London's FTSE 100 was flat at 9,715.92 in afternoon trade on Monday.
Airtel Africa surged again, having rallied last week after it posted a sharp jump in half-year core earnings on the back of surging revenues and an increase in customer numbers.
EasyJet and BA and Iberia owner IAG both flew higher after Ryanair said interim profits had grown 42%, driven by record traffic growth and rising fares.
Vodafone was in the red after UBS downgraded the shares to 'sell' from 'neutral' saying it sees three potential risks.
The bank said Vodafone has made significant progress in reshaping its portfolio, returning cash to shareholders and turning around Vodafone Germany.
"However, with the shares up 34% year-to-date, Vodafone is trading on a valuation premium to peers and we think material risk have been overlooked," said UBS.
Firstly, it pointed to rising competition in German Multiple Dwelling Units.
Secondly, it noted a de-rating in Vantage Towers from the loss of Spanish revenues and thirdly, it pointed to the potential loss of the 1&1 NRA should there be German mobile consolidation.
The 1&1 NRA refers to a national roaming agreement (NRA) between Vodafone Germany and 1&1 Mobilfunk GmbH in Germany.
Convatec slumped as it said the US Centers for Medicare & Medicaid Services' (CMS) decision on the revised payment rate of $127.28 per square cm for skin substitutes would dent revenue by around 1-2% in 2026. This is unchanged from the guidance given at its first-half results.