FTSE 100 movers: Gold miners shine; Barclays slumps

(Sharecast News) - London's FTSE 100 was up 0.1% at 10,133.88 in afternoon trade on Monday. Precious metals Fresnillo and gold miner Endeavour both shone as gold and silver prices hit fresh highs as investors rushed to buy the metals on news that Federal Reserve chair Jerome Powell is being investigated by the Department of Justice.

Miners Glencore and Anglo American also gained amid rising copper prices.

Sage Group was boosted by an upgrade to 'buy' from 'neutral' at UBS.

Pearson was also higher as Citi initiated coverage of the education publisher with a 'buy' rating.

On the downside, British Land fell as it said chief executive Simon Carter was leaving after five years in the role to head up a pan-European logistics firm. Land Securities was also in the red.

Barclays slid after US President Donald Trump called for a one-year 10% cap on credit card interest rates.

Russ Mould, investment director at AJ Bell, said: "The UK bank entered the US credit card market in 2004 with the acquisition of Juniper Financial and it is now one of the largest issuers in the country via partnership brands.

"While consumers would love to see lower rates on credit cards, Trump may not be able to enact such a move without approval from Congress. It also raises questions about the knock-on effect of a cap on credit and whether a drop in associated earnings for lenders could lead to reduced availability of credit in general, forcing some consumers and businesses to seek more costly alternatives."

Mondi was knocked lower by a downgrade to 'underweight' from 'equalweight' at Morgan Stanley.