FTSE 100 movers: Miners, banks gain; Fesnillo loses its shine

London’s FTSE 100 was down 0.1% at 9,635.19 in afternoon trade on Monday.

Fresnillo Saucito mine

Source: Sharecast

Miners Antofagasta and Glencore were among the top performers as copper prices rose.

Banks also rose, with Standard Chartered, NatWest, Barclays and Lloyds all up.

Barclays was in focus after it announced plans to expand its investment bank business in Saudi Arabia.

GSK advanced after saying it had bought the worldwide rights from French biotech firm Syndivia to develop and sell a treatment for metastatic castration-resistant prostate cancer.

On the downside, precious metals miner Fresnillo lost its shine as gold prices pulled back amid increased risk appetite.

Frank Walbaum, market analyst at Naga, said: "Gold fell toward $4,000 per ounce on Monday, extending last week’s sharp decline, as optimism around US-China trade negotiations reduced safe-haven demand. Hopes that President Donald Trump and President Xi Jinping could move closer to a trade agreement at their meeting later this week lifted investor confidence, which could favour riskier assets.

"The metal now enters a pivotal week for global monetary policy. The Federal Reserve is widely expected to deliver a 25-basis-point rate cut on Wednesday, providing a soft floor for bullion. In contrast, both the European Central Bank and the Bank of Japan are expected to hold rates steady, underscoring a diverging policy backdrop and potentially placing additional selling pressure on the precious metal.

"Markets will pay close attention to Chair Jerome Powell’s forward guidance. Dovish remarks could weigh on US treasuries and benefit gold prices."

FTSE 100 - Risers

Standard Chartered (STAN) 1,460.00p 2.46%
St James's Place (STJ) 1,368.00p 2.17%
NATWEST GROUP (NWG) 583.00p 1.85%
Burberry Group (BRBY) 1,319.50p 1.77%
Antofagasta (ANTO) 2,722.00p 1.72%
Glencore (GLEN) 351.65p 1.62%
Barclays (BARC) 394.40p 1.57%
GSK (GSK) 1,645.00p 1.54%
Lloyds Banking Group (LLOY) 87.04p 1.37%
Legal & General Group (LGEN) 243.80p 1.29%

FTSE 100 - Fallers

Fresnillo (FRES) 2,138.00p -3.35%
Flutter Entertainment (DI) (FLTR) 18,310.00p -2.94%
JD Sports Fashion (JD.) 99.28p -1.41%
BT Group (BT.A) 184.60p -1.26%
SEGRO (SGRO) 718.40p -1.21%
Entain (ENT) 814.80p -1.19%
LondonMetric Property (LMP) 194.60p -1.17%
Croda International (CRDA) 2,980.00p -1.00%
Diageo (DGE) 1,793.00p -0.99%
Mondi (MNDI) 843.00p -0.96%

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