FTSE 100 movers: Fresnillo shines as gold, silver prices rise

3rd Jul 2026 14:08

(Sharecast News) - London's FTSE 100 was flat at 10,658.16 in afternoon trade on Friday.

Precious metals miner Fresnillo shone as gold and silver prices rose.

Dan Coatsworth, head of markets at AJ Bell, said: "The precious metal had a disappointing time in the first half of the year and recently dipped below $4,000 as investors were tempted away by attractive yields on bonds and lapped up stocks as the AI boom carried on. Gold has today rebounded, trading just below $4,200 per ounce and taking the likes of Fresnillo and other gold miners along for the ride.

"Yesterday's US jobs data pointed to a softer labour market which has raised hopes that the Fed won't put up interest rates. The shift in rate expectations led to a drop in US Treasury yields, meaning the opportunity on fixed income was slightly diminished and thereby dampening one of the drivers that's taken money away from gold this year. Investors might have seen this market shift and decided it was time to add back some more gold."

St James's Place, Weir Group and Metlen Energy also gained, along with Melrose Industries.

Patrick Munnelly at Tickmill Group said; "That leadership suggested investors were not abandoning risk altogether; they were simply being more selective. Utilities and infrastructure-linked names also attracted demand, with SSE and National Grid moving higher.

"In a market worried about growth but not yet pricing an easing cycle, regulated and infrastructure-style cash flows remain attractive, especially when investors want exposure to long-term investment themes without taking excessive consumer risk."

FTSE 100 - Risers

St James's Place (STJ) 1,315.00p 2.94%

Weir Group (WEIR) 2,494.00p 2.21%

Melrose Industries (MRO) 504.00p 2.17%

ICG (ICG) 1,773.00p 2.01%

Smiths Group (SMIN) 2,638.00p 1.97%

SSE (SSE) 2,497.00p 1.50%

Fresnillo (FRES) 2,924.00p 1.49%

Metlen Energy & Metals (MTLN) 42.46p 1.34%

Abrdn (ABDN) 256.60p 1.18%

National Grid (NG.) 1,244.00p 1.10%

FTSE 100 - Fallers

InterContinental Hotels Group (IHG) 166.15p -1.92%

Games Workshop Group (GAW) 21,100.00p -1.77%

Entain (ENT) 531.60p -1.56%

Diageo (DGE) 1,515.00p -1.46%

Babcock International Group (BAB) 1,042.50p -1.23%

Tesco (TSCO) 468.00p -1.22%

Unilever (ULVR) 4,593.00p -1.17%

Reckitt Benckiser Group (RKT) 5,072.00p -1.13%

Marks & Spencer Group (MKS) 381.50p -1.11%

Next (NXT) 14,500.00p -1.09%