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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: Miners rally on higher copper prices; GSK in the red

(Sharecast News) - London's FTSE 100 was up 1% at 8,355.83 in afternoon trade on Wednesday. Miners rallied as copper prices rose, with Antofagasta, Glencore and Anglo American all up.

Oil giant Shell also gushed higher as oil prices rose amid escalating tensions in the Middle East.

HSBC gained as it said it would start a $3bn share buyback after the Asia-focused bank reported estimate-busting interim profits in its final set of results under chief executive Noel Quinn. Pre-tax profits surged to $8.9bn from $8.8bn a year earlier and smashed analysts' forecasts of $7.8bn.

Quinn, who has been CEO for five years, will be succeeded by finance chief Georges Elhedery.

The bank announced that financial controller Jon Bingham would take on the chief financial officer role on an interim basis.

GSK fell despite raising annual forecasts after better-than-expected second-quarter results, driven by a strong performance from its cancer and HIV treatments.

FTSE 100 - Risers

Antofagasta (ANTO) 2,017.00p 4.43% Glencore (GLEN) 433.00p 3.94% Anglo American (AAL) 2,355.50p 3.45% Flutter Entertainment (DI) (FLTR) 15,460.00p 3.10% HSBC Holdings (HSBA) 697.70p 3.07% Spirax Group (SPX) 9,025.00p 2.91% Fresnillo (FRES) 590.50p 2.87% Shell (SHEL) 2,846.00p 2.87% Intermediate Capital Group (ICG) 2,182.00p 2.83% Ashtead Group (AHT) 5,572.00p 2.80%

FTSE 100 - Fallers

Smurfit Westrock (DI) (SWR) 3,413.00p -5.46% InterContinental Hotels Group (IHG) 7,844.00p -2.90% GSK (GSK) 1,508.00p -2.24% easyJet (EZJ) 452.20p -1.44% Marks & Spencer Group (MKS) 327.30p -1.21% Convatec Group (CTEC) 235.00p -0.93% Barclays (BARC) 231.95p -0.90% Vodafone Group (VOD) 72.56p -0.79% Sainsbury (J) (SBRY) 275.40p -0.79% British American Tobacco (BATS) 2,741.00p -0.69%

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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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