FTSE 100 movers: IAG flies higher; 3i falls despite upgrade
London’s FTSE 100 was up 0.3% at 6,576.78 in afternoon trade on Wednesday.
British Airways owner IAG and engine maker Rolls-Royce were among the top gainers amid optimism over Covid-19 vaccines.
Neil Wilson, chief market analyst at Markets.com, said: “"As the UK’s vaccination programme begins, the Oxford University and AstraZeneca vaccine has been confirmed as being safe and effective in a Lancet study. The news further underpinned confidence in the reopening trade.
"Meanwhile the FDA has confirmed the efficacy and safety of the Pfizer/BioNTech vaccine, clearing the way for its imminent approval for use in the US."
Stocks that have benefited from the coronavirus pandemic and related restrictions were also on the rise, with Just Eat Takeaway and Ocado both higher, perhaps amid expectations they will also benefit from increased demand over the Christmas period.
On the downside, 3i Group lost ground despite an upgrade to ‘buy’ at Citi.
FTSE 100 - Risers
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,906.00p 4.97%
BT Group (BT.A) 140.45p 4.74%
International Consolidated Airlines Group SA (CDI) (IAG) 167.55p 3.94%
DCC (DCC) 5,618.00p 3.35%
Kingfisher (KGF) 272.00p 3.23%
Rolls-Royce Holdings (RR.) 129.95p 2.93%
National Grid (NG.) 896.40p 2.77%
Evraz (EVR) 440.00p 2.76%
Ocado Group (OCDO) 2,310.00p 2.67%
Taylor Wimpey (TW.) 161.35p 2.54%
FTSE 100 - Fallers
Fresnillo (FRES) 1,121.50p -2.98%
CRH (CRH) 3,020.00p -2.39%
Polymetal International (POLY) 1,664.00p -2.12%
Rio Tinto (RIO) 5,356.00p -1.62%
Ashtead Group (AHT) 3,248.00p -1.58%
Pearson (PSON) 668.40p -1.50%
Admiral Group (ADM) 2,783.00p -1.45%
Associated British Foods (ABF) 2,260.00p -1.44%
3i Group (III) 1,144.50p -1.38%
Rentokil Initial (RTO) 496.20p -1.23%