London’s FTSE 100 was up 0.2% at 7,478.19 in afternoon trade on Monday.
Airtel Africa was the standout gainer after being promoted to the FTSE 100 at the end of last week, replacing mining company BHP.
Vodafone was also on the rise after the telecoms company was targeted by activist investor Cevian, putting management under pressure to improve its struggling performance, according to reports. The Sweden-based investment firm has built up holdings in the communications giant in recent months, which has seen its share price almost halve in value since 2018. It also holds stakes in insurer Aviva and educational publisher Pearson.
On the downside, miners retreated as copper prices fell, with Rio Tinto, Glencore and Anglo American all lower.
Supermarkets were also in the red, with Sainsbury’s and Tesco on the back foot.
FTSE 100 – Risers
Airtel Africa (AAF) 150.60p 4.58%
Spirax-Sarco Engineering (SPX) 13,215.00p 3.32%
Royal Mail (RMG) 445.60p 3.12%
Scottish Mortgage Inv Trust (SMT) 1,059.50p 3.06%
3i Group (III) 1,365.50p 2.90%
Ocado Group (OCDO) 1,478.00p 2.50%
Vodafone Group (VOD) 130.80p 2.49%
Rightmove (RMV) 647.60p 2.47%
Pershing Square Holdings Ltd NPV (PSH) 2,730.00p 2.44%
SEGRO (SGRO) 1,308.50p 2.39%
FTSE 100 – Fallers
Sainsbury (J) (SBRY) 287.30p -3.95%
Rio Tinto (RIO) 5,234.00p -2.82%
Glencore (GLEN) 383.40p -2.50%
BAE Systems (BA.) 578.00p -2.40%
Anglo American (AAL) 3,249.50p -2.17%
Tesco (TSCO) 296.90p -2.14%
AstraZeneca (AZN) 8,605.00p -1.85%
Associated British Foods (ABF) 1,924.00p -1.79%
Fresnillo (FRES) 622.80p -1.42%
Next (NXT) 7,478.00p -1.27%
