FTSE 100 movers: Fresnillo shines; defence firms slump

(Sharecast News) - London's FTSE 100 was down 0.1% at 9,712.83 in afternoon trade on Monday. Precious metals miner Fresnillo shone as gold and silver prices rose, while miners Antofagasta, Glencore and Anglo American also pushed higher in tandem with copper prices.

Aerospace firm Melrose Industries slumped as it said its chief financial officer Matthey Gregory is to step down. Melrose said Gregory has informed the board he plans to retire in 2026, two years after taking up the role.

He will be replaced by Ross McCluskey, a vice president at testing and inspection specialist Intertek Group.

Broker Peel Hunt said: "Matthew's departure is interesting and a slight surprise, certainly to us.

"He has managed the Melrose aero pure play transition with great effectiveness and the fact that his replacement has been announced at the same time indicates a planned and orderly process."

Defence firms were under the cosh, with BAE Systems, Rolls-Royce and Babcock all lower after US Secretary of State Macro Rubio said talks between US and Ukrainian officials on Sunday had been "productive".

Trade Nation's David Morrison noted: "US special envoy Steve Witkoff is travelling to Moscow for high-level talks with President Putin and other senior Russian officials as part of efforts to advance a revised US-backed 19-point peace plan for Ukraine."

FTSE 100 - Risers

Fresnillo (FRES) 2,762.00p 4.86% Antofagasta (ANTO) 2,833.00p 2.50% Glencore (GLEN) 368.70p 2.23% Anglo American (AAL) 2,912.00p 2.14% Reckitt Benckiser Group (RKT) 5,966.00p 1.95% Croda International (CRDA) 2,775.00p 1.95% Burberry Group (BRBY) 1,156.50p 1.49% Bunzl (BNZL) 2,192.00p 1.29% BP (BP.) 460.00p 1.29% Rio Tinto (RIO) 5,490.00p 1.25%

FTSE 100 - Fallers

Melrose Industries (MRO) 571.20p -4.00% 3i Group (III) 3,065.00p -2.94% BT Group (BT.A) 176.30p -2.60% WPP (WPP) 296.90p -2.27% BAE Systems (BA.) 1,616.00p -2.09% Smurfit Westrock (DI) (SWR) 2,663.00p -1.77% Babcock International Group (BAB) 1,115.00p -1.59% Aviva (AV.) 641.80p -1.53% easyJet (EZJ) 492.20p -1.44% Rolls-Royce Holdings (RR.) 1,053.00p -1.40%