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FTSE 100 movers: Fresnillo shines; Schroders hit by downgrade

(Sharecast News) - London's FTSE 100 was flat at 7,638.90 in afternoon trade on Monday.

Precious metals miner Fresnillo shone as gold prices rose.

Tickmill Group said: "Gold prices are seeing a decent bid across early European trading on Monday. Traders are braced for an important week with the FOMC due on Wednesday. As trading begins, however, focus is on the rising tensions in the Middle East. News of fresh attacks on ships in the Red Sea, as well as the deaths of US soldiers in Jordan has stoked fears of escalating violence in the region.

"With many calling for a harsher response from the US in the wake of the drone attack on US troops, markets are dealing with plenty of uncertainty as we kick of the new week, driving safe-haven demand for gold."

Defence contractor BAE Systems was also in the black amid heightened geopolitical tensions.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "BAE Systems was the top riser in early trade, amid international concern about repercussions of the attacks on US troops stationed in Bahrain, by Houthi backed rebels, linked to Iran."

Schroders fell after a downgrade to 'underperform' at BNPP Exane.

FTSE 100 - Risers

Fresnillo (FRES) 536.00p 7.46% RS Group (RS1) 782.00p 1.90% BAE Systems (BA.) 1,189.00p 1.80% WPP (WPP) 779.60p 1.43% Land Securities Group (LAND) 669.20p 1.33% 3i Group (III) 2,442.00p 1.29% Melrose Industries (MRO) 588.60p 1.24% Centrica (CNA) 139.30p 1.20% Pershing Square Holdings Ltd NPV (PSH) 3,722.00p 1.20% British American Tobacco (BATS) 2,360.50p 1.18%

FTSE 100 - Fallers

St James's Place (STJ) 647.40p -3.49% Schroders (SDR) 412.00p -3.06% Intermediate Capital Group (ICP) 1,762.00p -2.92% Airtel Africa (AAF) 121.80p -2.87% Phoenix Group Holdings (PHNX) 509.40p -2.38% Prudential (PRU) 841.00p -2.00% Smurfit Kappa Group (CDI) (SKG) 3,042.00p -1.87% Auto Trader Group (AUTO) 728.00p -1.86% Croda International (CRDA) 4,670.00p -1.81% SSE (SSE) 1,668.00p -1.77%

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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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