FTSE 100 movers: BP and Shell gush higher; Fresnillo loses its shine

1st Sep 2026 14:04

(Sharecast News) - London's FTSE 100 was down 0.3% at 10,791.48 in afternoon trade on Tuesday.

BP and Shell gushed higher in tandem with oil prices after the US and Iran exchanged fresh strikes for the first time since July over the weekend.

Reckitt Benckiser rallied after an Illinois court ruled in favour of its Mead Johnson unit in a trial alleging that its baby formula was linked to a deadly bowel disease in premature babies.

Russ Mould, investment director at AJ Bell, said: "This bellwether ruling removes a significant area of doubt surrounding the business which could help clear the way to a sale which Reckitt has been pursuing for some time.

"Any deal would bring to an end a damaging episode for Reckitt which bought Mead Johnson in 2017 and has been counting the costs for most of the intervening period."

Reckitt was also boosted by an upgrade to 'overweight' from neutral' by JPMorgan.

GSK rose as it said it was advancing its mRNA flu vaccine to a phase 3 trial following positive phase 2 data.

"GSK's vaccine candidate showed higher immune responses against all influenza strains tested compared to licensed standard dose and high dose inactivated flu vaccines in younger and older adults respectively, and was generally well tolerated," it said. "Based on these results, GSK intends to start a phase III efficacy trial in September 2026."

Precious metals miner Fresnillo lost its shine as gold prices fell.

FTSE 100 - Risers

BP (BP.) 535.80p 4.24%

Reckitt Benckiser Group (RKT) 5,318.00p 3.66%

Airtel Africa (AAF) 343.20p 3.44%

Shell (SHEL) 3,412.50p 2.06%

Convatec Group (CTEC) 232.00p 2.02%

Tesco (TSCO) 465.30p 1.68%

Smith & Nephew (SN.) 1,079.00p 1.60%

GSK (GSK) 1,877.00p 1.00%

Haleon (HLN) 371.00p 0.93%

Sainsbury (J) (SBRY) 336.60p 0.87%

FTSE 100 - Fallers

Fresnillo (FRES) 2,975.00p -6.18%

Autotrader Group (AUTO) 506.40p -4.09%

Weir (WEIR) 2,732.00p -3.87%

ICG (ICG) 1,938.00p -3.77%

Melrose Industries (MRO) 495.70p -3.77%

InterContinental Hotels Group (IHG) 156.70p -3.74%

Antofagasta (ANTO) 3,849.00p -3.60%

Rolls-Royce Holdings (RR.) 1,477.60p -3.41%

Computacenter (CCC) 5,485.00p -3.26%

International Consolidated Airlines Group SA (CDI) (IAG) 424.00p -3.15%