FTSE 100 movers: Shell gushes higher after update; miners in the red

(Sharecast News) - London's FTSE 100 was up 0.4% at 10,694.03 in afternoon trade on Tuesday. Drinks maker Diageo and consumer goods giant Unilever were among the top gainers.

Shell also gushed higher as the oil giant said trading & optimisation earnings in its integrated gas division are expected to be "significantly" higher in the second quarter as it lifted its production guidance for the segment.

The company expects Q2 production of 610,000 to 650,000 barrels of oil equivalent per day in its integrated gas arm, down from 909,000 boed in the first quarter due to the impact of the Middle East conflict on Qatari volumes. However, this was above its previous forecast for production of 580,000 to 640,000 boed in Q2.

Shell also said it expects an improvement in its working capital position due to the impact of "unprecedented volatility" in commodity prices. It now expects a cash inflow of $1bn to $6bn in the second quarter, following a $11.2bn outflow in the first quarter.

Heavily-weighted miners Anglo American and Antofagasta were under the cosh, along with precious metals miner Fresnillo, as gold prices fell.

Halma retreated after announcing the acquisition of France-based Dreampath Diagnostics for an initial €154m (£132m), on a cash- and debt-free basis.

FTSE 100 - Risers

Diageo (DGE) 1,580.50p 4.74% Associated British Foods (ABF) 1,968.00p 3.92% Unilever (ULVR) 4,728.50p 3.79% Flutter Entertainment (DI) (FLTR) 8,126.00p 3.57% Burberry Group (BRBY) 1,129.00p 3.43% Relx plc (REL) 2,464.00p 3.26% Shell (SHEL) 2,999.50p 3.07% Coca-Cola Europacific Partners (DI) (CCEP) 8,135.00p 3.03% London Stock Exchange Group (LSEG) 9,050.00p 2.84% AstraZeneca (AZN) 14,388.00p 2.82%

FTSE 100 - Fallers

Rolls-Royce Holdings (RR.) 1,452.80p -2.86% Anglo American (AAL) 3,672.00p -2.67% Airtel Africa (AAF) 331.60p -2.51% Abrdn (ABDN) 255.20p -2.44% Diploma (DPLM) 6,895.00p -2.40% Spirax Group (SPX) 6,530.00p -2.16% Fresnillo (FRES) 2,780.00p -1.94% Halma (HLMA) 3,830.00p -1.79% Scottish Mortgage Inv Trust (SMT) 1,482.00p -1.72% Antofagasta (ANTO) 3,818.00p -1.72%