FTSE 100 movers: Airlines fly higher on Ryanair guidance; Mondi retreats

(Sharecast News) - London's FTSE 100 was up 0.1% at 7,606.17 in afternoon trade on Friday as investors mulled the latest US non-farm payrolls report.
NMC Health was on the front foot following heavy losses earlier in the week after two shareholders sold off a £375m stake in the UAE healthcare operator.

British Airways and Iberia parent IAG and Easyjet flew higher after Ryanair lifted its full-year profit guidance after a stronger-than-expected Christmas and New Year.

Polymetal International rallied after Berenberg upgraded the stock to 'buy' from 'hold'.

The bank noted that since initiating coverage of the stock in July, it had been hold-rated on valuation, despite being "very positive" on the medium-term outlook for the stock. Since then, it has watched as the gold price has drifted higher, taking Polymetal with it.

"In line with our gold price update, a net asset value roll forward and taking into account deleveraging over the course of 2019, and, on a blended valuation of 1.2x NAV and 9x FY 2020E EBITDA (up from 8x to reflect multiple expansion as a result of higher gold prices), we arrive at a GBp1,480 price target, which, with 20% upside in addition to a 4% dividend yield (not taking into account special dividend upside which looks increasingly likely), supports our upgrade to a buy rating."

Berenberg said one of the main reasons it likes Polymetal is the attractive production growth the company has, and cost downside.

On the downside, paper and packaging firm Mondi was weaker after announced that chief executive Peter Oswald would step down and leave the group on March 31.

FTSE 100 - Risers

NMC Health (NMC) 1,405.00p 4.85%
International Consolidated Airlines Group SA (CDI) (IAG) 665.20p 4.82%
easyJet (EZJ) 1,485.00p 3.23%
Coca-Cola HBC AG (CDI) (CCH) 2,682.00p 2.09%
Just Eat (JE.) 900.00p 1.81%
Pearson (PSON) 633.00p 1.28%
BP (BP.) 497.30p 1.07%
Auto Trader Group (AUTO) 569.00p 1.03%
Polymetal International (POLY) 1,220.50p 0.95%
Smith & Nephew (SN.) 1,864.50p 0.95%

FTSE 100 - Fallers

Mondi (MNDI) 1,659.50p -3.07%
Kingfisher (KGF) 211.30p -2.85%
Lloyds Banking Group (LLOY) 60.38p -2.38%
Morrison (Wm) Supermarkets (MRW) 188.35p -2.18%
Smurfit Kappa Group (SKG) 2,808.00p -2.16%
Royal Bank of Scotland Group (RBS) 234.40p -1.80%
Sainsbury (J) (SBRY) 220.30p -1.78%
Associated British Foods (ABF) 2,615.00p -1.69%
Standard Life Aberdeen (SLA) 311.50p -1.58%
Tesco (TSCO) 249.60p -1.46%