FTSE 100 movers: Miners, Diageo rally; BP and Shell hit by weaker oil prices

(Sharecast News) - London's FTSE 100 was up 2.2% at 10,441.41 in afternoon trade on Wednesday.

Gold miner Fresnillo and miners Antofagasta and Anglo American all rose as gold and copper prices advanced.

BA and Iberia owner IAG also flew higher as oil prices tumbled, allaying concerns about fuel costs.

Diageo fizzed higher as the Guinness owner reported better-than-expected third-quarter growth, fuelled by strong demand across Europe and Latin America ahead of the football World Cup.

The drinks maker - which also owns Johnnie Walker, Smirnoff and Baileys, among others - saw sales rise 2.3% in the three months to March end to $4.48bn, or by 0.3% on an organic basis. Within that, volumes were 0.4% higher while the price/mix was -0/1%. Analysts had been expecting a 2% decline in organic sales.

Susannah Streeter, chief investment strategist at Wealth Club, said: "Although there's no change to the guidance, better performances in Europe, Latin America and Africa have added a bit of zing to the picture and a cause for celebration.

"There was a seasonal lift due to the early arrival of Easter and there are also some tentative signs that a frenzy of World Cup fever will keep spirit demand higher."

On the downside, BP and Shell gushed lower as oil prices slid amid hopes of a US-Iran peace deal.

Smith & Nephew was also down as it said it performed in line with expectations in the first quarter, backed its full-year outlook and announced a new $500 buyback.

FTSE 100 - Risers

Fresnillo (FRES) 3,417.00p 9.70%

Antofagasta (ANTO) 3,826.00p 7.78%

Rolls-Royce Holdings (RR.) 1,291.80p 7.57%

International Consolidated Airlines Group SA (CDI) (IAG) 392.40p 7.21%

Anglo American (AAL) 3,810.00p 6.97%

Melrose Industries (MRO) 517.20p 6.69%

Barclays (BARC) 444.95p 6.16%

Diageo (DGE) 1,568.20p 6.09%

HSBC Holdings (HSBA) 1,350.80p 5.64%

Prudential (PRU) 1,163.00p 5.40%

FTSE 100 - Fallers

BP (BP.) 550.30p -3.56%

Shell (SHEL) 3,214.50p -2.87%

Smith & Nephew (SN.) 1,135.50p -2.07%

SSE (SSE) 2,523.00p -1.23%

London Stock Exchange Group (LSEG) 9,492.00p -0.81%

Metlen Energy & Metals (MTLN) 37.48p -0.45%

Centrica (CNA) 209.20p -0.24%

National Grid (NG.) 1,293.40p -0.03%

RELX FINANCE BV 3.375% GTD NTS 20/03/33 (BW73) 98.64p 0.00%

Beazley (BEZ) 1,278.50p 0.08%