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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: oil majors rally; JD Sports in the red

(Sharecast News) - London's FTSE 100 was up 0.5% at 7,367.07 in afternoon trade on Monday.

Oil giants BP and Shell rallied as oil prices rose.

CMC Markets analyst Michael Hewson said: "Crude oil prices are getting a slight bid as the US starts to take steps to refill its strategic petroleum reserves, which have been run down in the last few months in an attempt to keep a lid on energy prices. A pledge by China to support the economy in the wake of rising covid cases is also helping on the margins."

On the downside, JD Sports lost ground after announcing late on Friday that it had sold its interests in a number of fashion brands to Frasers Group for up to £47.5m.

Broker Shore Capital said: "The divestment to Frasers may raise an eyebrow or two given the characters behind the development of these two groups, namely Peter Cowgill and Mike Ashley. However, from the surface this looks like sensible activity by JD's new chief executive officer Regis Schultz centred upon focus and simplification."

FTSE 100 - Risers

Fresnillo (FRES) 892.00p 4.40% BP (BP.) 467.40p 2.64% Shell (SHEL) 2,297.00p 2.41% Melrose Industries (MRO) 126.90p 2.30% Weir Group (WEIR) 1,679.00p 2.10% Airtel Africa (AAF) 112.20p 2.09% Beazley (BEZ) 648.00p 2.05% Smith (DS) (SMDS) 317.60p 1.89% M&G (MNG) 183.35p 1.80% Coca-Cola HBC AG (CDI) (CCH) 1,969.50p 1.73%

FTSE 100 - Fallers

London Stock Exchange Group (LSEG) 7,158.00p -2.48% JD Sports Fashion (JD.) 115.40p -2.29% Auto Trader Group (AUTO) 524.40p -1.87% Next (NXT) 5,540.00p -1.53% Rightmove (RMV) 524.20p -1.32% Croda International (CRDA) 6,638.00p -1.10% Berkeley Group Holdings (The) (BKG) 3,763.00p -0.92% Pershing Square Holdings Ltd NPV (PSH) 2,835.00p -0.87% Rentokil Initial (RTO) 513.40p -0.85% Experian (EXPN) 2,835.00p -0.84%

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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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