FTSE 100 Higher as European Markets Mixed; Mitchells & Butlers Shares Rally

The FTSE 100 inched about 0.2% higher on Friday morning, supported by gains in travel, energy and commodity names, even as broader European markets showed a mixed tone. 

Germany’s DAX slipped 0.1% while France’s CAC 40 was flat.

EasyJet led the FTSE 100, rising 2.5% after receiving support from Bernstein. The firm set a new price target of 560 pence and maintained its Outperform stance, helping lift the airline’s shares to 496.5 pence. Engineering group Weir was another strong performer, up 1.6%.

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Miners and energy companies also contributed to the index’s advance. Metlen Energy & Metals, Glencore, Antofagasta, BP, Rio Tinto and Fresnillo all traded higher in early dealings, adding momentum to the commodities-heavy benchmark.

On the downside, Whitbread fell 6.5%. Luxury fashion house Burberry declined 2.4%, while Games Workshop slipped 1.8%.

The more domestically focused FTSE 250 was unchanged, reflecting a quieter session for mid-cap stocks.

One of the session’s standout moves came from Mitchells & Butlers, whose shares surged 9% after the pub operator reported higher annual profits and a solid start to its new financial year. 

In the United States, markets are scheduled to open at 9:30 a.m. Eastern. The New York Stock Exchange, the Nasdaq Stock Market and over-the-counter markets will shut early at 1 p.m., marking a shortened trading day following the Thanksgiving holiday.