FTSE 100 movers: Defence firms rally, airlines hit amid MidEast tensions.


London’s FTSE 100 was down 0.5% at 8,844.27 in afternoon trade on Friday.

BAE Systems Typhoon alongside Spitfire

Source: Sharecast

Defence firms BAE Systems and Babcock were among the top performers amid escalating tensions in the Middle East after Israel hit Iran’s nuclear sites.

Oil majors BP and Shell gushed higher as oil prices were lifted by the conflict, while precious metals miner Fresnillo shone as gold prices rose amid a flight to safety.

Kathleen Brooks, research director at XTB, said: "The yellow metal is hurtling towards a new record high set earlier this month, when the gold price reached $3,431. If the escalation continues, or if a nuclear threat arises, this could trigger a surge in gold beyond $3.500, in our view."

On the downside, BA and Iberia owner IAG and budget airline easyJet both flew lower, hit by the rise in oil prices.

Richard Hunter, head of markets at Interactive Investor, said they were "hit by the double whammy of higher fuel costs as well as potentially damaged demand resulting from tensions in the Middle East region".

FTSE 100 - Risers

BAE Systems (BA.) 1,940.50p 2.94%
BP (BP.) 391.85p 2.93%
Shell (SHEL) 2,671.00p 2.16%
Fresnillo (FRES) 1,436.00p 1.56%
Tesco (TSCO) 397.30p 1.46%
Next (NXT) 12,790.00p 1.31%
Centrica (CNA) 167.20p 1.18%
RELX FINANCE BV 3.375% GTD NTS 20/03/33 (BW73) 99.72p 1.10%
Babcock International Group (BAB) 1,041.00p 0.87%
British American Tobacco (BATS) 3,583.00p 0.82%

FTSE 100 - Fallers

International Consolidated Airlines Group SA (CDI) (IAG) 313.70p -4.59%
Schroders (SDR) 352.80p -4.23%
easyJet (EZJ) 537.40p -3.83%
Antofagasta (ANTO) 1,767.00p -2.62%
St James's Place (STJ) 1,074.50p -2.50%
Intermediate Capital Group (ICG) 1,923.00p -2.44%
CRH (CDI) (CRH) 6,684.00p -2.31%
Informa (INF) 772.60p -2.28%
Anglo American (AAL) 2,091.00p -1.99%
Barclays (BARC) 317.55p -1.98%

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