London’s FTSE 100 was up 0.8% at 7,193.40 in afternoon trade on Monday.
Broadcaster ITV was the standout gainer. CMC Markets analyst Michael Hewson said: “ITV is the best performer for no other reason perhaps than it initially traded at a one month low in early trade, which appears to have prompted a little bit of bargain hunting.”
London Stock Exchange was trading up as Berenberg said the company’s near-term operating outlook has become more assured.
“Following a substantial loss of investor confidence earlier this year, LSE has now largely met the three milestones that we set out previously to enable sentiment to improve,” it said. “Specifically, growth has recovered, improved disclosure has increased understanding of LSE’s new businesses, and the company is over-delivering on its synergy targets. Having fulfilled these pre-requisites to regaining investor confidence, we believe focus can now return to LSE’s significant opportunities to grow recurring revenues in attractive, stable markets.”
Berenberg rates the shares at ‘buy’.
BT was in the black after Numis upgraded its stance on the shares to ‘reduce’ from ‘sell’.
Berkeley was weaker as the housebuilder went ex-dividend.
Bunzl was trading a touch lower even as RBC Capital Markets lifted its price target to 2,450p from 2,270p. The bank retained its ‘sector perform’ rating on the shares, reflecting its longer-term concerns around structural margin pressures, constraints to M&A-driven growth and limited disclosure, set against an undemanding valuation and relatively resilient earnings and cash flow profile.
FTSE 100 – Risers
ITV (ITV) 117.10p 2.58%
Burberry Group (BRBY) 1,931.50p 2.09%
Legal & General Group (LGEN) 284.40p 1.94%
JD Sports Fashion (JD.) 1,052.00p 1.89%
WPP (WPP) 1,008.50p 1.83%
London Stock Exchange Group (LSEG) 8,200.00p 1.64%
BT Group (BT.A) 164.70p 1.64%
DCC (CDI) (DCC) 6,396.00p 1.59%
Intermediate Capital Group (ICP) 2,288.00p 1.55%
Evraz (EVR) 601.80p 1.55%
FTSE 100 – Fallers
Berkeley Group Holdings (The) (BKG) 4,787.50p -7.29%
Fresnillo (FRES) 851.60p -1.25%
British Land Company (BLND) 536.00p -1.07%
Rio Tinto (RIO) 5,354.00p -1.00%
Whitbread (WTB) 3,176.00p -0.94%
Compass Group (CPG) 1,485.50p -0.74%
Flutter Entertainment (CDI) (FLTR) 14,510.00p -0.48%
National Grid (NG.) 937.10p -0.47%
Anglo American (AAL) 3,078.50p -0.40%
Bunzl (BNZL) 2,586.00p -0.31%
