FTSE 100 movers: Airlines fly higher; gold miners lose shine
London’s FTSE 100 was up 2.2% at 6,358.85 in afternoon trade on Wednesday.
British Airways parent IAG and budget airline easyJet flew higher amid reports of possible "air bridge" links between the UK and holiday destinations in Europe. Neil Wilson, chief market analyst at Markets.com, also pointed out that travel stocks, which have been "deeply oversold" recently, are gaining on hopes that travel restrictions are easing across the globe, particularly in Europe.
Engine maker Rolls-Royce racked up strong gains a day after Lufthansa's supervisory board backed a €9bn state bailout. Rolls-Royce supplies engines to the German airline.
Specialty chemicals company Johnson Matthey was also in the rise after Citi resumed coverage of the stock at ‘buy’.
On the downside, precious metals miners Polymetal and Fresnillo lost their shine as gold prices fell.
FTSE 100 - Risers
International Consolidated Airlines Group SA (CDI) (IAG) 271.80p 8.46%
Rolls-Royce Holdings (RR.) 324.60p 8.06%
Johnson Matthey (JMAT) 2,300.00p 6.28%
Meggitt (MGGT) 330.90p 5.82%
easyJet (EZJ) 766.00p 5.71%
Standard Chartered (STAN) 421.90p 5.34%
Aviva (AV.) 274.70p 5.29%
Prudential (PRU) 1,154.00p 5.05%
Intermediate Capital Group (ICP) 1,372.00p 4.89%
Glencore (GLEN) 168.88p 4.38%
FTSE 100 - Fallers
Polymetal International (POLY) 1,515.50p -5.49%
Fresnillo (FRES) 768.60p -3.15%
Hargreaves Lansdown (HL.) 1,702.00p -2.66%
Intertek Group (ITRK) 5,392.00p -2.60%
Antofagasta (ANTO) 890.60p -1.70%
Ashtead Group (AHT) 2,468.00p -1.44%
Ocado Group (OCDO) 2,142.00p -1.38%
Tesco (TSCO) 226.50p -1.13%
Hikma Pharmaceuticals (HIK) 2,398.00p -1.11%
Croda International (CRDA) 5,146.00p -0.89%