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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Oil giants gush higher, NatWest jumps

(Sharecast News) - London's FTSE 100 was up 0.3% at 8,303.60 in afternoon trade on Monday. Shell and BP were among the top gainers as oil prices continued to rise due to the conflict in the Middle East.

Separately, Shell was in focus as it posted a sharp drop in third-quarter refining profit margins.

Meanwhile, BP was in the stoplight after Reuters reported that the oil giant has abandoned a target to cut oil and gas output by 2030 as chief executive Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence.

NatWest was the standout performer on the index. Russ Mould, investment director at AJ Bell, pointed to the latest Halifax house price data out earlier, which showed that prices rose in September for the third month in a row and were close to record highs.

"A pick-up in housing market activity should drive more business to mortgage lenders, hence why the likes of NatWest and Lloyds were among the top risers on the FTSE 100," he said.

FTSE 100 - Risers

NATWEST GROUP (NWG) 353.10p 3.09% Shell (SHEL) 2,631.00p 2.08% GSK (GSK) 1,485.50p 1.78% BT Group (BT.A) 146.85p 1.63% Mondi (MNDI) 1,433.00p 1.60% Convatec Group (CTEC) 224.80p 1.54% BP (BP.) 423.10p 1.50% Prudential (PRU) 719.60p 1.50% Standard Chartered (STAN) 840.20p 1.47% Phoenix Group Holdings (PHNX) 523.00p 1.36%

FTSE 100 - Fallers

Haleon (HLN) 375.80p -2.79% Melrose Industries (MRO) 452.20p -1.70% Barratt Redrow (BTRW) 474.00p -1.68% Vistry Group (VTY) 1,290.00p -1.60% Hiscox Limited (DI) (HSX) 1,120.00p -1.58% Fresnillo (FRES) 626.00p -1.57% JD Sports Fashion (JD.) 136.50p -1.55% Persimmon (PSN) 1,637.50p -1.33% Smith & Nephew (SN.) 1,122.50p -1.28% Rentokil Initial (RTO) 360.10p -1.13%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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