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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: Oil giants slide, miners in the black

(Sharecast News) - London's FTSE 100 was down 0.3% at 10,437.54 in afternoon trade on Monday. Energy giants BP and Shell slid after the US and Iran agreed to end all fighting and reopen the Strait of Hormuz.

The long-sought peace deal was first announced by Pakistan, which had acted as a mediator between the warring factions. Full details have not been published, but prime minister Shehbaz Sharif confirmed both sides had declared "immediate and permanent termination" of all military operations, including in Lebanon. There was no mention of Israel.

Donald Trump shortly afterwards said the Strait of Hormuz would reopen. Posting on Truth Social, the US president wrote: "I hereby fully authorise the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorise the immediate removal of the United States Naval blockade."

Defence firm BAE Systems was also under the cosh, along with utilities Centrica and United Utilities.

On the upside, precious metals miner Fresnillo was the top gainer, with Chilean miner Antofagasta close behind as copper, silver and gold prices all rose.

Engine maker Rolls-Royce was among the top performers as oil prices slumped, alleviating concerns about fuel costs.

FTSE 100 - Risers

Fresnillo (FRES) 3,234.00p 8.13% Weir Group (WEIR) 2,452.00p 6.33% Antofagasta (ANTO) 4,283.00p 6.17% Smurfit Westrock (DI) (SWR) 3,328.00p 5.38% Rolls-Royce Holdings (RR.) 1,362.80p 4.36% Halma (HLMA) 4,060.00p 4.31% Informa (INF) 845.60p 3.87% IMI (IMI) 2,944.00p 3.44% Anglo American (AAL) 4,119.00p 3.22% Melrose Industries (MRO) 476.00p 3.20%

FTSE 100 - Fallers

Shell (SHEL) 3,063.50p -4.89% BP (BP.) 512.50p -4.47% BAE Systems (BA.) 1,836.50p -3.82% BT Group (BT.A) 203.20p -3.15% Vodafone Group (VOD) 112.30p -2.64% Centrica (CNA) 182.15p -2.10% Glencore (GLEN) 578.80p -1.85% AstraZeneca (AZN) 13,220.00p -1.83% United Utilities Group (UU.) 1,288.00p -1.68% Scottish Mortgage Inv Trust (SMT) 1,411.50p -1.62%

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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.