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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: Polymetal shines; miners in the red

(Sharecast News) - London's FTSE 100 was up 0.6% at 7,198.92 in afternoon trade on Monday. Anglo-Russian precious metals miner Polymetal was the standout gainer on the index as investors stepped in to bag a bargain after recent heavy losses.

House builder Persimmon surged following a Sunday Telegraph report suggesting that the cost for cladding remediation work could be much less than the £4bn initially estimated. According to the Telegraph, a review commissioned by the House Builders Federation has put the potential cost at lower than £1bn.

Miners were on the back foot as base metals prices fell, with Glencore, Anglo American, Rio and Antofagasta all lower.

Rio was also in focus after the Anglo-Australian miner made a $2.7bn bid to buy the 49% of Canada's Turquoise Hill it doesn't own as it looks to settle its relationship with the Mongolian government over the massive Oyu Tolgoi copper project. Rio is offering 34 Canadian dollars in cash a share, a 32% premium to Turquoise Hill's last closing share price on the Toronto Stock Exchange.

Elsewhere, British American Tobacco dropped after cutting its full-year guidance late on Friday as it announced its exit from Russia.

FTSE 100 - Risers

Polymetal International (POLY) 181.80p 7.26% Persimmon (PSN) 2,315.00p 6.58% Ferguson (FERG) 11,695.00p 6.08% Barclays (BARC) 170.08p 5.57% Lloyds Banking Group (LLOY) 47.93p 5.41% Smith (DS) (SMDS) 323.30p 5.31% Mondi (MNDI) 1,478.50p 5.04% Melrose Industries (MRO) 127.95p 4.88% Admiral Group (ADM) 2,693.00p 4.87% Associated British Foods (ABF) 1,780.50p 4.80%

FTSE 100 - Fallers

Glencore (GLEN) 487.40p -4.67% Anglo American (AAL) 3,749.00p -3.87% Rio Tinto (RIO) 5,359.00p -3.68% BP (BP.) 351.40p -2.50% Shell (SHEL) 1,918.50p -2.30% British American Tobacco (BATS) 3,017.00p -1.66% Antofagasta (ANTO) 1,557.00p -1.21% Fresnillo (FRES) 722.00p -1.12% Prudential (PRU) 1,059.50p -0.80% Auto Trader Group (AUTO) 640.00p -0.59%

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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.

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