FTSE 100 movers: Miners rally on record metals prices; Ashtead slumps

29th Jan 2026 13:39

(Sharecast News) - London's FTSE 100 was up 0.9% at 10,248.53 in afternoon trade on Thursday.

Antofagasta rose to the top of the index as it posted a spike in fourth-quarter copper production and forecast further growth for the in-demand base metal.

Miners more generally were in the black, with Glencore, Anglo American and Rio Tinto all higher as copper prices hit record highs.

Precious metals miner Fresnillo shone as gold prices breached $5,500 an ounce, driven by a weak dollar and political uncertainty. Silver, meanwhile, hit $120 an ounce for the first time.

Susannah Streeter, chief investment strategist at Wealth Club, said: "The Footsie is heading up towards record levels, as geopolitical tensions make the defensive nature of the index more attractive.

"The flight to safe havens is intensifying with gold and silver hitting fresh records, amid concerns about fresh conflict erupting. Mining companies have made fresh gains, amid the insatiable demand for precious metals."

3i Group jumped as the private equity firm reported a further rise in net asset value over the nine months to December, supported by another strong year from Dutch retailer Action, which continued to drive the group's overall performance.

Lloyds Banking Group rose after reporting a better-than-expected 12% jump in annual profit driven by higher income which offset £800m set aside to compensate customers who were mis-sold motor finance. The bank also lifted its performance estimates for 2026 and announced a share buyback programme of up to £1.75bn.

On the downside, equipment rental firm Ashtead slumped following disappointing quarterly results from US peer United Rentals.

Airtel Africa was down ahead of third-quarter numbers on Friday.

FTSE 100 - Risers

Antofagasta (ANTO) 4,133.00p 11.46%

3i Group (III) 3,485.00p 10.74%

Glencore (GLEN) 530.30p 4.84%

Anglo American (AAL) 3,635.00p 4.57%

St James's Place (STJ) 1,557.50p 3.45%

Rio Tinto (RIO) 6,978.00p 3.36%

Weir Group (WEIR) 3,362.00p 3.19%

Metlen Energy & Metals (MTLN) 47.40p 2.27%

Shell (SHEL) 2,788.50p 2.05%

Fresnillo (FRES) 4,200.00p 2.04%

FTSE 100 - Fallers

Ashtead Group (AHT) 4,846.00p -5.20%

The Sage Group (SGE) 964.00p -3.15%

Relx plc (REL) 2,617.00p -2.79%

Autotrader Group (AUTO) 542.80p -2.51%

Croda International (CRDA) 2,686.00p -2.26%

Airtel Africa (AAF) 345.00p -1.88%

Pershing Square Holdings Ltd NPV (PSH) 4,514.00p -1.83%

Next (NXT) 13,355.00p -1.73%

Hikma Pharmaceuticals (HIK) 1,507.00p -1.70%

easyJet (EZJ) 467.70p -1.68%