FTSE 100 movers: EasyJet, oil giants gain ground
London’s FTSE 100 was up 0.5% at 8,356.50 in afternoon trade on Tuesday.
EasyJet flew higher after Morgan Stanley, Barclays and Peel Hunt lifted their price targets on the stock.
Oil giants BP and Shell were among the top performers as oil prices edged higher ahead of this week’s OPEC+ meeting.
Ashtead was also in the black after RBC Capital Markets upgraded shares of the equipment rental firm to ‘outperform’ from ‘sector perform’ and hiked the price target to 7,450p from 5,200p.
The bank said it has become increasingly optimistic on the relative prospects for the US economy relative to the rest of the world.
"We are aware that this is the broad consensus already but, taking our cues from the FX and fixed income markets, we think this could re-invigorate US construction activity which has been adjusting to higher interest rates," it said.
"This should kick-start more positive earnings per share momentum for Ashtead after an underwhelming 12 months."
FTSE 100 - Risers
Centrica (CNA) 130.95p 3.76%
easyJet (EZJ) 565.20p 3.37%
Antofagasta (ANTO) 1,761.50p 2.71%
BP (BP.) 388.70p 2.13%
Shell (SHEL) 2,566.00p 2.07%
Glencore (GLEN) 384.75p 2.04%
Ashtead Group (AHT) 6,398.00p 1.94%
AstraZeneca (AZN) 10,756.00p 1.91%
Fresnillo (FRES) 659.50p 1.85%
Rio Tinto (RIO) 5,062.00p 1.85%
FTSE 100 - Fallers
BT Group (BT.A) 158.20p -1.68%
British American Tobacco (BATS) 2,970.00p -1.00%
Beazley (BEZ) 787.00p -0.76%
Rentokil Initial (RTO) 399.20p -0.72%
Berkeley Group Holdings (The) (BKG) 4,132.00p -0.67%
SSE (SSE) 1,764.00p -0.65%
Experian (EXPN) 3,724.00p -0.56%
Schroders (SDR) 313.00p -0.51%
Convatec Group (CTEC) 235.60p -0.51%
Taylor Wimpey (TW.) 128.60p -0.43%