London’s FTSE 100 was up 1.2% at 7,195.91 in afternoon trade on Thursday.
Miners were on the front foot as metals prices rose, with Antofagasta, Glencore, Anglo American and Rio Tinto all higher.
BA owner IAG was also a high riser as a strike action by 700 British Airways check-in staff at Heathrow was suspended after the airline made a “vastly improved” pay offer. The Unite union said an agreement was reached after “extensive” talks. Its members along with those from the GMB will now be balloted on the new pay deal.
RS Group gained as it said full-year revenues and profit were set to be “slightly above” current consensus estimates following a strong first quarter.
On the downside, Entain fell after saying that online gaming revenue would be flat in the current year, as customers started to cut back on spending amid soaring inflation and prices.
Housebuilder Persimmon slumped even as it said it expects half-year profits to be “modestly” higher than expectations, despite rising energy and raw materials prices and wage increases.
FTSE 100 – Risers
Antofagasta (ANTO) 1,112.00p 6.92%
Glencore (GLEN) 435.80p 6.70%
Anglo American (AAL) 2,791.50p 6.18%
BP (BP.) 390.50p 5.93%
International Consolidated Airlines Group SA (CDI) (IAG) 110.22p 4.20%
Rio Tinto (RIO) 4,880.50p 4.12%
Standard Chartered (STAN) 599.20p 3.63%
RS Group (RS1) 890.50p 3.55%
Airtel Africa (AAF) 143.50p 3.39%
Shell (SHEL) 2,038.75p 3.27%
FTSE 100 – Fallers
Entain (ENT) 1,061.00p -6.93%
Flutter Entertainment (CDI) (FLTR) 8,058.00p -4.50%
Persimmon (PSN) 1,791.50p -3.94%
Smith & Nephew (SN.) 1,134.00p -2.66%
Coca-Cola HBC AG (CDI) (CCH) 1,790.50p -2.56%
British American Tobacco (BATS) 3,403.00p -2.45%
Aveva Group (AVV) 2,307.00p -2.37%
Diageo (DGE) 3,539.00p -1.99%
Reckitt Benckiser Group (RKT) 6,270.00p -1.45%
London Stock Exchange Group (LSEG) 7,592.00p -0.99%
