or acquisition of shares in its subsidiaries.
BA and Iberia owner IAG flew higher as JPMorgan said it remained 'overweight' the shares after a "good" first quarter, driven by strong pricing. The bank also said it expects robust earnings and free cash flow this year despite the impact from higher fuel.
Compass Group rallied as it boosted its full-year outlook following a robust first half. The catering giant now expects annual organic operating profit growth of more than 11%, up from previous guidance for around 10%, after underlying interim revenues rose 9% to $25bn and profits jumped 12% at $1.8bn.
Vodafone gained ahead of full-year results on Tuesday.
On the downside, F&C Investment Trust tumbled but the drop was technical and due to a 4 for 1 share split becoming effective.
Luxury fashion brand Burberry was weaker ahead of full-year results on Thursday.
FTSE 100 - Risers
Airtel Africa (AAF) 428.60p 16.78% International Consolidated Airlines Group SA (CDI) (IAG) 409.20p 6.34% Metlen Energy & Metals (MTLN) 37.62p 3.66% Compass Group 11 (CPG) 30.45p 3.42% Vodafone Group (VOD) 121.65p 2.53% Fresnillo (FRES) 3,662.00p 1.88% Rio Tinto (RIO) 7,821.00p 1.43% Intertek Group (ITRK) 4,978.00p 1.38% Anglo American (AAL) 3,906.00p 1.33% Aviva (AV.) 627.20p 1.16%
FTSE 100 - Fallers
F&C Investment Trust (FCIT) 330.20p -74.95% Flutter Entertainment (DI) (FLTR) 7,224.00p -4.32% JD Sports Fashion (JD.) 72.06p -3.92% Entain (ENT) 531.80p -2.92% Autotrader Group (AUTO) 504.80p -2.77% Burberry Group (BRBY) 1,179.00p -2.48% Whitbread (WTB) 2,350.00p -2.45% British Land Company (BLND) 382.60p -2.40% Babcock International Group (BAB) 1,027.50p -2.38% BAE Systems (BA.) 1,896.00p -2.13%
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