FTSE 100 movers: Ocado surges; Anglo American in the red

London’s FTSE 100 was up 0.2% at 8,428.30 in afternoon trade on Tuesday.

Ocado surged to the top of the index, with traders suggesting that heavily-shorted UK stocks were joining the US meme stock rally.

Telecoms giant Vodafone rallied after it posted slightly better annual results than forecast as it continued to offload businesses and move towards its tie-up with rival operator Three. Operating profit fell 74.6% to €3.7bn, mainly as a result of disposals in the prior financial year, in particular the €8.6bn gain on disposal of Vantage Towers.

Luxury fashion brand Burberry was a high riser ahead of preliminary results on Wednesday.

On the downside, Anglo American slumped as it announced a "major new phase" in its strategy as it makes radical changes to its business structure to drive shareholder returns and save costs, including the divestment or spin-off of its steelmaking coal, nickel, platinum and diamond operations.

On Monday, the miner said it had rejected a second, £34bn takeover offer from Australia’s BHP.

DCC fell as its full-year revenue and adjusted earnings per share missed analysts’ forecasts.

Flutter Entertainment lost ground as it said net losses widened to $177m in the first quarter from $111m, mainly due to non-cash charges.

FTSE 100 - Risers

Ocado Group (OCDO) 369.10p 7.92%
Vodafone Group (VOD) 71.76p 2.54%
Glencore (GLEN) 487.40p 2.52%
St James's Place (STJ) 497.00p 2.47%
BT Group (BT.A) 111.45p 2.29%
Burberry Group (BRBY) 1,191.00p 2.23%
Rightmove (RMV) 547.00p 2.20%
SSE (SSE) 1,830.50p 1.69%
Smith (DS) (SMDS) 372.80p 1.64%
United Utilities Group (UU.) 1,108.00p 1.60%

FTSE 100 - Fallers

Anglo American (AAL) 2,611.00p -3.55%
DCC (CDI) (DCC) 5,760.00p -2.46%
Flutter Entertainment (DI) (FLTR) 15,900.00p -1.79%
InterContinental Hotels Group (IHG) 7,846.00p -1.18%
Shell (SHEL) 2,907.00p -1.02%
Smiths Group (SMIN) 1,717.00p -0.87%
Legal & General Group (LGEN) 244.40p -0.77%
Bunzl (BNZL) 3,118.00p -0.64%
International Consolidated Airlines Group SA (CDI) (IAG) 185.30p -0.62%
BP (BP.) 501.90p -0.61%