London’s FTSE 100 was up 2.4% at 7,130.53 in afternoon trade on Wednesday.
Anglo-Russian precious metals miner Polymetal was the top performer on the index after saying there had been no disruption to its operations in Russia and Kazakhstan despite sanctions imposed on Russia after its invasion of Ukraine.
Russian steelmaker Evraz also shot higher after saying it had not been affected by international sanctions imposed on Russia.
Recently battered British Airways and Iberia owner IAG flew higher as investors grabbed some bargains.
Electrocomponents rallied after it said in an update that revenue and adjusted operating profit margin were tracking ahead of expectations following a strong performance over the last nine weeks.
Precious metals miner Fresnillo lost its shine as gold prices fell, with miners Rio, Antofagasta, Anglo American and Glencore also weaker.
FTSE 100 – Risers
Polymetal International (POLY) 149.25p 62.19%
Evraz (EVR) 110.25p 41.42%
International Consolidated Airlines Group SA (CDI) (IAG) 134.86p 11.20%
Electrocomponents (ECM) 955.00p 10.02%
Melrose Industries (MRO) 120.30p 10.01%
JD Sports Fashion (JD.) 144.45p 9.64%
St James’s Place (STJ) 1,281.50p 8.60%
Lloyds Banking Group (LLOY) 45.32p 8.02%
Coca-Cola HBC AG (CDI) (CCH) 1,572.50p 7.67%
Intermediate Capital Group (ICP) 1,533.00p 7.54%
FTSE 100 – Fallers
Fresnillo (FRES) 753.80p -6.75%
BAE Systems (BA.) 707.60p -6.20%
Rio Tinto (RIO) 5,683.00p -3.47%
Antofagasta (ANTO) 1,470.50p -3.13%
BP (BP.) 369.50p -2.76%
Anglo American (AAL) 3,733.00p -2.60%
Shell (SHEL) 1,989.30p -2.46%
Royal Mail (RMG) 341.20p -2.15%
Glencore (GLEN) 467.20p -1.89%
Admiral Group (ADM) 2,433.00p -1.26%
