London's FTSE 100 was up 0.2% to 7,189.45 in afternoon trade on Tuesday, as investors digested the latest inflation figures.
Tour operator Tui racked up strong gains as it jetted off to a strong start for its financial year with sales and underlying earnings both much improved on last year, sending its shares to fresh highs.
Turnover of €3.55bn in the three months ending 31 December was up 8.1% or 9.1% at constant currency rates, while losses before interest, tax, depreciation and amortisation of €24.9m was halved from the €60.3m loss a year ago. Just focusing on ongoing operations, EBITDA was positive and grew 86% t
British Land was also higher after it said Sumitomo Mitsui Banking Corporation Europe – a subsidiary of Japan's Sumitomo Mitsui Banking Corp – has signed a 20-year lease for the first three floors of the Liverpool Street redevelopment at Broadgate.
Sumitomo will take up 161,000 square feet, which represents 37% of the office space at the development. The remaining five upper floors range from 20,000 to 60,000 sq ft, each with terraces of up to 10,000 sq ft.
Going the other way, Imperial Brands was under the cosh as Piper Jaffray cut the stock to 'neutral' from 'overweight' and reduced the price target to 2,800p from 3,500p, saying a cheap valuation but a modest earnings per share growth outlook has risks. The US investment bank said it expects further reinvestment spending to weigh on EPS growth as the company expands in vapour and considers a heated tobacco launch.
Piper Jaffray cut its FY18 EPS estimate to 260.5p from 265.7p and its FY19 forecast to 266p from 294p.
Fellow tobacco stock British American Tobacco was also under pressure.
WPP (WPP) 1,331.00p 3.22%
TUI AG Reg Shs (DI) (TUI) 1,644.50p 3.14%
Just Eat (JE.) 841.80p 2.36%
Standard Life Aberdeen (SLA) 400.60p 1.99%
Evraz (EVR) 359.20p 1.96%
Anglo American (AAL) 1,674.20p 1.94%
Glencore (GLEN) 373.20p 1.77%
easyJet (EZJ) 1,636.50p 1.46%
Marks & Spencer Group (MKS) 290.70p 1.32%
British Land Company (BLND) 642.40p 1.07%
Severn Trent (SVT) 1,734.50p -2.88%
United Utilities Group (UU.) 673.80p -1.61%
Imperial Brands (IMB) 2,619.00p -1.60%
BT Group (BT.A) 227.55p -1.24%
British American Tobacco (BATS) 4,420.50p -1.00%
National Grid (NG.) 741.50p -0.99%
Relx plc (REL) 1,475.50p -0.94%
Smith (DS) (SMDS) 472.14p -0.94%
Unilever (ULVR) 3,796.00p -0.86%
Hargreaves Lansdown (HL.) 1,670.00p -0.86%