London’s FTSE 100 was down 0.2% at 7,249.81 in afternoon trade on Friday.
Royal Dutch Shell gushed lower as oil prices fell.
On the upside, Fresnillo and Polymetal both shone as gold prices rose. Oanda analyst Craig Erlam said: “Gold is taking the news that central banks are tightening monetary policy and tackling inflation head-on very well. You would be forgiven for thinking this would be a negative development for the yellow metal and, in the longer term, I expect it will be.
“But it’s also a development that was almost entirely expected and priced in. So we may be seeing some profit-taking on the pre-meeting moves which is pulling yields a little lower and weighing on the dollar. This should be a short-term relief move, although that may depend on what the omicron data tells us in the coming weeks.”
British Airways and Iberia parent IAG flew higher, having said on Thursday that it had terminated an agreement to buy rival Air Europa from Spain’s Globalia.
FTSE 100 – Risers
Fresnillo (FRES) 915.80p 2.83%
International Consolidated Airlines Group SA (CDI) (IAG) 130.50p 2.74%
Polymetal International (POLY) 1,307.50p 2.47%
Informa (INF) 496.70p 2.20%
Vodafone Group (VOD) 114.10p 2.17%
Associated British Foods (ABF) 1,923.00p 2.10%
British American Tobacco (BATS) 2,745.50p 2.08%
ITV (ITV) 107.45p 1.90%
Anglo American (AAL) 2,948.50p 1.80%
Melrose Industries (MRO) 146.30p 1.77%
FTSE 100 – Fallers
Scottish Mortgage Inv Trust (SMT) 1,328.00p -2.35%
Pershing Square Holdings Ltd NPV (PSH) 2,980.00p -1.97%
Croda International (CRDA) 10,045.00p -1.95%
Relx plc (REL) 2,328.00p -1.90%
Ashtead Group (AHT) 6,038.00p -1.66%
Spirax-Sarco Engineering (SPX) 15,440.00p -1.66%
Intermediate Capital Group (ICP) 2,120.00p -1.62%
Royal Dutch Shell ‘A’ (RDSA) 1,603.80p -1.43%
Royal Dutch Shell ‘B’ (RDSB) 1,604.20p -1.41%
Halma (HLMA) 3,064.00p -1.35%