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FTSE 100 movers: Polymetal tumbles; BAE Systems rallies
(Sharecast News) - London's FTSE 100 was down 0.9% at 7,420.89 in afternoon trade on Monday. Anglo-Russian precious metals miner Polymetal and Russian steelmaker Evraz tumbled amid the ongoing crisis in Ukraine.
Shares in paper and packaging maker Mondi slumped as the company said it had suspended operations at its plant in the western Ukrainian city of Lviv due to the Russian invasion.
BP lost ground after the oil giant said it will exit its near-20% holding in state-owned oil company Rosneft in response to Russia's invasion of Ukraine, at an expected cost of around $25bn.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said: "Just how BP will manage this exit is unclear but it looks like it will be highly difficult for the company to recover anywhere near what was considered to be the full value of the stake, estimated to be $14 billion at the end of 2021 and it will also strip BP of lucrative dividends which were due to pour in from the Russian business."
Going the other way, defence company BAE Systems was the standout gainer amid the crisis in Ukraine and after Germany said over the weekend that it was upping its defence budget.
Housebuilders were in the black, with Barratt, Persimmon and Taylor Wimpey all higher.
FTSE 100 - Risers
BAE Systems (BA.) 722.20p 10.60% Hikma Pharmaceuticals (HIK) 2,083.00p 6.99% Bunzl (BNZL) 2,947.00p 6.78% Rightmove (RMV) 669.80p 4.10% Barratt Developments (BDEV) 596.80p 3.83% Persimmon (PSN) 2,403.00p 3.35% B&M European Value Retail S.A. (DI) (BME) 599.80p 3.09% National Grid (NG.) 1,126.60p 2.36% Taylor Wimpey (TW.) 146.90p 2.26% Intertek Group (ITRK) 5,328.00p 2.07%
FTSE 100 - Fallers
Polymetal International (POLY) 356.50p -55.35% Evraz (EVR) 150.35p -26.55% Mondi (MNDI) 1,576.50p -11.75% Coca-Cola HBC AG (CDI) (CCH) 1,929.00p -9.69% BP (BP.) 355.00p -6.21% HSBC Holdings (HSBA) 508.30p -5.52% Standard Chartered (STAN) 529.20p -5.43% Rolls-Royce Holdings (RR.) 100.52p -5.24% Pearson (PSON) 639.20p -4.97% Prudential (PRU) 1,128.00p -4.73%
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