London’s FTSE 100 was up 1.2% at 7,007.03 in afternoon trade on Wednesday.
Building materials group CRH was the standout gainer after Jefferies said strong results from US peers Martin Marietta and Vulcan Materials are positive for the company.
“We continue to see scope for meaningful earnings upgrades which we believe will support share price momentum through the year,” Jefferies said.
Miners Anglo American, BHP, Glencore and Rio Tinto all rallied as metals prices rose.
IG market analyst Joshua Mahony said: “Mining stocks are enjoying a welcome boost in early trade today, with surging prices across a host of commodities driving up valuations in the sector. Copper prices have been rising steadily of late, with prices touching $10,000 as inventories dwindle in the face of insufficient supply.”
Croda International gained as it announced a strategic review of its Performance Technologies and Industrial Chemicals (PTIC) businesses to establish what ownership structure best serves this part the business “to create a stronger platform for its future growth”.
Going the other way, Just Eat Takeaway and online supermarket Ocado – both of which have benefitted from restrictions and lockdowns – fell.
FTSE 100 – Risers
CRH (CDI) (CRH) 3,563.00p 4.06%
Anglo American (AAL) 3,201.50p 4.05%
Croda International (CRDA) 6,896.00p 3.64%
BHP Group (BHP) 2,274.50p 3.55%
Taylor Wimpey (TW.) 179.65p 3.46%
Glencore (GLEN) 305.85p 3.26%
Rio Tinto (RIO) 6,304.00p 3.04%
Burberry Group (BRBY) 2,137.00p 2.74%
Smurfit Kappa Group (CDI) (SKG) 3,777.00p 2.55%
Evraz (EVR) 656.60p 2.53%
FTSE 100 – Fallers
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,131.00p -1.91%
Ocado Group (OCDO) 1,966.50p -1.87%
Land Securities Group (LAND) 719.40p -1.61%
SEGRO (SGRO) 999.20p -0.92%
Fresnillo (FRES) 847.80p -0.42%
Rolls-Royce Holdings (RR.) 100.80p -0.41%
Hikma Pharmaceuticals (HIK) 2,351.00p -0.38%
BAE Systems (BA.) 498.40p -0.32%
British American Tobacco (BATS) 2,710.50p -0.17%
International Consolidated Airlines Group SA (CDI) (IAG) 203.35p -0.15%
