London’s FTSE 100 was up 1.2% at 7,656.26 in afternoon trade on Wednesday.
British Airways and Iberia parent IAG was the standout gainer on the index.
In terms of sectors, paper and packaging companies were among the top performers after corrugated packaging group Smurfit Kappa hiked its dividend by 10% and reported a jump in full-year revenue and earnings amid solid demand.
Mondi and DS Smith were high risers.
Russ Mould, investment director at AJ Bell, said: “Smurfit Kappa helped lift its industry peers with guidance for rising prices that should benefit the entire space amid strong demand.”
Insurer Admiral was on the front foot after an upgrade to ‘buy’ at HSBC.
GlaxoSmithKline was in the red even after the pharmaceuticals giant said Covid-related sales hit £1.4bn last year as it reported better-than-expected fourth-quarter earnings.
FTSE 100 – Risers
International Consolidated Airlines Group SA (CDI) (IAG) 173.74p 3.94%
Mondi (MNDI) 1,926.00p 3.74%
Ashtead Group (AHT) 5,150.00p 3.64%
Kingfisher (KGF) 318.20p 3.61%
BP (BP.) 412.75p 3.45%
Whitbread (WTB) 3,172.00p 3.36%
Smith (DS) (SMDS) 376.90p 3.23%
Admiral Group (ADM) 3,048.00p 3.15%
ITV (ITV) 118.40p 3.14%
Royal Mail (RMG) 452.30p 3.01%
FTSE 100 – Fallers
Evraz (EVR) 443.20p -3.88%
Standard Chartered (STAN) 558.40p -2.28%
Airtel Africa (AAF) 139.40p -1.62%
Unilever (ULVR) 3,837.50p -1.01%
Sainsbury (J) (SBRY) 279.00p -0.96%
HSBC Holdings (HSBA) 558.70p -0.85%
Prudential (PRU) 1,240.00p -0.80%
GlaxoSmithKline (GSK) 1,632.20p -0.71%
Legal & General Group (LGEN) 287.00p -0.45%
Imperial Brands (IMB) 1,772.50p -0.20%
