London midday: FTSE maintains gains as travel & leisure sector rallies

London equity markets were in the black by midday on Tuesday, with travel and leisure shares on the rise amid vaccines hopes.

The FTSE 100 was up 0.5{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} at 6,498.78. However, the index was underperforming its European peers, with the benchmark Stoxx 600 index up 1.1{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} at 405.21, as oil giant BP slumped after its fourth-quarter results.

Neil Wilson, chief market analyst at Markets.com, said: “Confidence has returned to global equity markets with stocks in Europe higher again this morning after bouncing back on Monday from a choppy final week of January. We can probably put this down to bears lacking any serious catalyst, the combination of stimulus and vaccines still underpinning a broad confidence, and Chinese repo market stress from last week is fading.”

Travel and leisure stocks gained, with InterContinental Hotels, Premier Inn owner Whitbread, cruise operator Carnival and Wizz Air all higher.

As far as Whitbread and IHG are concerned, CMC Markets analyst Michael Hewson put the solid performance down to growing optimism “that the UK’s vaccination program will bring about an earlier easing of restrictions, which these particular brands will be able to take advantage of in the form of stay-at-home holidays”.

Virgin Money advanced after saying it has aside another £726m in bad loan provisions in the first quarter to deal with the impact of the coronavirus pandemic. The lender said it had granted mortgage payment holidays on £12.1bn of loans at December 31, equivalent to around 21{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} of balances, compared with £11.9bn at its fiscal full-year.

On the downside, BP slid after fourth-quarter profits at the oil company fell to a worse-than-expected $115m as the coronavirus epidemic battered energy demand. The company reported a full-year loss of $5.7bn after writing down the value of oil and gas assets by $6.5bn in response to lower long-term energy prices forecasts.

Precious metals miners Fresnillo and Hochschild also lost their shine, having surged on Monday in tandem with silver prices.

Market Movers

FTSE 100 (UKX) 6,498.78 0.50{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
FTSE 250 (MCX) 20,596.40 1.00{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
techMARK (TASX) 4,109.22 0.74{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}

FTSE 100 – Risers

InterContinental Hotels Group (IHG) 4,779.00p 3.73{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Whitbread (WTB) 2,956.00p 3.72{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
International Consolidated Airlines Group SA (CDI) (IAG) 147.70p 3.50{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Informa (INF) 521.00p 3.41{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Prudential (PRU) 1,209.00p 2.94{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Melrose Industries (MRO) 175.55p 2.54{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Intermediate Capital Group (ICP) 1,758.00p 2.51{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Smiths Group (SMIN) 1,491.50p 2.47{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Intertek Group (ITRK) 5,756.00p 2.42{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Coca-Cola HBC AG (CDI) (CCH) 2,242.00p 2.37{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}

FTSE 100 – Fallers

Fresnillo (FRES) 1,029.50p -4.32{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Pearson (PSON) 742.00p -3.28{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
BP (BP.) 258.35p -3.28{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Just Eat Takeaway.Com N.V. (CDI) (JET) 8,222.00p -2.28{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Anglo American (AAL) 2,435.00p -2.27{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Sainsbury (J) (SBRY) 238.00p -1.77{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Morrison (Wm) Supermarkets (MRW) 177.10p -1.53{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Ocado Group (OCDO) 2,802.00p -0.92{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
United Utilities Group (UU.) 938.20p -0.91{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Entain (ENT) 1,273.00p -0.82{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}

FTSE 250 – Risers

Aston Martin Lagonda Global Holdings (AML) 2,236.00p 6.32{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Virgin Money UK (VMUK) 140.00p 6.14{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Wizz Air Holdings (WIZZ) 4,606.00p 4.35{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Provident Financial (PFG) 269.00p 4.10{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Ascential (ASCL) 345.60p 3.85{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Carnival (CCL) 1,215.50p 3.80{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Countryside Properties (CSP) 461.40p 3.69{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Kainos Group (KNOS) 1,322.00p 3.61{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Hammerson (HMSO) 22.14p 3.51{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 419.00p 3.46{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}

FTSE 250 – Fallers

Hochschild Mining (HOC) 234.80p -7.56{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
PureTech Health (PRTC) 372.50p -4.49{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Just Eat Takeaway.Com N.V. (CDI) (JET) 8,222.00p -2.28{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Petropavlovsk (POG) 28.70p -1.88{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Capital & Counties Properties (CAPC) 133.30p -1.84{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
ITV (ITV) 107.60p -1.74{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Petrofac Ltd. (PFC) 120.45p -1.43{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
GCP Student Living (DIGS) 144.60p -1.36{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
AO World (AO.) 317.00p -1.09{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}
Avon Rubber (AVON) 3,070.00p -0.97{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5}