(ShareCast News) - London's blue-chip market was still in the black by mid-afternoon Friday, recovering some of the week's losses, with the FTSE 100 was up 19.22 points (0.32%) to 5,973.30 points.Tesco led the risers as Barclays upgraded the stock to 'overweight' from 'equalweight'. It said recent share price underperformance has left Tesco's valuation at attractive levels, although the bank remains conscious of the headwinds facing the UK food retail market."In particular, it now offers a reasonably visible double-digit free cash flow yield and is trading in-line with Sainsbury's on an EV/sales basis for the first time in many years," Barclays said. In addition, it reckons there are a number of likely helpful catalysts in the coming months. Barclays expects the full year results in April will shed more light on the cost saving opportunity, together with some clarity on guidance.BAE Systems rose over 3.6%, continuing the company's upward trend after RBC Capital Markets upgraded it from 'outperform' to 'top pick', and raising the target price from 570p to 630p.The investment bank said in a note on Wednesday that it thinks the tide has turned for US defence spending. "We think investors continue to underestimate the fact that this is BAE's largest end market (~40% of sales), and that its portfolio is well placed to benefit in both shorter cycle (e.g. USN maintenance) and later cycle (eg F-35, AMPV, ACV) areas of US DoD spending." It also believed that investors were overly concerned about the defence spending outlook for Saudi Arabia - concerns it believed were unfounded.EasyJet also took off after Moody's assigned an inaugural Baa1 long-term issuer rating to the budget airline with a 'stable' outlook.In a note to clients, Moody's said the Baa1 rating is supported by the company's strong business profile with a broad and dense network across Europe. Sven Reinke, senior credit officer at the ratings agency and lead analyst for easyJet, said, "The airline's strong positioning as one of the largest European point-to-point airlines with a dense route network and leading positions at many top airports, coupled with its resilient business model throughout the economic cycle, and very strong financial profile and conservative financial policy."The biggest faller of the day was Sports Direct International, which plunged just before lunchtime after saying it is no longer confident of meeting its adjusted underlying core earnings target for the full year due to deteriorating trading conditions on the high street and unseasonal weather over Christmas.The sports clothing and equipment retailer, which came under scrutiny recently after a damning Guardian report about the way it treats its warehouse staff, said it is now unlikely to meet its adjusted underlying earnings before interest, taxes, depreciation and amortisation target of £420m for the full year. "In light of these factors, and in anticipation of similar trading conditions between now and the end of April, management's current expectation for the full year is for adjusted underlying EBITDA (before share scheme costs) of between £380m and £420m," it said.FTSE 100 - RisersTesco (TSCO) 147.95p 6.29%BAE Systems (BA.) 524.00p 3.66%easyJet (EZJ) 1,723.00p 3.24%Vodafone Group (VOD) 225.20p 3.21%GKN (GKN) 283.60p 3.20%Travis Perkins (TPK) 1,956.00p 2.68%Aberdeen Asset Management (ADN) 255.40p 2.57%Rolls-Royce Holdings (RR.) 560.00p 2.56%London Stock Exchange Group (LSE) 2,574.00p 2.47%Standard Life (SL.) 367.30p 2.45%FTSE 100 - FallersSports Direct International (SPD) 435.30p -14.98%Royal Dutch Shell 'B' (RDSB) 1,416.50p -3.11%Royal Dutch Shell 'A' (RDSA) 1,410.00p -3.06%Associated British Foods (ABF) 3,063.00p -1.57%Ashtead Group (AHT) 1,031.00p -1.53%Anglo American (AAL) 237.00p -1.52%BP (BP.) 333.15p -1.35%Marks & Spencer Group (MKS) 433.50p -1.30%Next (NXT) 6,850.00p -1.30%Antofagasta (ANTO) 406.20p -1.07%
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