FTSE 100 movers: DS Smith bounces back; Phoenix Group retreats

London’s FTSE 100 was up 1.2% to 7,222.87 in afternoon trade on Friday, boosted by signs of progress in Sino-US trade relations and a better-than-expected US non-farm payrolls report.

Paper and packaging group DS Smith was the biggest riser, bouncing back from losses in the previous session following the release of its half-year results.

Miners were on the front foot amid trade hopes, with Antofagasta, Anglo American and BHP all higher, while Russian steelmaker Evraz also gained.

British Airways and Iberia parent IAG flew higher after an initiation at ‘buy’ by Peel Hunt and an upgrade to ‘outperform’ at MainFirst.

On the downside, Phoenix Group Holdings lost ground after saying it had made a £3.2bn cash and shares offer for Swiss Re's UK life insurance closed book consolidator ReAssure Group.

RBC Capital Markets said it was "a sensible deal given Reassure is Phoenix’s only competitor in UK life back book consolidation".

"As such there will likely be more deals where management has a track record of over achieving, and the dividend should continue to be grown," it added.

FTSE 100 - Risers

Smith (DS) (SMDS) 364.90p 3.72%
Antofagasta (ANTO) 898.60p 3.53%
Anglo American (AAL) 2,080.00p 3.02%
Evraz (EVR) 351.50p 2.96%
Kingfisher (KGF) 212.80p 2.75%
WPP (WPP) 974.40p 2.57%
International Consolidated Airlines Group SA (CDI) (IAG) 562.60p 2.55%
Melrose Industries (MRO) 233.10p 2.51%
Burberry Group (BRBY) 2,099.00p 2.39%
BHP Group (BHP) 1,701.00p 2.37%

FTSE 100 - Fallers

NMC Health (NMC) 2,547.00p -1.85%
Fresnillo (FRES) 553.60p -1.70%
Phoenix Group Holdings (PHNX) 727.40p -1.57%
United Utilities Group (UU.) 860.00p -0.26%
DCC (DCC) 6,422.00p 0.00%
Vodafone Group (VOD) 144.36p 0.07%
Polymetal International (POLY) 1,195.50p 0.13%
Coca-Cola HBC AG (CDI) (CCH) 2,497.00p 0.16%
SSE (SSE) 1,317.50p 0.19%
Spirax-Sarco Engineering (SPX) 8,820.00p 0.23%