(Sharecast News) – London’s FTSE 100 was up 3.7% at 6,858.40 in afternoon trade on Wednesday.
Banks were the top performers amid rising bond yields.
Standard Chartered was also lifted after Jefferies said lower credit costs will boost the bank’s earnings more than investors expect, nudged up its price target and reiterated its ‘buy’ rating.
Construction materials company CRH jumped amid expectations it could benefit from increased infrastructure spending in the US if Joe Biden has a freer hand.
Informa gained after it said 2020 results would be in line with guidance as the company’s subscription businesses helped offset the impact of Covid-19 on its events operations.
On the downside, Bunzl was knocked lower by a downgrade to ‘underperform’ from ‘neutral’ at Credit Suisse.
Discount retailer B&M European Value Retail was also weaker a day ahead of its third-quarter trading update.
FTSE 100 – Risers
Standard Chartered (STAN) 507.00p 8.77%
HSBC Holdings (HSBA) 408.75p 7.96%
WPP (WPP) 834.60p 7.41%
CRH (CRH) 3,367.00p 7.40%
Barclays (BARC) 153.62p 7.28%
Glencore (GLEN) 272.20p 7.12%
Informa (INF) 570.40p 6.22%
Lloyds Banking Group (LLOY) 37.18p 5.59%
International Consolidated Airlines Group SA (CDI) (IAG) 157.65p 5.49%
Aviva (AV.) 346.20p 5.48%
FTSE 100 – Fallers
Aveva Group (AVV) 3,391.00p -3.28%
Bunzl (BNZL) 2,492.00p -1.19%
London Stock Exchange Group (LSE) 9,016.00p -0.22%
Croda International (CRDA) 6,620.00p -0.21%
Sage Group (SGE) 581.20p -0.21%
Just Eat Takeaway.Com N.V. (CDI) (JET) 8,720.00p -0.16%
B&M European Value Retail S.A. (DI) (BME) 533.00p -0.11%
Admiral Group (ADM) 3,029.00p 0.00%
Rightmove (RMV) 640.40p 0.03%
Kingfisher (KGF) 284.70p 0.11%