London’s FTSE 100 was up 0.4% at 7,311.96 in afternoon trade on Friday.
Travel-related stocks were on the rise, with engine maker Rolls-Royce, GKN owner Melrose and British Airways and Iberia parent IAG all higher.
Traders said the sector got a boost after Pfizer announced that its new antiviral Covid pill cuts the risk of hospitalisation or death by 89%.
British Airways owner IAG was also in focus after after saying it narrowed third-quarter losses as more people started to travel with the lifting of Covid restrictions. The company posted an operating loss of €452m compared with a loss of €1.92bn last year when passenger travel came to a virtual standstill.
Standard Chartered was lifted by an upgrade to ‘buy’ from ‘neutral’ at UBS, which pointed to upside options from M&A.
BT was on the rise for a second day in a row following well-received half-year results on Thursday.
FTSE 100 – Risers
Rolls-Royce Holdings (RR.) 142.96p 5.83%
Informa (INF) 549.20p 5.82%
Melrose Industries (MRO) 166.80p 3.86%
ITV (ITV) 112.50p 3.83%
International Consolidated Airlines Group SA (CDI) (IAG) 176.24p 3.80%
BT Group (BT.A) 163.45p 3.58%
Smith & Nephew (SN.) 1,371.00p 3.43%
Compass Group (CPG) 1,604.50p 3.38%
Associated British Foods (ABF) 1,898.00p 2.76%
Standard Chartered (STAN) 458.90p 2.57%
FTSE 100 – Fallers
Croda International (CRDA) 9,380.00p -2.98%
Anglo American (AAL) 2,707.50p -1.67%
Darktrace (DARK) 589.50p -1.59%
Ashtead Group (AHT) 6,280.00p -1.41%
Intertek Group (ITRK) 5,052.00p -1.37%
Evraz (EVR) 598.80p -1.35%
Ocado Group (OCDO) 1,751.00p -1.24%
Antofagasta (ANTO) 1,361.00p -1.13%
Bunzl (BNZL) 2,742.00p -1.12%
Smurfit Kappa Group (CDI) (SKG) 3,854.00p -1.10%
