(Sharecast News) - London's FTSE 100 was up 1% at 8,189.25 in afternoon trade on Friday.
Reckitt Benckiser surged to the top of the index after its subsidiary Mead Johnson was cleared of liability in a US trial investigating whether it - and Abbott - hid bowel disease risks associated with premature-baby formula.
Russ Mould, investment director at AJ Bell, said: "Consumer goods firm Reckitt enjoyed a meaningful relief rally off the back of a ruling in the latest trial on disease risks associated with its baby formula.
"There has been nothing but bad news on this front for Reckitt for some time so it's not a surprise this chink of light has been seized upon by investors in a positive way. There are still plenty of outstanding cases so this issue will not go away for Reckitt overnight, but it certainly represents a crumb of comfort for long-suffering shareholders.
"An eventual resolution of this issue could be a precursor to selling the Mead Johnson business which has been nothing short of a disaster for Reckitt since it was acquired for $16.6 billion in 2017. The company is already on track to sell a portfolio of home care brands like Air Wick and Cillit Bang by the end of next year as CEO Kris Licht continues his restructure of the business."
Schroders was also in the black as BNP Paribas Exane upgraded the stock to 'outperform' from 'neutral' ahead of third-quarter results next week, as it pointed to improving momentum and an attractive valuation.
"We see these results as a potential strong positive catalyst for the stock where the company will outline positive flows in Q3 and beyond and positive fund performance momentum," it said.
"We also expect some strategic repositioning of the company which could include a cost savings program.
"Finally, we see a better outlook for Schroders' Wealth and alternative businesses as deal activity rebounds."
FTSE 100 - Risers
Reckitt Benckiser Group (RKT) 5,076.00p 8.37%
Schroders (SDR) 357.40p 3.90%
GSK (GSK) 1,429.00p 2.62%
Beazley (BEZ) 774.00p 2.45%
Intermediate Capital Group (ICG) 2,106.00p 2.13%
Croda International (CRDA) 3,776.00p 1.92%
Whitbread (WTB) 3,069.00p 1.86%
Legal & General Group (LGEN) 221.10p 1.84%
Imperial Brands (IMB) 2,379.00p 1.80%
BT Group (BT.A) 140.65p 1.74%
FTSE 100 - Fallers
Smurfit Westrock (DI) (SWR) 3,917.00p -2.44%
Smith (DS) (SMDS) 537.50p -1.47%
Flutter Entertainment (DI) (FLTR) 18,000.00p -0.77%
International Consolidated Airlines Group SA (CDI) (IAG) 209.40p -0.71%
CRH (CDI) (CRH) 7,370.00p -0.32%
Vistry Group (VTY) 907.00p -0.27%
Prudential (PRU) 643.00p -0.25%
Sainsbury (J) (SBRY) 265.60p -0.23%
JD Sports Fashion (JD.) 123.75p -0.20%
Entain (ENT) 744.20p -0.11%