A positive outlook for travel groups helped the FTSE 100 to record a modest rise today, offsetting a poor day for the mining companies.
British Airways was the FTSE 100's biggest percentage gainer, with travel companies Thomas Cook and TUI taking silver and bronze in the blue-chip index's medal table.
British Airways benefited from Citigroup raising its price target up from 300p to 350p, and maintaining a buy rating on the stock, and from reports that it is seeking to forge closer links with American Airlines. The shares ended the day at 275.75p, an increase of 20.75p.
Thomas Cook and TUI made gains on the back of a Dresdner Kleinwort survey of travel agents ahead of the companies' third-quarter results next week. Thomas Cook was up 17p to 237.25p, while TUI climbed 17p to 237.5p.
The FTSE 100 closed up 11.7 points, a rise of just 0.2%, to 5489.2.
Other risers included the building materials group Wolseley. After a big rise on Tuesday, the shares climbed again amid further talk that it could sell its US operations. Wolseley ended the day at 420.75p, up 25p.
Royal Bank of Scotland closed up 7.5p to 240.5p as its results turned out better than feared.
Among the miners, who suffered from falling metals prices, Kazakhmys was the biggest loser, down 6.5% or 86p to £12.48.
