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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: Fresnillo shines again; Pearson dented by Goldman results preview

(Sharecast News) - London's FTSE 100 up 0.3% at 9,145.80 in afternoon trade on Wednesday. Precious metals miner Fresnillo and gold miner Endeavour shone as gold prices hit fresh highs.

Kathleen Brooks, research director at XTB, said: "The gold price continues to extend gains into record territory on Wednesday and is comfortably trading above $3,530. The gold price is reacting to fears about stagflation: high inflation, lower interest rates in the US and sluggish growth."

Babcock was also in the black following a report the UK is in advanced talks to build warships for Denmark and Sweden.

According to the Financial Times, discussions are centred on Babcock producing Type-31 frigates at Rosyth in Scotland for Denmark and Sweden.

On the downside, educational publisher Pearson was the worst performer on the index as Goldman Sachs said in a results preview that it expects only "slight" growth acceleration in the third quarter, with focus on the fourth quarter to deliver full-year guidance.

The bank said it was updating its estimates ahead of 9M25 results in late October, where it forecasts 3.5% growth in third-quarter group organic revenue, below Visible Alpha consensus data at 4.6% growth.

"In particular, we are below Q3 consensus on ELL, A&Q and Virtual Learnings," Goldman said.

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