London’s FTSE 100 was up 0.4% at 7,107.71 in afternoon trade on Tuesday.
Intermediate Capital Group was the standout gainer as it increased its fundraising target after an exceptional performance by its investment arm caused annual profit to more than quadruple.
Aviva shares rallied after activist investor Cevian Capital said it had built a 4.95% stake in the insurer and called on it to return £5bn to shareholders next year and be more aggressive with cost-cutting.
B&M European Value Retail was higher after Berenberg lifted its price target on the buy-rated stock to 625p from 600p. We believe the share price fall despite a robust set of results creates an attractive entry point,” it said.
Shell gushed lower as oil prices fell, while British Airways owner IAG took a hit after a downgrade to ‘neutral’ at Goldman Sachs.
FTSE 100 – Risers
Intermediate Capital Group (ICP) 2,279.00p 5.71%
Flutter Entertainment (CDI) (FLTR) 13,825.00p 4.81%
InterContinental Hotels Group (IHG) 5,176.00p 4.06%
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,628.00p 3.77%
Ocado Group (OCDO) 1,946.00p 3.73%
Entain (ENT) 1,793.00p 3.52%
Aviva (AV.) 422.20p 2.80%
Whitbread (WTB) 3,318.00p 2.72%
B&M European Value Retail S.A. (DI) (BME) 539.20p 2.59%
Schroders (SDR) 3,662.00p 2.52%
FTSE 100 – Fallers
M&G (MNG) 243.20p -2.17%
Evraz (EVR) 636.80p -1.39%
Royal Dutch Shell ‘B’ (RDSB) 1,310.60p -1.37%
Royal Dutch Shell ‘A’ (RDSA) 1,374.00p -1.34%
Lloyds Banking Group (LLOY) 49.08p -1.12%
Melrose Industries (MRO) 165.30p -0.99%
Taylor Wimpey (TW.) 171.65p -0.98%
International Consolidated Airlines Group SA (CDI) (IAG) 199.94p -0.92%
NATWEST GROUP PLC ORD 100P (NWG) 208.30p -0.76%
Legal & General Group (LGEN) 280.70p -0.74%
