London’s FTSE 100 was up 0.9% at 7,095.54 in afternoon trade on Friday.
Miners Glencore, Anglo American, Rio and BHP were all higher, having fallen sharply a day earlier amid worries about the economic recovery.
Burberry was in the black after Goldman Sachs lifted its recommendation on shares of the luxury fashion brand to ‘buy’ from ‘neutral’, pointing to a more attractive risk/reward profile.
The bank, which upped its price target to 2,475p from 2,135p, noted that Burberry has underperformed luxury peers materially – down 36% over the last 12 months and 44% over the last three years – as the brand has been undergoing significant change to elevate its positioning towards a more premium offer, adversely impacting volume.
“With the recent announcement that the CEO is stepping, we believe Burberry is at the finishing stages of its reset,” it said.
Landsec gained after the real estate investment company declared a first-quarter dividend of 7.0p per ordinary share and said it had collected 81% of rent over the past three months.
FTSE 100 – Risers
Evraz (EVR) 609.20p 4.42%
Glencore (GLEN) 317.45p 3.19%
Anglo American (AAL) 2,954.50p 3.00%
Land Securities Group (LAND) 687.60p 3.00%
Burberry Group (BRBY) 2,045.00p 2.92%
British Land Company (BLND) 514.40p 2.88%
Bunzl (BNZL) 2,538.00p 2.88%
Rio Tinto (RIO) 6,029.00p 2.78%
BHP Group (BHP) 2,228.00p 2.77%
Melrose Industries (MRO) 159.05p 2.65%
FTSE 100 – Fallers
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,461.00p -3.78%
Rentokil Initial (RTO) 505.00p -1.79%
B&M European Value Retail S.A. (DI) (BME) 540.00p -1.57%
Polymetal International (POLY) 1,572.50p -0.85%
Sainsbury (J) (SBRY) 281.70p -0.74%
Admiral Group (ADM) 3,109.00p -0.73%
Avast (AVST) 494.90p -0.70%
London Stock Exchange Group (LSEG) 7,816.00p -0.61%
Fresnillo (FRES) 796.60p -0.57%
Reckitt Benckiser Group (RKT) 6,430.00p -0.48%
