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FTSE 100 movers: Antofagasta, airlines surge; oil giants tumble
(Sharecast News) - London's FTSE 100 was 2.8% higher at 10,633.62 in afternoon trade on Wednesday. Chilean copper miner Antofagasta was the standout gainer on the index as copper prices rose.
Tony Sage, chief executive of Critical Metals, said: "Hopes surrounding a potential US-Iran agreement, including the reopening of the Strait of Hormuz, have reduced fears of prolonged supply chain disruptions and energy-driven inflation, creating a more supportive backdrop for industrial metals."
BA and Iberia owner IAG also jumped as sentiment improved and as falling all prices alleviated concerns about fuel costs.
On the downside, oil giants BP and Shell gushed lower as oil prices tumbled after Iran and the US agreed a two-week ceasefire. Brent crude was down 15.8% at $91.97 a barrel at 1505 BST, while West Texas Intermediate was 17.8% lower at $92.90.
Amid the risk-on tone, defensives such as British Gas owner Centrica, British American Tobacco and Imperial Brands all fell.
Defence firm BAE Systems was also on the back foot.
FTSE 100 - Risers
Antofagasta (ANTO) 3,832.00p 12.06% Standard Chartered (STAN) 1,747.60p 11.07% Lion Finance Group (BGEO) 10,860.00p 10.59% JD Sports Fashion (JD.) 75.82p 10.00% Rolls-Royce Holdings (RR.) 1,256.80p 9.99% Melrose Industries (MRO) 558.60p 9.98% International Consolidated Airlines Group SA (CDI) (IAG) 395.90p 9.94% Barclays (BARC) 444.40p 9.51% Weir Group (WEIR) 3,092.00p 9.39% Fresnillo (FRES) 3,671.00p 9.36%
FTSE 100 - Fallers
BP (BP.) 554.60p -8.13% Shell (SHEL) 3,356.50p -6.05% Centrica (CNA) 214.10p -2.15% British American Tobacco (BATS) 4,340.00p -2.03% Imperial Brands (IMB) 3,116.00p -1.16% BAE Systems (BA.) 2,268.50p -0.53% Admiral Group (ADM) 3,214.00p -0.53% Haleon (HLN) 369.10p -0.08% Schroders (SDR) 578.00p 0.00% RELX FINANCE BV 3.375% GTD NTS 20/03/33 (BW73) 98.64p 0.00%
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