FTSE 100 movers: Tesco rallies on Booker go-ahead, but ITV drops on update

London’s FTSE 100 was up 0.1% to 7,424.64 in afternoon trade on Tuesday as investors digested the latest inflation data.

Tesco was the standout gainer after its controversial takeover of wholesaler Booker was given provisional clearance by the UK competition authority following an in-depth review.

Meanwhile, Vodafone rallied after it lifted its full-year earnings growth guidance to around 10% from 4% to 8%.

On the downside, broadcaster ITV retreated as it reported an easing in the television advertising crunch in the third quarter and further good growth in online and overseas sales of its Studios productions.

Land Securities was in the red despite reporting a solid first half even in the face of Brexit headwinds.

Heavily-weighted mining stocks were under the cosh after data released earlier out of China - a big consumer of metals - showed industrial production, retail sales growth and property investment cooled in October. Glencore, Rio Tinto, Anglo American and BHP Billiton were all weaker.

Anglo American said sales at its De Beers diamond business edged up in ninth sales cycle of the year as orders rose ahead of Christmas. Sales of rough diamonds came in at $455m, up from $376m in the eighth sales cycle but down from $476m in the ninth cycle of last year.

Risers

Tesco (TSCO) 187.25p 5.79%
Vodafone Group (VOD) 227.10p 5.14%
Shire Plc (SHP) 3,587.50p 2.53%
NMC Health (NMC) 2,854.00p 1.93%
Berkeley Group Holdings (The) (BKG) 3,666.00p 1.92%
Informa (INF) 742.00p 1.64%
St James's Place (STJ) 1,145.00p 1.51%
Schroders (SDR) 3,473.00p 1.43%
BAE Systems (BA.) 544.50p 1.40%
Barclays (BARC) 181.20p 1.29%

Fallers

ITV (ITV) 150.40p -2.34%
Babcock International Group (BAB) 737.50p -2.06%
Glencore (GLEN) 356.75p -1.98%
Rio Tinto (RIO) 3,633.00p -1.78%
Anglo American (AAL) 1,474.50p -1.50%
Land Securities Group (LAND) 928.00p -1.33%
Imperial Brands (IMB) 3,086.50p -1.23%
Convatec Group (CTEC) 189.00p -1.20%
BHP Billiton (BLT) 1,406.00p -1.19%
Antofagasta (ANTO) 963.00p -1.18%