FTSE 100 movers: Airlines fly higher; BP and Shell gush lower
London's FTSE 100 was up 0.1% at 8,769.65 in afternoon trade on Tuesday.
Neil Wilson, UK investor strategist at Saxo Markets, said "we are seeing a plain reversal of some of the price action of the last week with travel shares up and oil majors lower".
EasyJet and BA and Iberia owner IAG both flew lower, while oil majors BP and Shell gushed lower. The airlines were recently hit by rising oil prices, which mean higher fuel costs. Meanwhile, the oil companies were given a boost as oil prices rallied amid Middle East tensions.
Weapons maker BAE Systems was under the cosh, reversing recent gains.
Kathleen Brooks, research director at XTB, said the ceasefire between Israel and Iran could signal weakness ahead for defence stocks.
"BAE systems is one of the weakest performers on the FTSE 100 today, along with Babcock and Rolls Royce is barely eking out a gain.
"Rheinmetall is the weakest performer on the Dax index this morning, as the German defence firm, which is higher by 171% so far this year, comes off the boil."
FTSE 100 - Risers
easyJet (EZJ) 540.00p 6.59%
International Consolidated Airlines Group SA (CDI) (IAG) 327.40p 6.06%
JD Sports Fashion (JD.) 75.96p 5.76%
Barclays (BARC) 331.45p 4.02%
Informa (INF) 814.40p 3.75%
Smurfit Westrock (DI) (SWR) 3,176.00p 3.12%
CRH (CDI) (CRH) 6,692.00p 3.11%
Croda International (CRDA) 3,064.00p 3.10%
St James's Place (STJ) 1,124.50p 2.98%
SSE (SSE) 1,886.50p 2.86%
FTSE 100 - Fallers
BP (BP.) 366.65p -5.11%
Shell (SHEL) 2,588.50p -3.56%
BAE Systems (BA.) 1,826.00p -2.87%
Fresnillo (FRES) 1,418.00p -1.73%
Glencore (GLEN) 280.75p -1.65%
Games Workshop Group (GAW) 16,020.00p -1.29%
London Stock Exchange Group (LSEG) 10,630.00p -1.21%
AstraZeneca (AZN) 10,312.00p -1.04%
Admiral Group (ADM) 3,334.00p -0.89%
Centrica (CNA) 166.85p -0.74%
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