FTSE 100 movers: Burberry boosted by upgrade; Glencore loses ground

London's FTSE 100 was flat at 7,606.41 in afternoon trade on Thursday amid quiet markets, with the US closed for Independence Day.

Luxury brand Burberry was the standout gainer after an upgrade to 'outperform' from 'neutral' at MainFirst, which also upped its price target on the stock to 2,150p from 1,800p.

Vodafone was on the front foot following a positive note from Barclays, which rates the stock at 'overweight'.

"As the dust settles post the disappointing FY results and dividend cut we take a fresh look at Vodafone," the bank said. "We still see a clear value opportunity, and potentially near term catalysts to help unlock the discount to our 200p price target, with hopefully no operational deterioration in 1Q."

On the downside, Coca-Cola HBC, IAG and Aveva all fell as their stock went ex-dividend.

Glencore was also in the red as it brought in the Congolese army after the death last month of more than 40 illegal miners at the Kamoto copper and cobalt mine.

The Switzerland-based miner said: "Glencore confirms that the armed forces of the Democratic Republic of Congo - FARDC - are in the area around the operations of the Kamoto Copper Company.

"This follows a growing presence of illegal artisanal miners throughout industrial mining concessions in the Kolwezi area, which led to the tragic incident at KCC on 27 June."

Glencore has previously said that it estimates around 2,000 illegal miners on average gather at the site each day, putting employees, equipment and themselves at risk.

FTSE 100 - Risers

Burberry Group (BRBY) 1,946.50p 1.78%
CRH (CRH) 2,700.00p 1.50%
Vodafone Group (VOD) 133.38p 1.49%
Carnival (CCL) 3,575.00p 1.45%
JD Sports Fashion (JD.) 628.80p 1.42%
Morrison (Wm) Supermarkets (MRW) 209.60p 1.26%
Hargreaves Lansdown (HL.) 2,043.00p 1.24%
Sainsbury (J) (SBRY) 200.70p 1.13%
Legal & General Group (LGEN) 279.40p 1.12%
Flutter Entertainment (FLTR) 6,914.00p 1.11%

FTSE 100 - Fallers

Coca-Cola HBC AG (CDI) (CCH) 2,860.56p -6.94%
International Consolidated Airlines Group SA (CDI) (IAG) 454.11p -6.74%
Evraz (EVR) 653.60p -2.80%
Aveva Group (AVV) 4,056.00p -2.73%
Spirax-Sarco Engineering (SPX) 9,185.00p -2.29%
Fresnillo (FRES) 860.60p -1.69%
Halma (HLMA) 2,059.00p -1.67%
Anglo American (AAL) 2,185.00p -1.58%
Glencore (GLEN) 272.65p -1.52%
BHP Group (BHP) 2,015.50p -1.42%