FTSE 100 movers: BT rallies; travel stocks hit
London’s FTSE 100 was up 1.7% at 6,028.96 in afternoon trade on Wednesday.
BT was the standout gainer after Bloomberg reported that its executives are working with advisers to defend against potential takeovers and approaches from activists following a slump in the share price.
Dollar earners such as Ashtead, Shell, British American Tobacco, Unilever and BP were all higher amid sterling weakness.
Travel-related stocks took a hit, with Premier Inn owner Whitbread, British Airways owner IAG and InterContinental Hotels all lower, partly on news that AstraZeneca and Oxford University's Covid-19 vaccine trial has been put on hold and partly on concerns about further quarantine restrictions.
Engine maker Rolls-Royce was the worst performer on the index.
IG analyst Joshua Mahony said: "From an airline perspective, the fear is that it will soon be a case of other nations imposing quarantines on the UK as the shoe is placed on the other foot."
FTSE 100 - Risers
BT Group (BT.A) 109.55p 5.18%
Ashtead Group (AHT) 2,819.00p 4.41%
Royal Dutch Shell 'A' (RDSA) 1,103.60p 3.60%
Royal Dutch Shell 'B' (RDSB) 1,059.60p 3.52%
British American Tobacco (BATS) 2,662.00p 3.38%
Unilever (ULVR) 4,712.00p 3.15%
BP (BP.) 266.60p 3.13%
Sainsbury (J) (SBRY) 193.15p 2.90%
Vodafone Group (VOD) 110.30p 2.89%
Admiral Group (ADM) 2,679.00p 2.88%
FTSE 100 - Fallers
Rolls-Royce Holdings (RR.) 212.30p -3.02%
Whitbread (WTB) 2,396.00p -2.24%
ITV (ITV) 63.10p -2.11%
International Consolidated Airlines Group SA (CDI) (IAG) 203.80p -1.92%
InterContinental Hotels Group (IHG) 4,400.00p -1.72%
Legal & General Group (LGEN) 199.65p -1.70%
M&G (MNG) 157.50p -1.59%
Associated British Foods (ABF) 1,928.00p -1.58%
Avast (AVST) 545.00p -1.45%
Persimmon (PSN) 2,476.00p -1.43%