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(Sharecast News) - Shares in air travel-related and insurance companies paced gains on the top-flight index as it extended the previous day's bear market rally amid bargain hunting.
"Looking at the risers and fallers on the FTSE 350, it is clear that there is plenty of bargain-hunting going on. With two exceptions, the fallers remain in single-digit percentages, while almost 20% of the index is enjoying double-digit percentage gains," said IG chief market analyst Chris Beauchamp.
"Bear market rallies are brutal things, but as a host of strategists have pointed out, the deep discounts in UK assets in recent years have turned into a complete firesale, with companies trading at historically low valuations. Those prepared to wait long enough are snapping up some impressive bargains."
Among air travel related stocks near the top of the leaderboard were easyJet, Whitbread, InterContinental Hotels Group, and Rolls Royce.
Likely helping to offset selling pressure on the latter's shares was news that the $2trn economic relief package that was set to be approved on Capitol Hill included measures aimed specifically at one of its largest clients, Boeing.
Nonetheless, it was JD Sports Fashion that was pacing advancers on the Footsie, a day after reassuring shareholders about its liquidity position.
M&G, Phoenix Group, Standard Life Aberdeen and Legal & General were all moving higher as well.
To take note of, back on 10 January analysts at JP Morgan had told clients that the former of those was trading at an unjustified discount to its peers.
Other blue chips including BP and RBS were also lending their weight to the advance.
Market Movers
FTSE 100 (UKX) 5,634.67 3.46%
FTSE 100 - Risers
JD Sports Fashion (JD.) 520.60p 20.48%
Persimmon (PSN) 1,933.00p 14.28%
Associated British Foods (ABF) 1,832.00p 13.97%
Rolls-Royce Holdings (RR.) 393.20p 12.31%
easyJet (EZJ) 650.80p 12.21%
Whitbread (WTB) 3,015.00p 12.08%
Legal & General Group (LGEN) 180.95p 12.01%
InterContinental Hotels Group (IHG) 3,396.00p 11.34%
Phoenix Group Holdings (PHNX) 620.00p 11.21%
Standard Life Aberdeen (SLA) 222.90p 10.68%
FTSE 100 - Fallers
Rentokil Initial (RTO) 334.80p -9.61%
Polymetal International (POLY) 1,269.50p -3.79%
Melrose Industries (MRO) 99.50p -3.73%
Coca-Cola HBC AG (CDI) (CCH) 1,742.50p -3.19%
Land Securities Group (LAND) 594.40p -3.00%
Morrison (Wm) Supermarkets (MRW) 175.00p -2.64%
HSBC Holdings (HSBA) 503.50p -2.23%
BT Group (BT.A) 130.14p -2.02%
Spirax-Sarco Engineering (SPX) 8,400.00p -1.81%
Halma (HLMA) 1,817.00p -1.41%
2 May 2024 13:49
UK dividends calendar - next 7 days
| Friday 3 May | |
| Anglo American PLC | dividend payment date |
| Beazley PLC | dividend payment date |
| BP Marsh & Partners PLC | dividend payment date |
| CT UK High Income Trust PLC | dividend payment date |
| CT UK High Income Trust PLC - Class B | dividend payment date |
| European Smaller Cos Trust PLC | dividend payment date |
| Glanbia PLC | dividend payment date |
| Hikma Pharmaceuticals PLC | dividend payment date |
| i3 Energy PLC | dividend payment date |
| Marble Point Loan Financing Ltd | dividend payment date |
| Maven Income & Growth VCT 3 PLC | dividend payment date |
| Maven Income & Growth VCT 5 PLC | dividend payment date |
| North American Income Trust PLC | dividend payment date |
| Pearson PLC | dividend payment date |
| Segro PLC | dividend payment date |
| Synectics PLC | dividend payment date |
| TwentyFour Income Fund Ltd | dividend payment date |
| TwentyFour Select Monthly Income Fund Ltd | dividend payment date |
| Monday 6 May | |
| no events scheduled | |
| Tuesday 7 May | |
| Begbies Traynor Group PLC | dividend payment date |
| Ferguson PLC | dividend payment date |
| Manchester & London Investment Trust PLC | dividend payment date |
| Mobius Investment Trust PLC | dividend payment date |
| Nexus Infrastructure PLC | dividend payment date |
| Pebble Group PLC | dividend payment date |
| Pinewood Technologies Group PLC | special dividend payment date |
| Thungela Resources Ltd | dividend payment date |
| Volution Group PLC | dividend payment date |
| Wednesday 8 May | |
| Melrose Industries PLC | dividend payment date |
| Personal Group Holdings PLC | dividend payment date |
| Thursday 9 May | |
| Admiral Group PLC | ex-dividend payment date |
| AG Barr PLC | ex-dividend payment date |
| Aurora Investment Trust PLC | ex-dividend payment date |
| Balanced Commercial Property Trust Ltd | ex-dividend payment date |
| Bank of Ireland Group PLC | ex-dividend payment date |
| Bellevue Healthcare Trust PLC | ex-dividend payment date |
| Braime Group PLC | ex-dividend payment date |
| Centaur Media PLC | ex-dividend payment date |
| Chenavari Toro Income Fund Ltd | ex-dividend payment date |
| Clarkson PLC | ex-dividend payment date |
| Coca-Cola Europacific Partners PLC | ex-dividend payment date |
| Custodian Property Income REIT PLC | ex-dividend payment date |
| CVC Income & Growth Ltd EURO | ex-dividend payment date |
| CVC Income & Growth Ltd GBP | ex-dividend payment date |
| Domino's Pizza Group PLC | dividend payment date |
| Epwin Group PLC | ex-dividend payment date |
| F&C Investment Trust PLC | dividend payment date |
| Fidelity Special Values PLC | ex-dividend payment date |
| Focusrite PLC | ex-dividend payment date |
| Grafton Group PLC | dividend payment date |
| Gresham Technologies PLC | ex-dividend payment date |
| Headlam Group PLC | ex-dividend payment date |
| Henderson International Income Trust PLC | ex-dividend payment date |
| HSBC Holdings PLC | ex-dividend payment date |
| Ibstock PLC | ex-dividend payment date |
| Invesco Perpetual UK Smaller Cos Investment Trust PLC | ex-dividend payment date |
| JPMorgan Global Core Real Assets Ltd | ex-dividend payment date |
| Lancashire Holdings Ltd | ex-dividend payment date |
| LSL Property Services PLC | ex-dividend payment date |
| M&C Saatchi PLC | ex-dividend payment date |
| M&G PLC | dividend payment date |
| Macfarlane Group PLC | ex-dividend payment date |
| Marwyn Value Investors Ltd | ex-dividend payment date |
| Midwich Group PLC | ex-dividend payment date |
| Montanaro UK Smaller Cos Investments Trust PLC | dividend payment date |
| Octopus Titan VCT PLC | ex-dividend payment date |
| One Media iP Group PLC | ex-dividend payment date |
| Petershill Partners PLC | ex-dividend payment date |
| Picton Property Income Ltd | ex-dividend payment date |
| PRS REIT PLC | ex-dividend payment date |
| Reach PLC | ex-dividend payment date |
| Sherborne Investors Guernsey C Ltd | ex-dividend payment date |
| Sthree PLC | ex-dividend payment date |
| Sylvania Platinum Ltd | ex-dividend payment date |
| Taylor Maritime Investments Ltd | ex-dividend payment date |
| Tracsis PLC | ex-dividend payment date |
| Travis Perkins PLC | dividend payment date |
| UIL Ltd | ex-dividend payment date |
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