FTSE 100 movers: Rio rallies on share buyback; GVC goes ex-div

London's FTSE 100 was up 0.4% to 7,360.55 in afternoon trade on Thursday.

Rio Tinto was a high riser as it outlined plans to return around $3.2bn to shareholders through a share buyback programme following the disposal of its coal assets.

The programme combines an off-market buyback tender targeting up to 41.2m Rio Tinto Limited shares and further on-market purchases of Rio Tinto plc shares.

Marks & Spencer got a boost after data from the Office for National Statistics showed that retail sales rose 0.3% month-on-month in August versus expectations for a 0.3% decline.

The ONS also revised July's sales rise to 0.9% from 0.7%, meaning August sales were up 3.3% compared to the same month last year, well ahead of the 2.2% gain expected. July's gain was revised up to 3.8% from 3.5%.

On the downside, luxury fashion retailer Burberry was under pressure, however, following the debut runway show from new create director Riccardo Tisci on Monday. Societe Generale said the show was as "streetwear-meets-avant-garde fashion, endorsed by a celebrity in the front row" as some had hoped.

GVC Holdings was on the back foot as it went ex-dividend.

FTSE 100 - Risers

Standard Chartered (STAN) 635.70p 2.95%
Fresnillo (FRES) 849.80p 2.93%
Melrose Industries (MRO) 224.20p 2.66%
Rio Tinto (RIO) 3,820.00p 2.62%
Marks & Spencer Group (MKS) 286.50p 2.58%
Antofagasta (ANTO) 856.20p 2.29%
St James's Place (STJ) 1,134.50p 2.07%
Anglo American (AAL) 1,687.20p 1.91%
Prudential (PRU) 1,757.50p 1.85%
Johnson Matthey (JMAT) 3,651.00p 1.73%

FTSE 100 - Fallers

Burberry Group (BRBY) 2,027.00p -3.98%
GVC Holdings (GVC) 972.50p -2.60%
WPP (WPP) 1,119.50p -1.71%
Ashtead Group (AHT) 2,290.00p -1.55%
Kingfisher (KGF) 243.50p -1.42%
Rightmove (RMV) 470.50p -1.16%
GlaxoSmithKline (GSK) 1,480.80p -1.07%
BAE Systems (BA.) 630.00p -0.97%
Smurfit Kappa Group (SKG) 3,122.00p -0.89%
Ocado Group (OCDO) 891.60p -0.87%