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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Defence firms jump; Anglo in the red

(Sharecast News) - London's FTSE 100 was down 0.4% at 8,737.25 in afternoon trade on Monday. Defence firms Babcock and BAE Systems were among the top performers on the index after the UK government pledged to build up to 12 attack submarines as part of AUKUS programme.

Russ Mould, investment director at AJ Bell, said investors were targeting "an industry with a clear earnings tailwind".

Precious metals miner Fresnillo shone as gold prices rose amid geopolitical tensions.

On the downside, Anglo American was the biggest loser after it officially completed the demerger of its Valterra Platinum business following the approval of shareholders, allowing the company to focus on its copper, iron ore and crop nutrients operations.

Valterra, which is already listed in Johannesburg, began trading in a secondary listing in London on Monday, with Anglo retaining a 19.9% interest in the platinum producer.

Anglo's chief executive Duncan Wanblad said the deal was a "major step in our plan to unlock the inherent value in our portfolio".

FTSE 100 - Risers

Babcock International Group (BAB) 1,014.00p 8.33% Fresnillo (FRES) 1,218.00p 4.73% International Consolidated Airlines Group SA (CDI) (IAG) 332.50p 1.96% BAE Systems (BA.) 1,937.50p 1.89% Schroders (SDR) 361.00p 1.58% Antofagasta (ANTO) 1,797.50p 1.52% Shell (SHEL) 2,484.50p 1.43% BP (BP.) 364.85p 1.42% Hiscox Limited (DI) (HSX) 1,276.00p 1.19% GSK (GSK) 1,522.50p 1.03%

FTSE 100 - Fallers

Anglo American (AAL) 2,221.00p -11.29% Flutter Entertainment (DI) (FLTR) 17,895.00p -4.53% WPP (WPP) 585.40p -2.34% Ashtead Group (AHT) 4,262.00p -1.68% JD Sports Fashion (JD.) 82.78p -1.59% SEGRO (SGRO) 686.00p -1.58% Diploma (DPLM) 4,614.00p -1.54% AstraZeneca (AZN) 10,570.00p -1.40% Melrose Industries (MRO) 461.60p -1.39% Taylor Wimpey (TW.) 118.15p -1.17%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.