- The FTSE 100 rebounded on Wednesday following a sharp decline a day earlier, led by miners and a recovery in travel-related stocks despite ongoing uncertainty about impact of the omicron strain of the Covid-19.

By midday the index was up 1.5% to 7,161.81.

British Airways owner IAG was up more than 4%, Easyjet was up 5%, while Anglo American, Glencore were also in the ascendency.

Power company Drax said it expected core earnings to be within the top end of market expectations as higher power prices bolstered performance. Its share were up 6.9% to 587.7p.

Brokerage company Peel Hunt reported a slump in first-half profit, owing to costs of its initial public offering, and a slump in revenue as trading activity normalised from levels seen during the pandemic. Its shares were up flat at 211p.

Construction materials supplier Brickability reported a surge in first-half profit as revenue nearly trebled thanks to a boost from acquisitions. Its shares were up 1.9% to 107.5p.

Insurance company Aviva said it had sold its Italian Life Insurance businesses to CNP Assurances for £462 million. Its shares were up 2.36% to 394.1p.

Gambling company 888 said it would launch a sport betting service in Virginia next after securing a provisional sports betting licence from the Virginia Lottery. its shares were up 2.26% to 317.2p.

IG Group said it would sell North American Derivatives Exchange and Small Exchange to Foris DAX Markets for $216 million. Its shares climbed by 0.58% to 776p.

Wealth management company Team reported a rise in assets under management as client assets swelled.

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