FTSE 100 movers: Burberry sinks after sales growth slows

Luxury brand Burberry sank into the bottom spot after underlying sales growth slowed down from 15% in the fourth quarter to 11% in the first quarter. Analysts were expecting a 13% increase. Both Nomura and Bank of America Merrill Lynch cut their target prices for the stock today. Precious metals miner Polymetal was another big faller after it said it had lost a multi-million dollar court fight with the Russian authorities.Chemicals group Johnson Matthey also dropped after UBS downgraded the stock to 'neutral' while banking group Lloyds was suffering from a ratings cut by Liberum Capital to 'sell'. Meanwhile, insurance firm Aviva was benefiting after the US broker upgraded its rating to 'overweight'. Glencore International, the Switzerland-based integrated producer and marketer of commodities, was also on the up after announced it is to buy the European manganese ferroalloys operations of Brazilian metals and mining group Vale. Furthermore, some references were heard today in the market to the effect that the company might benefit from rising grain prices given its recent acquisitions in the space.As well, it and Xstrata have set the next 7th of September as the new date for shareholders to approve their proposed combination. That may give them more time to try and win reticent shareholders over some believe. Aggreko was off following a profit warning from one of its clients, US outfit Cummins. FTSE 100 - RisersICAP (IAP) 316.00p +1.58%Aviva (AV.) 289.70p +1.15%Xstrata (XTA) 835.90p +1.14%ARM Holdings (ARM) 485.80p +1.10%Hammerson (HMSO) 452.80p +1.07%Vodafone Group (VOD) 183.45p +0.99%Schroders (SDR) 1,325.00p +0.99%British Land Co (BLND) 521.00p +0.97%Capital Shopping Centres Group (CSCG) 325.90p +0.96%Royal Bank of Scotland Group (RBS) 210.20p +0.96%FTSE 100 - FallersBurberry Group (BRBY) 1,177.00p -8.33%Polymetal International (POLY) 835.50p -4.73%Aggreko (AGK) 2,009.00p -3.51%Weir Group (WEIR) 1,526.00p -3.36%GKN (GKN) 209.10p -2.97%Rolls-Royce Holdings (RR.) 864.00p -2.92%Marks & Spencer Group (MKS) 318.30p -2.90%Johnson Matthey (JMAT) 2,105.00p -2.86%WPP (WPP) 785.50p -2.78%Old Mutual (OML) 152.90p -2.30%NR