Miners and financial stocks staged a strong rally the day after Donald Trump's election victory as markets around the world melted up.
Fears over the incoming president's protectionist policy stance appear to be on the wane as overnight traders in Asia piled in to the market and erased election night losses.
Japan's Nikkei 225 index staged an astonishing comeback, gaining 6.7% after losses of more than 5% on Wednesday.
TRUMP PLAYBOOK
Yesterday's winners are again to the fore in London as financials, mining stocks and cyclical industrial stocks leader the way.
Copper miner Antofagasta (ANTO) is the biggest blue chip gainer, up 9.8% to 705p, as markets continue to bid up commodity prices. Copper is 4% higher today at $256 (£206) a pound. Antofagasta has gained 26% in the last three trading sessions.
Barclays (BARC) is not far behind, up 5.5% to 203p, as financial stocks gain on the prospects of higher interest rates and better interest rate margins.
Cyclical industrial stocks also feature as Trump pledges to ramp up infrastructure spending: CRH (CRH), the world's biggest producer of ashpalt, equipment hire outfit Ashtead (AHT) and builders merchant Travis Perkins (TPK) all feature in the rally.
Construction trade supplier Grafton (GFTU) is up 6.2% to 570p even as a trading update shows like-for-like revenue growth slowed to 2.4% in the four months to 31 October, versus growth of 4.2% in the preceding six months.
One sector not living up to yesterday's winning playbook is gold miners. Fresnillo (FRES) and Randgold Resources (RRS) give back some of the near-double digit gains achieved in the wake of Trump's election win.
Elsewhere, Wincanton (WIN) surges 8.4% to 202p as chief executive Adrian Colman flags falling net debt and rising profitability as an opportunity to invest further in growing the business. Jucier profit margins helped the logistics specialist to a 19.2% gain in underlying operating profit, at £26.1m. Revenue declined slightly as Wincanton exits loss-making contracts.
RETAIL MOVERS
Branded fashion retailer SuperGroup (SGP) struts 6.4% higher to £15.39 on a better-than-expected first half trading and strategy update. The Superdry brand owner and leading outerwear purveyor shrugged off warm weather in August and September to deliver 12.8% growth in like-for-like sales, with wholesale revenues up almost 44%.
Car parts-to-bicycles retailer Halfords (HFD) reverses almost 3% to 333.7p as interim results reveal a sharp drop in earnings, with margins impacted by the pound's plunge against the dollar, cycling product promotions and investments in long-term growth.
PROFIT WARNINGS
Sausage skins maker Devro (DVO) slumps more than 20% to 180p on a warning 2017 profits will disappoint. Amid muted sales in Latin America, Devro will invest in new products and manufacturing efficiencies to improve its competitive position.
Publisher Johnston Press (JPR) confuses investors with a flaky outlook statement sending shares down 1.8% to 13.6%. Chief executive Ashley Highfield says the newspaper group, which bought the i publication earlier this year, should hit market expectations providing there is no 'further deterioration' in trading conditions.
