FTSE 100 movers: Fresnillo shines; IAG flies lower

(Sharecast News) - London's FTSE 100 was flat at 9,218.28 in afternoon trade on Monday. Precious metals miner Fresnillo shot to the top of the index as gold prices hit a record high.

Heavily-weighted miners were on the front foot, with Glencore, Rio Tinto and Antofagasta all higher.

Russ Mould, investment director at AJ Bell, said: "The mining sector was in demand, particularly precious metal producers after gold hit a new record.

"The traditional safe-haven asset is benefiting from hopes for further rate cuts as well as continuing geopolitical uncertainty, big government debt in the developed world, and demand from central banks."

On the downside, British Airways and Iberia owner IAG fell after a cyber attack caused disruption at European airports including Heathrow over the weekend.

Mould said: "The cyberattack on check-in software used by airports in London, Berlin and Brussels caused widespread pain, with flights delayed or cancelled. Airlines rely on efficiency to make money, and any disruptions can have a snowball effect.

"There will be some irate operators demanding answers as to why software provider Collins Aerospace didn't have robust enough systems to block a cyberattack. Collins is owned by US-listed RTX, whose share price is likely to come under pressure when Wall Street opens for trading later today.

"Investors might take the view that RTX's reputation will be battered and bruised by the incident, and that could cause potential customers to think twice about ordering its systems or existing customers to consider alternative options.

"EasyJet was among the airlines caught up in the drama, extending a bad run for its share price that's been in motion since June. After yet another summer clouded by air traffic control strikes, EasyJet has now had to endure more cancellations and a queue of angry customers."

FTSE 100 - Risers

Fresnillo (FRES) 2,360.00p 3.69% Glencore (GLEN) 320.45p 2.40% Rio Tinto (RIO) 4,685.00p 1.87% Antofagasta (ANTO) 2,356.00p 1.42% Airtel Africa (AAF) 224.00p 1.27% 3i Group (III) 3,927.00p 1.26% Babcock International Group (BAB) 1,205.00p 1.26% SSE (SSE) 1,686.00p 1.14% St James's Place (STJ) 1,263.50p 1.12% Hikma Pharmaceuticals (HIK) 1,633.00p 1.11%

FTSE 100 - Fallers

M&G (MNG) 253.50p -2.05% JD Sports Fashion (JD.) 87.10p -1.49% Croda International (CRDA) 2,671.00p -1.48% Haleon (HLN) 333.80p -1.36% Admiral Group (ADM) 3,268.00p -1.33% Smith & Nephew (SN.) 1,356.00p -1.09% The Sage Group (SGE) 1,088.00p -1.09% International Consolidated Airlines Group SA (CDI) (IAG) 379.50p -1.04% Pershing Square Holdings Ltd NPV (PSH) 4,762.00p -1.00% Burberry Group (BRBY) 1,120.50p -0.97%