FTSE 100 movers: Coca-Cola HBC hit by downgrade; Glencore gains

10th Aug 2026 13:59

(Sharecast News) - London's FTSE 100 was down 0.4% at 10,858.04 in afternoon trade on Monday.

Coca-Cola HBC fizzed lower after a downgrade to 'neutral' from 'outperform' at BNP Paribas, which cited limited further upside following the stock's strong run.

Legal & General was also weaker after Citi downgraded the shares to 'sell' from 'neutral' on valuation grounds and cut the price target to 245p from 251p as it noted the stock is up 19% year to date.

The bank said it was cutting its 2026-27 remittances by 4.5% following the first-half results. "This reflects lower pension buyout volumes underwritten at a reduced IFRS margin offset by higher operating profit from asset management driven by lower CIR, and an additional £100m per annum from asset optimisation actions," it said.

Defensive were on the back foot, with pharma giant GSK and tobacco stocks Imperial Brands and British American Tobacco all down.

On the upside, Glencore was the standout gainer on the index as Deutsche Bank, which rates the shares at 'buy', said it continues to see a compelling bottom-up story for the miner.

"Near-term progress on divestments should lead to higher shareholder returns; copper volumes should lift materially over the next 12-18 months (little in the share price for this); and we believe Rio merger talks could be revived at some stage, potentially once both companies have made progress on divestments," the bank said.

FTSE 100 - Risers

Glencore (GLEN) 564.50p 1.27%

IG Group Holdings (IGG) 1,356.00p 1.19%

Scottish Mortgage Inv Trust (SMT) 1,411.00p 1.04%

Croda International (CRDA) 3,291.00p 0.86%

Rolls-Royce Holdings (RR.) 1,542.40p 0.85%

Melrose Industries (MRO) 488.10p 0.70%

Spirax Group (SPX) 7,550.00p 0.67%

Standard Chartered (STAN) 2,227.00p 0.36%

Diageo (DGE) 1,796.00p 0.34%

SSE (SSE) 2,394.00p 0.33%

FTSE 100 - Fallers

Coca-Cola HBC AG (CDI) (CCH) 4,792.00p -3.47%

GSK (GSK) 1,910.50p -2.47%

Admiral Group (ADM) 3,798.00p -2.21%

Imperial Brands (IMB) 2,730.00p -2.08%

British American Tobacco (BATS) 4,335.00p -1.90%

Smith & Nephew (SN.) 1,091.50p -1.89%

BT Group (BT.A) 195.60p -1.68%

Vodafone Group (VOD) 118.50p -1.62%

Legal & General Group (LGEN) 311.70p -1.52%

3i Group (III) 2,822.00p -1.50%