FTSE 100 movers: Bunzl dips on slower growth, miners extend losses

London markets continued to rebound on Tuesday, as better-than-expected economic data, positive broker sentiment and renewed optimism on Greek negotiations buoyed stocks.

As of 14:15 BST, the FTSE 100 was trading 0.3% higher at 6,846.

Distribution and outsourcing business Bunzl disappointed with a slowdown in organic growth in the second quarter. The group also announced that it has acquired four businesses in the US, Colombia, Canada and France.

Miners Rio Tinto, BHP Billiton and Anglo American extended losses as three-month delivery contracts for metals fell across the board on concerns over demand in China and Europe.

Meanwhile, a number of blue chips were making gains after a series of broker upgrades.

RBC Capital Markets lifted its stance on Sports Direct to ‘outperform’, saying the sports retailer is “regaining momentum”.

UBS raised Smith & Nephew to ‘buy’, pointing out the shares were trading at a discount to the European medical technology sector.

Johnson Matthey rose after Citigroup upgraded the chemical business to ‘buy’, saying the current valuation is “an attractive entry point”.

Nomura lifted Diageo to ‘buy’, saying bad news flow at the spirits product maker is abating and “a recovery in growth should become visible in full-year 2016”.

Vodafone’s share price was also boosted by an upgrade by Nomura to "buy". The Japanese bank said the proposed asset swaps with Liberty Global could lead to a “golden opportunity”.

Risers
Sports Direct International (SPD) 725.50p +3.27%
Smith & Nephew (SN.) 1,113.00p +2.39%
Meggitt (MGGT) 478.60p +2.35%
Johnson Matthey (JMAT) 3,218.00p +2.06%
Marks & Spencer Group (MKS) 560.00p +2.00%
Weir Group (WEIR) 1,819.00p +1.90%
Diageo (DGE) 1,942.50p +1.86%
Hikma Pharmaceuticals (HIK) 1,946.00p +1.83%
Sage Group (SGE) 549.50p +1.67%
easyJet (EZJ) 1,608.00p +1.45%

Fallers
Bunzl (BNZL) 1,854.00p -1.96%
Rio Tinto (RIO) 2,741.00p -1.05%
TUI AG Reg Shs (DI) (TUI) 1,171.00p -0.76%
Associated British Foods (ABF) 3,075.00p -0.61%
Royal Dutch Shell 'B' (RDSB) 1,891.00p -0.60%
Royal Dutch Shell 'A' (RDSA) 1,864.00p -0.59%
Intertek Group (ITRK) 2,453.00p -0.57%
BAE Systems (BA.) 476.40p -0.54%
Persimmon (PSN) 2,040.00p -0.54%
SABMiller (SAB) 3,383.50p -0.51%